Dr. Hans Boateng: The Royals NFT Bring African Culture to Web 3
Dr. Hans Boateng, known as The Investing Tutor, launched The Royals NFT, at least in part, to bring African culture and fashion to Web 3.
The Royals NFT collection showcases African Royalty through fashion. Owners can create a royal family on the blockchain, curate an authentic Ghanaian cultural experience, and enjoy tangible utility for international travel to Africa.
Growing up in an immigrant family, Dr. Boateng lived the ethic of go to school (he has a Pharm.D., MBA), get a high paying job, and work hard. It didn’t work out the way he was expecting.
“After being overworked and not any richer, I wondered if there was another way,” he wrote on his LinkedIn page. He studied the secrets of getting rich, not quickly but reliably over time. We asked him about The Royals NFT, his own entrepreneurial journey, and if NFTs are a realistic way to shrink the ever widening wealth gap.
Grit Daily: What inspired The Royals NFT?
Dr. Boateng: One thing that inspired me to start The Royals NFT is the lack of diversity and representation among NFT projects and in web3. The Royals NFT’s mission is to bring the Black Diaspora together to experience Ghanaian culture and African heritage. Our genesis collection features two different digital assets, Kente & Ankara, both showcasing Ghana through fashion.
Grit Daily: Is this a strictly collectible NFT that people will buy for aesthetic or investment purposes, or does it have utility?
Dr. Boateng: The Royals NFT is for aesthetics, utility & connection. The Royals NFT provide utilities that includes one of a kind extremely rare and collectable artwork with “Kente & Ankara Cloth”, ongoing website concierge service for travel to Ghana, educational workshops, exclusive airport tarmac escort to private terminal with VIP lounge for Kente holders, and more. Together we are building the first Royal Family on the blockchain!
Grit Daily: I understand that you have read 400 books and 40,000 articles on financial matters, investing and related topics. What are the fundamental lessons you took from that?
Dr. Boateng: The fundamental lesson I learned from all of my research is to focus on acquiring assets. The more you learn, the more you earn. The rich and wealthy build generational wealth by investing early, consistently and they take advantage of compound interest. Spend less than you earn, save and invest what’s left. Take bold calculated risks.
Grit Daily: There is a huge wealth gap here in the US and worldwide. Is cryptocurrency a way to bridge that gap, or have the insiders already dominated the crypto market?
Dr. Boateng: There’s $400 trillion in assets across the world. Crypto currently is about $1 trillion. Less than 0.25% of all assets. If crypto is to become just 5% of all global assets ($20 trillion), that equals a 20x growth from here. What other asset over the next 10 to 20 year has an equivalent potential return? The cryptocurrency ecosystem, which includes digital assets, provides an equal playing field for everyone to build generational wealth, regardless of their background or where they live. This is a tremendous risk-adjusted opportunity to close the wealth gap.
But I don’t believe in putting everything into crypto. Individuals should have retirement accounts, stock accounts, crypto & real estate. Oh – and a business or equity in a business if possible!
Grit Daily: Crypto prices have fallen precipitously this year and have not recovered to anywhere near the record highs. Is that discouraging or a sign to buy now, when prices are down?
Dr. Boateng: It’s the typical 4 year cycle of crypto. The key point is the trend after each downturn is an exponential rise. This bear market has been accelerated by inflation. This is a great time for individuals to study the asset and increase their conviction. And prepare for the next 2 to 4 years!
Grit Daily: Are there any points you want to make that I haven’t asked about?
Dr. Boateng: Another facet of Royals NFT is each year, we select a particular country and its culture to showcase the Royal heritage of that nation through our avatars. Our very first cultural event, The Royal Gala is happening on December 30th, 2022 in Accra, Ghana. A luxurious evening of Ghana’s Finest Food & Unlimited Drinks, private concert with KiDi and more music icons! Broadway Show, Cultural Art Exhibition, Traditional Fashion Show, Comedy show, Special Guests & Celebrities. Join us GhanaRoyalGala.com!
Peter Page is the Contributions Editor at Grit Daily. Formerly at Entrepreneur.com, he began his journalism career as a newspaper reporter long before print journalism had even heard of the internet, much less realized it would demolish the industry. The years he worked a police reporter are a big influence on his world view to this day. Page has some degree of expertise in environmental policy, the energy economy, ecosystem dynamics, the anthropology of urban gangs, the workings of civil and criminal courts, politics, the machinations of government, and the art of crystallizing thought in writing.
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