Twelve-year-old boy makes £290,000 from whale NFTs

A 12-year-old boy from London has made about £290,000 during the school holidays, after creating a series of pixelated artworks called Weird Whales and selling non-fungible tokens (NFTs).

With NFTs, artwork can be “tokenised” to create a digital certificate of ownership that can be bought and sold.

They do not generally give the buyer the actual artwork or its copyright.

Benyamin Ahmed is keeping his earnings in the form of Ethereum – the crypto-currency in which they were sold.

This means they could go up or down in value and there is no back-up from the authorities if the digital wallet in which he is holding them is hacked or compromised.

He has never had a traditional bank account.

Extremely proud

Benyamin’s classmates are as yet unaware of his new-found crypto-wealth, although he has made YouTube videos about his hobby, which he enjoys alongside swimming, badminton and taekwondo.

“My advice … Read more

U.S. Jobs Figures Due Ahead of Labour Day



Economic Lookahead

Pending home sales (July)

Featured Earnings

Zoom Video Communications Inc. (NASDAQ:ZM) (Q2) EPS projected for 81 cents, compared to 72 cents in the prior-year quarter.

Catalent Inc. (NYSE:CTLT) (Q4) EPS projected for $1.01 compared to 85 cents in the prior-year quarter.

StoneCo Ltd. (NASDAQ: STNE) (Q2) EPS projected for 15 cents, compared to nine cents in the prior-year quarter.


Featured Earnings

Aurinia Pharmaceuticals Inc. (T.AUP) (Q2) EPS projected for loss of 10 cents, compared to a gain of 17 cents in the prior-year quarter.

ReGen III Corp. (T.GIII) (Q2) EPS projected for a gain of five cents, compared to a loss of three cents in the prior-year quarter.

PopReach Corporation (T.POPR) (Q2) EPS projected for one cent, compared to three cents in the prior-year quarter.



Economic Lookahead

Case-Shiller home price index (June)

Chicago Purchasing Managers Index (Aug.)

Consumer confidence index (Aug.)

Featured Earnings… Read more

UK loses 83% of department stores since BHS collapsed

The UK has lost 83% of its main department stores in the five years since the collapse of the BHS chain.

The figure highlights the extent of the upheaval in the High Street as the Covid pandemic sped up changes in shopping habits.

The data, compiled by commercial property information firm CoStar Group, also reveals that more than two-thirds of these shops remain unoccupied.

Some 237 big stores have yet to be taken over by a new business.

“The data undoubtedly highlights the acceleration of change in the retail sector in recent years, which the pandemic has only exacerbated,” said CoStar Group’s head of analytics, Mark Stansfield.

CoStar tracked the UK’s largest chains, from BHS and Beales to Debenhams and House of Fraser, from 2016 to the present day.

Five years ago, they had 467 stores between them. Now, however, only 79 are left.

CoStar Group also examined what had … Read more