Mercer actuary David Knox says the data used to determine the old age dependency ratio is “totally out of date” and overstates the severity of the problem.
From their inception, SMSFs have always attracted more than their fair share of criticism. Now it’s an ageing membership that’s being used to restrict their numbers.
Greatest “meme stock” pivots into NFT world
GameStop Corp (NYSE:GME) – GameStop is back. The US video game, consumer electronics, and gaming retailer has unveiled a new partnership with blockchain-based non-fungible token (NFT) platform, Sydney, Australia-based Immutable X (Ethereum token), in a move to expand into the NFT ecosystem. GME shares rose 3 per cent on the day.
It seems GameStop is looking to launch into the NFT marketplace to take advantage of the booming market and complement its digital pivot into e-commerce. And it makes sense. The company is dedicated to creating content from gaming studios, and as such has also announced a $100 million fund in Immutable X’s IMX tokens to support creators of NFT content “Web3” and metaverse gaming.
“The partnership establishes an up to $100 million fund in Immutable X’s IMX tokens, which the parties intend to use for grants to creators of non-fungible token (NFT) content and technology. Immutable X will also become a layer-2 partner and platform for GameStop and the company’s NFT marketplace that is expected to launch later this year,” the announcement reads.
The market for NFTs is pushing past US$25 billion ($35.2 billion) in sales in 2021 up from $94.9 million the year before. Immutable has created Immutable X, a Layer-2 scalability protocol for NFTs on Ethereum, the second-largest blockchain network. This means it enables transactions at a much faster rate compared to Ethereum, requires low computing power, and has lower environmental impact.
This has been one of the biggest announcements GameStop has made since it announced its plans to enter the NFT and metaverse world earlier in January. The switch into NFTs was made when it employed roughly 20 veterans to run the newly formed division.
