Exploring NFTs

In this episode of Magic Internet Money, host Brad Mills invites NFT (Non-Fungible Token) specialist and art collector, Steve Wand to the show to discuss the recent boom in NFTs. Steve explains what NFTs are and his experience with virtual assets and collectables pre-NFT. For the unaware, the short version is that NFTs are a blockchain signature that can be attached to digital items and then sold. Wand discusses a little bit about the “metaverse”; the concept that the digital space will increasingly resemble meatspace. The two share their history with virtual economies from video games like World of Warcraft to various blockchain projects.

Timestamps

00:01:39 - Show start and introducing NFTs

00:05:08 - Cryptopunks and past NFT projects

00:07:07 - The value found in digital assets

00:14:10 - Altcoins and tokens; why NFTs are different

00:18:27 - Ethereum struggles and digital art

00:23:07 - Potential NFT bubble

00:30:00 - Virtual real estate and other digital goods

00:36:56 - Future use cases for token technology

00:49:32 - Future speculation

01:09:32 - Social media plugs and wrap up

Links to Mentions in the Show