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
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