How NFTs Are Revolutionizing How Creators Make Money - Ep.220
Unchained
Intro
This chapter explores the transformative role of NFTs within the creator economy, featuring insights from industry experts. It covers the evolution of NFTs, market trends, and their potential to enhance user engagement and accessibility to blockchain technology.
Jamie Burke, CEO of Outlier Ventures, and Mason Nystrom, a research analyst at Messari, discuss the NFT craze that has enveloped the crypto world over the past few weeks. In this episode, they talk about:
- their backgrounds, and how they became involved in crypto (1:19)
- the major catalysts -- specifically Beeple and NBA Top Shot -- that have brought NFTs into the mainstream (5:29)
- why NFTs are a “megatrend” and not just another ICO-like bubble (13:35)
- how to explain non-fungible tokens to normies (18:06)
- what someone is actually purchasing when they buy an NFT (24:46)
- the reasons behind NBA Top Shot's success and why it is so difficult to withdraw money from its platform (36:27)
- the best way to scale NFTs and why Ethereum, despite severe storage limitations, will most likely remain the most popular blockchain on which to mint NFTs (41:44)
- why the gaming, fashion, and music industries will be disrupted by NFTs (49:37)
- when the current subscription-based business model for content creators will transition to the ownership economy (55:10)
- the differences between the marketplaces and platforms that make up the NFT economy (57:06)
- whether NFT valuations will go to zero and the challenges of appraising digital art (1:03:39)
- their predictions for the market capitalization of NFTs by the end of 2021 (1:15:23)
Thank you to our sponsors!
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Episode Links:
Jamie Burke
- Twitter:
- Outlier Ventures:
- Content:
Mason Nystrom
- Twitter:
- Messari:
- Content:
-
- NFTs as an investment strategy: https://twitter.com/masonnystrom/status/1310942572429312010
- evolution of content: https://twitter.com/masonnystrom/status/1361692703025729536
- psychology of crypto art collecting: https://twitter.com/masonnystrom/status/1365028848509870080
- the current state of NFTs: https://twitter.com/masonnystrom/status/1363283887691038720
NFT Sales Mentioned
- Beeple: https://www.cnn.com/style/article/beeple-first-nft-artwork-at-auction-sale-buyer-intl-scli/index.html
- Previous Unconfirmed interview with Beeple: https://unchainedpodcast.com/beeple-on-how-and-why-he-raked-in-3-5-million/
- Taco Bell: https://www.theverge.com/2021/3/8/22319868/taco-bell-nfts-gif-tacos-sell
- 3LAU: https://edm.com/gear-tech/3lau-record-breaking-nft-sale
- Jack Dorsey Tweet: https://v.cent.co/tweet/20
- Kings of Leon album: https://www.maxim.com/entertainment/kings-of-leon-releases-album-in-nft
- NBA Top Shot: https://www.actionnetwork.com/news/nba-top-shot-blockchain-nba-highlight-marketplace
NFT Guides
- New York Times: https://www.nytimes.com/2021/02/22/business/nft-nba-top-shot-crypto.html?utm_source=morning_brew
- DappRadar: https://dappradar.com/blog/what-are-non-fungible-tokens-nfts
- Andrew Steinwold: https://andrewsteinwold.substack.com/p/-quick-overview-of-the-nft-ecosystem
- Decrypt: https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain
- CoinDesk: https://www.coindesk.com/nfts-became-art-everything-nft
Miscellaneous Links:
- Chris Dixon blog: https://a16z.com/2021/02/27/nfts-and-a-thousand-true-fans/
- NFT market cap: https://nonfungible.com/market/history
- Outlier Ventures decentralized accelerator program: https://outlierventures.io/base-camp/
- Top NFT marketplaces (DappRadar): https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain
- Jesse Walden’s “Ownership Economy”: https://variant.mirror.xyz/T8kdtZRIgy_srXB5B06L8vBqFHYlEBcv6ae2zR6Y_eo
Flow blockchain: https://www.onflow.org/primer
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