Cryptocurrency

The block chain is becoming this universal media library, on top of which developers are building all kinds of new applications and services. What will be the equivalent here for discovery? And how much will that then just be history repeating that the aggregator somehow ends up extracting a lot of the value? It's a little too early to call, but i'll offer some thoughts.

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Today we are re-sharing my Invest Like the Best conversation with Jesse Walden from March 2021.

Jesse is the founder of Variant, an early-stage venture firm investing in crypto networks and platforms building the ownership economy.

With all the hype surrounding NFTs, I wanted to talk to Jesse about them, given his background in the music industry and his focus on the creator and ownership economy. The conversation did not disappoint. We discuss the basics of what an NFT is, what new creative paradigms they might unlock, and where we are in the NFT hype cycle. I hope you enjoy this discussion with Jesse Walden.

For the full show notes, transcript, and links to mentioned content, check out the episode page here.

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Show Notes

[00:04:19] - [First question] - Simple definition of an NFT

[00:05:22] - What distinguishes NFTs from each other

[00:06:24] - The value chain of a song, and who owns it

[00:12:07] - Monetization and royalties on traded tokens

[00:15:02] - Consumer incentives for purchasing NFTs

[00:19:19] - Long-term passive income and media legos

[00:22:23] - Technical breakdown of minting, hosting, and storing tokens

[00:24:28] - Verification of token ownership on the blockchain

[00:25:58] - NFT marketplaces and aggregators

[00:27:06] - Opensea.io

[00:27:21] - Foundation.app