Unchained How NFTs Are Revolutionizing How Creators Make Money - Ep.220
Mar 16, 2021
Jamie Burke, Founder and CEO of Outlier Ventures, pioneers blockchain investment in Europe, while Mason Nystrom, a research analyst at Messari, dives deep into Web3 and NFTs. They discuss the NFT surge, clarifying what buyers really get when they purchase them. Key highlights include the cultural impact of NFTs in art, music, and gaming, the success behind NBA Top Shot, and the challenges of valuing digital art. They also predict a shift from subscription models to an ownership economy, emphasizing NFTs' potential to disrupt traditional industries.
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Beeple's Impact
- Beeple's NFT sales on Nifty Gateway rivaled SuperRare's entire yearly sales.
- This demonstrated the potential of individual artists with large followings to drive the NFT market.
NFTs as Social Currency
- Early crypto art was often introspective and meme-based, focused on the medium rather than high aesthetics.
- NFTs represent status and a stake in the internet's native social layer, originating from crypto.
NFTs Beyond Art
- NFTs are a token standard for transferring data on blockchains, with diverse applications beyond art.
- NBA Top Shot's success highlights the retail appeal of NFTs linked to well-known IPs.