Bankless 32 - The Bull Case for NFTs | Jake Burkhman & Andrew Steinwold
Sep 28, 2020
Jake Burkhman, the founder of CoinFund, and Andrew Steinwold, founder of Cephermion Fund and author of the Zima Red newsletter, dive deep into the world of NFTs. They discuss the potential dominance of NFTs over DeFi, highlighting their unique characteristics and applications in both digital and physical realms. The conversation covers the rising interest in NFTs, the role of decentralized exchanges, and how NFTs are empowering creators. They also explore challenges in mainstream adoption and the exciting future trends within the NFT landscape.
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Scarcity and NFTs
- NFTs represent scarce goods, a concept deeply ingrained in human DNA.
- Collecting scarce items like Pokemon cards or Beanie Babies is similar to owning NFTs.
Digital Scarcity
- Crypto's core innovation is enabling digital scarcity.
- This allows for true ownership and property rights in the digital realm, unlike the easily copied nature of digital information before.
Digital Art's Place
- Blockchain technology gives digital art a verifiable location and ownership.
- This solves the philosophical problem of digital art's ephemerality, establishing clear provenance and property rights.