How NFTs Are Revolutionizing How Creators Make Money - Ep.220
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! Download the Crypto.com app and get $25 with the code “Laura”: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021 Square: https://square.com/go/unchained Episode Links: Jamie Burke Twitter: https://twitter.com/jamie247 Outlier Ventures: https://twitter.com/OVioHQ Content: the open metaverse: https://outlierventures.io/research/the-open-metaverse-os/ 100xARt: https://art.art/blog/jamie-burke-and-100xart-a-true-story-of-the-rising-art-order podcast: https://outlierventures.io/podcasts/ Mason Nystrom Twitter: https://twitter.com/masonnystrom Messari: https://messari.io/ 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 Learn more about your ad choices. Visit megaphone.fm/adchoices