35 Burst results for "Nfts"
"nfts" Discussed on BabyDoge Pow Wow
"I was considering it to be like a hundred, 200 somewhere around there. But I just went ahead and just bought it just to make sure I could land one because I thought it was going to sell out that night. But I think we ended up capping around. Was it like 3500 that night? The first night? Yeah, possibly might not have even been that much. Yeah. 35, 34, 35. Yeah. Yeah, 'cause I got into 2800s is when I finally got in, so. Yeah. But it was amazing. It was an amazing launch. And then following that we had open sea caught us at trending on all categories. And that was following day, my time will be midday. That would be posted this, but trending on open sea at launch. So that was pretty amazing. That was posted by our baby notion of T site on Twitter that's at babe and NFTs. Yeah. And that was very soon after. After the whitelist in commence, wasn't it? And trading was going mad on open sea. I mean, it was mental. Our floor bikes, because the mint in price was 0.148, right? Right. So the floor quickly became 0.2 eth. So we were up .06 8th on the minting. Price. Yeah. And currently I'm looking at it now. It's gone down a little bit. So it's at 0.178. But the volume traded is the most interesting bit. We are currently at 210 Ethereum volume traded. Which is a shave under half a million bucks. That's crazy. Yeah. That's pretty mental. Into dice. That's ridiculous. And it is ridiculous because nobody sees what pictures they are yet. So nobody sees what they've got. They are all blank. Until all 10,000 minted, they are blank. So nobody knows how rare they've got one or if they like it or what they are just trading and buying blank NFTs with a number on it. And some of them, if I sorted it, I don't know, sorry. I don't want to get too much sidetrack, but shout out to those that it inspired to dream and aim high. Oh my God. I'm looking at this now. Oh my God. All right, so there's one of them in the 5000s that's somebody listed that's got 7 days left at 5150 eth. I don't think this guy. Oh, come on. What is that? What is that in real money? I think I think I got my thing over hold on. 1 million 1 1 million 523,000. No, no, no, 15, 15 million, 231,000. My bad. 15 million. There's no way there's no way anybody is going to pay that for that rank. It was in the 5000s for that one. 15 million. Are you kidding me? Who's going to buy that, seriously?.
"nfts" Discussed on The Bad Crypto Podcast
"Is arriving April 15th is almost upon us so you want to get this done. I love Clayton dunley. Great. Hey, trav before we go to the Jimmy sung interview. I want to show you something. You and I are both holders of GaryVee's V friend NFTs and vcon is coming up in Minneapolis in 41 days from now in May. And they just released this new teaser trailer on Twitter and I'm pretty hype about it and see if you recognize any voices in this video. I wanted to show people that NFTs are much bigger than aren't. You're going all in. These are not just picture NFTs. Here's what's nuts. Every V friend comes with it. Three year ticket to VidCon. A Coachella meets south by entrepreneurial super confidence. Legend's coming. You're always about tomorrow. You just thought you were NFT business. You're taking that shit to the next level. I think it's brilliant. This conference is gonna be bananas. I can't wait for it..
"nfts" Discussed on The Breakdown with NLW
"Because they rely on models and assets inside centralized game clients. Crypto is as much a movement as it is a technology, putting items on a blockchain is what gives people trust that they have participatory ownership, which make people willing to buy into the game. These assets are backed by blockchain. The fact that these item collections are NFTs will make other people willing to build on top of them. NFTs are bad for the environment. Solana and L two solve this. NFT games are better for players and for game developers. Like the free to play revolution changed gaming, so will blockchain. The games of the future will be fully robust with open and programmable economies. So I am actually believe it or not, not particularly deep in the game space. I've never been a video gamer, magic the gathering is pretty much the only game I've ever loved and continue to love. However, I am watching this particular conversation closely. I think in many ways it seems logical that gamers would be the most obvious crowd for crypto for NFTs. These are folks who already spend a huge amount of time in what basically is the Proto metaverse inside game environments. They're used to virtual currencies digital assets. Just with a different set of parameters than the things we're talking about now in web three. However, the intensity of the antagonism from many parts of the gaming community towards NFTs and towards crypto in general is pretty fascinating to me. Part of the reason that I'm watching it so strongly is that if games actually win out with these web three models, if they can win over some of those skeptics, it suggests to me that other communities have skeptics are likewise going to eventually capitulate as well. Nexo is a trusted and easy to use crypto platform. Where you can buy cryptocurrencies at the touch of a button and start earning up to 18% annual interest that is paid out daily. They support all of the major assets on the market, and even allow you to swap one asset for another, or borrow cash against your crypto without selling it. Nearly 3 million people in over 200 countries trust nexo with their digital assets. So whether you're just getting started or you're a seasoned pro, get the most of your crypto today. With nexo. At any exo. Meet arculus, the next generation cold storage wallet. Oculus secures your crypto using three factor authentication, providing a simpler, safer and smarter way to store buy, swap, send and receive crypto, arculus is offline cold storage. Your private keys are encrypted on the Oculus keycard and are never online. Stay safe from hackers with no cords, no charging, no Bluetooth. Just crypto security made simple. By now at get arculus dot com. That's GET. ARC UL U.S. dot com. The breakdown is sponsored by FTX U.S.. FTX U.S. is the safe regulated way to buy and sell Bitcoin and other digital assets. With up to 85% lower fees than competitors. There are no fixed minimum fees, no ACH transaction fees, and no withdrawal fees. One of the largest exchanges in the U.S. FTX U.S. is also the only leading exchange that supports both Ethereum and Solana NFTs. When you trade NFTs on FTX, you pay no gas fees. Download the FTX app today and use referral code breakdown to support the show. All right, next, we're going to stay a little bit on the NFT train and move over to a thread from RAC. RIC is a recording artist who has been on the show before. He's a super smart guy. He's been involved with web three for a really long time. Dating myself quite a bit here, but I saw him numerous times at places like south by Southwest and in San Francisco back in the day, which was 2011, 2012, 2013, in any case, he wrote this great thread that also went viral called okay, so you hate NFTs. And I thought it was worth sharing here. Okay, so you hate NFTs. Cool. Let's talk about it. I'm not going to convince you, but at least I can offer the perspective of an artist who has been involved in the space since 2017 before any of you heard about it. First off, ecological concerns. This is basically solved pending imminent implementation. A lot of people seem to miss that the entire point of NFTs is to make content free while making ownership scarce. Nobody is forcing you to pay for an NFT. You can still enjoy it for free alongside everybody else. You like my music, you can have it for free. Scarce ownership empowers artists to make way more income. Without stupid ad based models. It eliminates the exploitative models of Spotify, Apple, Amazon, et cetera. Unit based slash per play economics in an infinitely copyable medium makes no sense whatsoever. This is a drastic economic shift, and it flips the entire model that we've grown accustomed to. A model that is held back several generations of artists predating the Internet. This is a profound change. I think of NFTs as a pseudo file format. It's completely open to anybody. Because of this, there is a very wide spectrum of projects that have surfaced. Some great, some not so great. That's how the Internet works. It's up to the individual to filter through these. Claiming all NFTs are a scam is about as tone deaf and uninformed as it gets. It's pure ignorance. It's like saying all cheese is bad or that all music sucks. Yeah, some are bad, but like anything there are tasteful and smart and interesting ways to do anything. We're in the first real wave of mainstream adoption and the tech is still kind of janky, and some questionable projects are having success. The market is not weeded those out yet because we're in year one of a multi decade wave. Do you think a ten K pfp project is a Ponzi? Here's a thought, don't buy it. If you squint hard enough literally everything is a Ponzi. Every person that took econ one O one is now suddenly an expert. Stock market, the U.S. dollar, et cetera I've personally taken a more fine art collector kind of approach than mass marketing my NFTs. It's more of my speed and I can focus on a smaller subset of people. I have 3.5 million unique listeners per month on Spotify, yet I made more income from 5 collectors. Am I scamming them? Would you like to ask them? And I'll W note he then tags those 5 people. I put everything I have into creating something that is moving and artistic. And we just sold a piece alongside Banksy and Basquiat. Meanwhile, web two platforms that exploit gamers and their makers come out saying it's scam. It's not a scam, it just makes them irrelevant. We don't need to convince you to join the revolution. Just continue to enjoy the free content we make for you. Except this time we're actually getting paid for it. How that is offensive, I do not know. You guys have been listening to me for a while. You'll know that this in particular, this power balance is what got me interested in paying attention to NFTs in the first place. Music is an area where we literally have artists like Andre, who performs under the name RAC. Telling us explaining to us how these platforms are disrupting power in their industry. I love his point that you don't have to care. But if you're going to pay attention at all, at least listen to what folks like him who are on the other side of that power shift or saying. All right, one more that I think hits on what has been a theme in through line throughout the week, which is just what the hell we're supposed to feel about markets right now. Are things going to be bearish this year because of the shift in monetary policy? Are they going to be bullish because people still keep coming into this industry and getting excited about what's being built here? CRISPR tweets, the 2020s may be the decade where value goes bust, growth turns into value and crypto rain supreme. That doesn't mean 22 won't be rocky, but in rockiness, there's tremendous opportunity. Some thoughts on how to navigate. While you could fully allocate your crypto portfolio at current levels, wake up in 5 years and be reasonably happy. In the meantime, you may have to endure a 50% drop leading to Bitcoin at 22 K, eth at 1550..
"nfts" Discussed on The Breakdown with NLW
"Vibing and buying jpegs. Frank Chicago over at the block says people who keep saying crypto hasn't been a hedge have clearly not been looking at the NFT market. Thus far NFTs have proven to be the strongest macro hedge. Convince me I'm wrong. Sue from three arrows tweets told some trad fight guy today that crypto natives hedge against uncertainty by accumulating NFTs. He thought I was kidding, I said, check the tape. So what the hell is going on here? Well, let's recap with what's been going on more broadly. At the end of last week, Bitcoin just broke down from around the $42,000 level where it had been hanging out, racing down below 36,000 on Thursday night before reaching Lowe's below 33 K during the weekend. It has also struggled to recover strongly. At the time of this recording it's trading near the 37 K mark, which is still down over 12% from trading levels from early last week and down over 46% from the all time high last November. Ethereum has done no better, losing its $3300 level at the beginning of last week and plunging to a low of 2200. Basically wiping out a third of its value in a few days. This drop puts Ethereum down more than halfway from its all time high above 4800 and it struggled to recover from the lows as well, now trading around 2400, which is more than 25% lower than levels last week. This drop of course has not been limited to crypto. Small cap Russell 2000 is now down 20% from its peak, the NASDAQ took an immediate 5% drawdown to start the week being over 15% off from all time highs and the S&P index is down almost 10% on the year. Basically, it is a down bad bonanza, with the exception of NFTs. Just to take one example, the floor price for aboard a barely budged over the last week while the rest of the markets tanked, drawing down only 5% before making a full recovery and now standing at about 95 eth, which is 15% higher than it started last week at. It's more crazy than that, however, this has been the best month for NFTs ever in terms of overall volume. Volume topped 4 billion for the first time ever, which is up nearly 20% from its previous August high. Another NFT marketplace looks rare vampire attacked open sea, meaning they airdropped governance token to open sea to try to lure users away and had 1.93 billion in trading volume in its first month. Google trends are showing that NFT search volume is higher than crypto for the first time ever and is also growing super fast in Asia. On top of all this, there's also been a ton of fundraising in generally positive activity. Pleaser Dow is raising $69 million clearly doing a bunch of stuff that investors think has enterprise value. They've named someone to handle the fractionalization and release of the Wu Tang album once upon a time in Shaolin, for example. Paris Hilton and Jimmy Fallon compared their board apes on his show this week, and on the same day that YouTube CEO Susan wojcicki issued an open letter, saying that YouTube is looking into NFTs as a way to help creators monetize content, two of YouTube's top executives left for web three opportunities. Ryan Wyatt, the former head of gaming is going to polygon AKA Matic and CEO of polygon studios and Jamie Byrne, the former senior director of creative partnerships is leaving for a leadership role at NFT platform bright moments. Next Ho is a trusted and easy to use crypto platform, where you can buy cryptocurrencies at the touch of a button and start earning up to 17% annual interest that is paid out daily. They support all of the major assets on the market, and even allow you to swap one asset for another or borrow cash against your crypto without selling it. Nearly 3 million people in over 200 countries trust nexo with their digital assets. So whether you're just getting started or you're a seasoned pro, get the most of your crypto today. With nexo, at any exo dot IO. Today's episode is sponsored by abra. Join over 1 million users and conquer crypto, with abra, and all in one simple and secure app where you can trade over 110 cryptocurrencies. Get 0% interest loans using your crypto as collateral, and earn interest, with up to 14% APY on stablecoins, and 8.15% APY on Bitcoin. Visit aber dot com or download the app from the Google Play or Apple App Store today. Abra, conquer crypto. The breakdown is sponsored by FTX. FTX is the safe regulated way to buy and sell Bitcoin and other digital assets. Trade crypto is up to 85% lower fees than top competitors. FTX U.S. is also the only leading exchange that supports both Ethereum and Solana NFTs. You can trade NFTs with no gas on FTX U.S. and gas subsidized when you withdraw off the platform. Help support the breakdown and visit FTX U.S. today. That's FTX U.S.. So what is going on? Well, first of all, we need to dig a little deeper into the quote keeping their value narrative. Remember how I said that the floor price of a board ape hasn't just not gone down. It's actually gone up, being 15% higher than it started last week at. That's true, but it's true in eth terms. In dollar terms we have a bit of a different story. The BAC floor in dollars dropped alongside eth prices at the start of last week initially, before recovering slightly and detaching from the eth price movement in the middle of last week to recapture levels at around 270,000 for a floor rate. The floor price then hit lows of a 180 K over the last weekend, which was down over 30% during the week, taking that same brutal drawdown in dollar terms that the rest of the crypto market suffered. However, the floor seemed to recover much more strongly than Ethereum reclaiming the 270 K level for the second time in a week with one giant green 30% candle to start this week. Price has been choppy during the week, but the floor prices stayed above 240 K for now. Other series like doodles cyber kongs and mutant apes have a similar story, taking 30 to 40% drawdowns in dollar terms initially, but recovering more strongly than Ethereum. So the point here isn't so much that NFTs are dramatically up while the rest of the crypto markets have drawn down over 40%. But NFTs are not down 40% from all time highs in either aether dollar terms. They've proven much more resilient than I think anyone would have imagined. A few people wrote about this. Delphi digital wrote, marquee NFT brands have stayed resilient amid all the macro uncertainty, while eth has fallen 35% since the start of the year, NFTs have grown in price and eth terms. Since NFTs are denominated in they are still exposed to the price changes of eth. Gnome Levinson wrote, people don't realize but what is happening right now with the NFT eth prices profound. And if teas are holding their value in terms of eth, many expected that when crypto crashed, NFTs would crash harder. But NFTs are the first micro Ethereum based economy. In this micro economy, eth is a stable asset. At a certain point, the price of Ethan relation to Fiat has no effect on Ethereum based assets. People want to accumulate ether, so NFTs are still attractive no matter if crypto is bearish. Now, there is another possible set of interpretations to all of this, which has to do with market structure. NFTs are super illiquid. And that means if there's no bid, IE there's no buyer, a floor can't be repriced, so things could appear more resilient than they actually are. Brad mills who admittedly is a Bitcoin maximalist writes when crypto prices crash the bids disappear for NFTs. The NFT holders don't see their net worth drop and interpret this as few. I'm glad I bought jpegs. At some point the bids completely disappear, and it probably goes to zero like the illiquid ICO coins in 2018 and 2019 did. A less cynical but still true take comes from vtl R who writes, you can't panic sell when you are all in into a liquid NFTs. An even less cynical take comes from mister bibble who writes NFTs should be the hedge in a down market. Big money can't short it, not like fed policy or stock market makes a difference in the price of our galactic space monkey derivatives. I think this idea of not being able to short it is potentially a meaningful part of this story. There's also an interpretation of NFTs that view them as somehow immune from regulatory forces, which are potentially causing nervousness in other parts of the crypto market. Auto suin tweets, ironically, I don't think Biden fund affects NFTs all that much. Too many big companies are already getting in. Maybe NFTs could be a hedge for crypto only folk. Dylan oral tweets how would crypto regulation in the U.S. affect our jpegs? I've noticed NFTs almost being used as an asset class as a hedge against crypto markets during this market pullback. What happens when we get some legislation in the mix? So what is actually going on at the end of the day? And the short answer is, I don't know, but I have a few different interpretations or at least things that make sense to me. First, I will say that I believe that down in USD terms but up in eth terms is still resilience. It doesn't mean that all of a sudden NFTs are some macro hedge, but it does suggest something about the dynamics of the crypto market. I think that's not something that should be ignored. Second, I do believe that a big part of that quote unquote resilience is illiquidity. The fate of NFT collections that the community has moved on from is that they just don't sell at all. There's no meaningful trade volume and with no meaningful trade volume. There's no real price discovery. If you can't sell because no one's buying, the value is effectively zero, but based on the way that we look at floor price, it's going to show up as something much higher than that. Third, I believe that in down times we're likely to see a stronger power law distribution of quality NFT assets. It wouldn't surprise me if there is a class of crypto native buyers, especially those who came in through the door of NFTs who see long-term culturally significant collections. Like crypto punks or like board apes, as a long-term store of value type of play. Unironically. If you have that mindset, it could be that the flight to safety in NFTs isn't trying to sell a bunch of your newer speculative bets to get into stablecoins, but moving more of your NFT net worth into the blue chip collections. Four, it is very clear to me that overall trading volume growth is impossible to ignore. No matter what you think of the individual collection floor price argument, the fact that open C had its best month ever while the rest of the crypto market was hemorrhaging is something that is absolutely worth noting. 5 to me this suggests that there are forces for decoupling that the market between regular cryptos and NFTs are moving potentially farther apart, with different but overlapping trading and holding bases. And this is happening even while crypto and macro are moving somewhat closer together. 6 I think that we probably though don't want to overstate this case too much. Keep in mind for reference that the total volume of NFTs traded this month is less than half of the overall volume on FTX alone just yesterday. It is totally possible that there is still a lot of energy within the NFT space because it's still such a niche relative to crypto as a whole. 7, that is not a dismissal of how interesting this is and how potentially significant as a trend it could be. I'm just as you guys know, not a fan of hyperbole. And so hopefully this breakdown helps you situate and understand and come to your own conclusions. I want to say thanks again to my sponsors, nexo dot IO, abra and FTX, and thanks to you guys for hanging out. I hope wherever you are, you are having a great weekend and until tomorrow be safe and take care of each other. Peace.
"nfts" Discussed on Techmeme Ride Home
"NFTs on user profiles, and also maybe an NFT marketplace. Because of course they're doing all this by which I mean, yeah, with all the hype around this stuff, the big platforms aren't gonna dabble in it. Of course they are. Would you be surprised if at WWDC, Apple announced some sort of NFT integration for iPhones? I maybe would be, but maybe not surprise surprise, you know? Anyway, quoting FT teams at Facebook and Instagram are reading a feature that will allow users to display their NFTs on their social media profiles, as well as working on a prototype to help users create or mint the collectible tokens, according to several people familiar with the matter. Two of the people said that meta has also discussed launching a marketplace for users to buy and sell NFTs essentially a digital asset representing art or imagery that can not be replicated. The move comes after meta chief executive Mark Zuckerberg last year said NFTs could one day be wielded to support a market for digital goods in its planned metaverse and avatar filled world that the company is investing $10 billion annually in building over the coming decade. Instagram head Adam mosseri in December said it was actively exploring NFTs without sharing specific details, but Instagram is now internally testing its NFT showcasing feature, said two people with knowledge of the fast developing plans. The Instagram NFTs project was initially spearheaded last year by Kristen George, Instagram's director of product and creators, and David Marcus, the former head of Facebook's payments and crypto arm who left the company in December another person said Marcus has now been replaced by Stefan kasriel, former chief executive of freelancing platform upwork.
"nfts" Discussed on Entrepreneur on FIRE
"My kind of mentality was, I think Gary's amazing. I love him. I thought him on the show. Many, many times, and he's just one of a kind of our generation. I know he's going to be doing amazing things for decades and decades and decades to come. So I said, what do I want when it comes to his NFTs? And I said, well, one thing I'm seeing after scrolling through all of them is only a handful actually have his signature on them. Some of these artworks that he did. So I went ahead and again, not really knowing what I was doing. And again, these were about $10,000 each so they weren't cheap, and I bought three of his spectaculars for three eth each, which was equivalent back then to about $10,000. And it's just been crazy to see what's happened in the NFT world since and that's just kind of got me down the rabbit hole of wow, I need to continue to look at what other projects people are doing and seeing all these other things. You must be happy about that by. I'm really happy about that by. I'm hanging on for dear life. I don't see myself ever letting this go. I mean, that's one of those things where I love the artwork. I love the message that the artwork actually has on it is actually went for he actually has phrases on it. Like one of them actually has a podcaster. Listening to love in the world. And I'm like, I have to get this one. That's so may. And I get to go to his event now in Milwaukee. I've already got an Airbnb with 600 people that bought these NFTs, these V Friends. So we're all excited for the Milwaukee events coming up in May, and it's just awesome. And the Apple. But yes, we'll see you there. Yes. Sorry. I will not go to Milwaukee. We did. We did book it in Minneapolis. Luckily, I wasn't in charge. Somebody else, somebody else knew what they were doing. And epic. It is funny. When you talk about it, you know, we're always like, oh my God, we could essentially sell these things for ten 20 X right now, but what we bought them for, but everybody's like, but then I can't go to vcon. But then I'm not going to get what Gary's doing next and doing next to add more and more utility to these NFTs. And study people like Gary fire nation, study people that are out there like Tom sacks with his rocket factory did such a cool project. What are they doing?.
"nfts" Discussed on a16z
"Give me a map and a terrain. Yeah, so there's vertical marketplaces where there's marketplaces for curated art or for certain types of collectibles. And then there's horizontal marketplaces like where that's more of a search box for all NFTs. And the reason they can do that is all these NFTs live on the blockchain is completely open. So they can query the book and agate all of them. And you can find literally pretty much every NFT on a horizontal marketplace like. Which is great because not everybody knows how to interface with crypto. This is like the way the web itself evolves. Right. And then each of these kinds of marketplaces, both vertical and horizontal more often than not allow creators to mint on the platform. Simple way to think about it, there's both supply and demand and you can either get it in the vertical form, which is specialized or horizontal, which is sort of everything. One really interesting phenomenon that's happening on the demand side of the market is you're starting to see these really interesting collector organizations sprout up. So crypto makes it really easy to send value as easy as sending an email. As a result, people are pooling value in interesting ways in order to participate in this market. One really cool experiment is this thing called flamingo Dow. Dow sends for decentralized autonomous organization. The core idea is you can pull resources with anyone with a crypto wallet. Send money into this smart contract that acts as sort of like a bank account, and then that bank account can go and buy NFTs. The group can buy NFTs. And so what that kind of looks like is maybe something like a fun or you could call it a gallery that's acquiring work. And by being in that collection, the creator is gaining distribution to the audience of collector slash investors who pooled resources in the first place. So that's another really interesting phenomenon that's uniquely crypto enabled. And I think we're going to see a lot more of that. I do too, and I love that because one of my favorite things in the creator economy in general is the way collectives can emerge about the femoral and permanently. I have a whole tweet storm about this, but I think it's super powerful to think about what happens when you unlock that kind of coordination. Keep going. Yeah. I mentioned vertical and horizontal marketplaces. There's also Jason. Just media platform is like we touched on Dennis's project mirror, which is a blogging platform where anyone can mint their blog post as an NFT..
"nfts" Discussed on a16z
"And then they received like all these additional benefits. And he retroactively distributed to his supporters. So this is a way that creators can interact with and reward their early supporters. So it's a really bad category and it can really be anything associated with the individual or community. And how is social tokens similar and adjacent to NFTs? And then when is it not NFTs? Can you help distinguish there just to help the understanding of what isn't isn't an NFT? Yeah, sometimes social tokens can be NFTs and that creator is issuing some unique piece of artwork directly to their fans. But in a lot of cases, social tokens can also just be fungible tokens. So RIC token, they're all fungible. So you can basically hold a certain level of them and that can always be traded and bought back and it doesn't really matter which RIC token you're purchasing. So those are kind of more adjacent. And I think the reason why social tokens and NFTs get long together a lot of times is just because it enables the creator economy, it enables creators to engage with their fans directly. And so these are often type pretty closely together. Right. But basically, the bottom line is, if it is fungible, it's not an NFT. And of course, if it's non fungible and non fungible token, then it is an NFT. Yeah. I think the line between fungible and non fungible tokens is blurry for a reason. And that's because the interplay between the two is enormous. You can take a non fungible token and turn it into fungible tokens by a fractionalize it. And then you can make those fungible tokens, which represent a piece of the original NFT. You can make those into a social token. So there's this token called B 20, which is a fungible token. And it represents a claim on some of beeple's NFTs, which an investor bought and essentially fractionalized ownership to..
"nfts" Discussed on a16z
"The city maintains. So you're always dependent on a third party to track the attribution of ownership, how the title changes hands. How is bank statements get updated? And Bitcoin changed the game because it enabled this public decentralized ledger where no one parties in control and yet each individual owner of a Bitcoin is able to verify their ownership using cryptography as a result, you don't have to depend on a single third party to verify ownership. Yeah, middlemen are tracking ownership for people of all these different assets and they're taking fees for the service. They're preventing some people from using the platform. And what's really powerful with crypto is you have all these open protocols that you can kind of plug into each other. And so when you have NFTs, you can plug them into decentralized systems and be able to trade these NFTs with anyone in the world and have that be instantaneous. You can also imagine plugging into using your NFT as collateral. So let's say you have video game items that work a lot of money, you can actually imagine taking a loan out from them. And so NFTs on the blockchain allow anyone permission to sleep own issue trade them and the brother property of being able to track Providence, which has essentially a built in secondary market to it, which is this idea that not only do you track the provenance, but you can actually track the financial benefits that accrue as a result of that built in secondary market. This is particularly true in cases of digital artworks, et cetera. Yeah, the secondary resale of an asset can be programmatically constructed, such that anytime the NFT changes hands, a portion of the resale value goes back to the original creator. And by when you say programmatically automatically, that is a distinct property of crypto specifically smart contracts that you can do that type of programmability of a contract. Yeah, can be totally automated totally transparent, contrast that with royalties in the music industry, which is like a completely opaque system with many layers of middlemen that are each taking a cut. It's a wildly more efficient architecture. That's uniquely made possible by blockchains and smart contracts. The blockchain is really good at tracking the history of things. Some of these send me one Bitcoin. Everyone can see that you have one less, and I have one more. Right..
"nfts" Discussed on a16z
"For everyone from artists and creators and other builders to big companies and institutions or just anyone seeking to understand or even just explain to others NFTs. If you're also interested in Taos, which we touch on briefly in this episode, we just recently published a list of readings all about dows. It's for anyone seeking to understand build and otherwise get involved with these decentralized autonomous organizations, which represent the future of community coordination work and much more. So we've curated resources for people at different levels of interest from dipping one's toes into going deep. You can find that at future dot com slash Tao that's DAO canon. Again, that suture dot com slash Dow cannon and future dot com slash NFT cannon and now on to this episode, we cut through all the noise around NFTs to share what precisely NFTs are, as well as the underlying crypto big picture before we dig into specifically what forms they take, then we cover common myths and misconceptions from confusing overlaps with other concepts to tackling commentary like it's just a jpeg, or that it's just hype to addressing the question of energy use. Also covering briefly how NFTs work, providing a quick overview of the players and ecosystem and throughout discussing various applications too. My expert guests are Jesse Walden, now a variant fund and formerly cofounder of media chain labs, which is acquired by Spotify and Linda che now of scalar capital, and formally an early product manager at Queen base, both are good friends of asics and crypto. As a reminder, none of the following should be taken as investment advice for more important information, please see asics and dot com slash disclosures. So let's just start with a quick set of definitions. What is an NFT? So NFT stands for non fungible token, which is just a term used to describe a unique digital asset whose ownership is tracked on a blockchain. This can be really broad set of assets from digital goods like virtual lands and artwork to claim on physical assets like real estate or clothing items. What I heard you say there is not just digital because it can cover something physical as well that you can essentially represent as NFTs. Yeah. It's a really, really broad space. It's exciting to see NFT art really take off, but this covers a.
"nfts" Discussed on Techmeme Ride Home
"To help people live the lives they want. Fidelity is a more than 75 year old company. They're privately owned. They're a financial institution, but they're also a company that invests two and a half $1 billion annually in game changing tech. A quarter of the fidelity workforce over 16,000 folks are technologists. And fidelity wants you to join them. Fidelity has their own industry leading incubator where some of the world's best minds collaborate and explore the potential in AI, machine learning, and emerging technologies like Bitcoin. And the blockchain. Fidelity's patent office has been issued over 266 U.S. patents in conjunction with fidelity's inventors. Their teams work in every time zone around the globe and collaborate using the latest video and social media technologies. Fidelity gives workers the benefit of a large company, but with a startup attitude. If you work at fidelity, you will not just be one of many because they empower associates to work on projects end to end directly impacting how they deliver financial services with more than $7.2 trillion in client assets under administration. You want to impact the world through FinTech, you can start doing it today. Consider joining fidelity. Check them out at find your fidelity dot com. That's find your fidelity dot com. Let's end today with a long read that's a bit of a follow-up. It was last week, I think that Discord for the moment at least backed down from adding crypto wallets to their service after a community based backlash. I said at the time, is there some beefing going on between communities on the Internet that I was unaware of? Well, a lot of you yelled at me like how could you be so ignorant Brian? Of course, people are beefing with the crypto people. Well, look, guilty as charged. I was ignorant of this when I don't know something. I'm going to tell you I don't know, and I'm not going to lie to you. If I don't know it, I'll say that. So several folks have written about this issue in the interim. Casey Newton, for example, had a great piece, but it's behind his paywall on his newsletter. So instead, I'm going to share from Ryan Broderick's garbage day newsletter since you can read that for free. And I encourage you to do so. I'm going to quote extensively from the piece, but I'm also going to jump around a bit when I do jump around to different sections of the piece. I'm going to add a record scratch, sound effect to let you know when I have jumped around. TLDR, it seems like furries are leading some of the NFT resistance on Friday I wrote about how furries and fandoms are actively trying to put pressure on Discord to stop the platform from adding features like meta mask integration. That could help crypto groups. And I came across an excellent Twitter thread from user at larsa prime this morning about how the gaming industry is also having a massive culture war over blockchain based gaming. He's quoting from the Twitter thread now people coming from crypto land severely underestimate how deep the distressed and disgust coming from traditional game developers can be at larger prime route. Like friends and colleagues will block you for openly working on these projects, hiring traditional game devs is going to require hazard pay end quote. But a web three culture war isn't just happening on Discord or in the gaming industry. It's happening everywhere. Last week, a Twitter user named at Nikko gay, downloaded all 10,000 of the lazy Lion NFTs and turned them into a mosaic of right click. And then, also, last week, at crypto Cobain, one of the most popular users in the pocket of the Internet largely known as crypto Twitter, threatened to start minting NFTs of the avatars of anti crypto furries, that right click and save people's NFTs. I need to pause here and just acknowledge that I am very aware of how wildly stupid all of this is, but like all things that have ever happened on the Internet just because it's stupid right now, that doesn't mean that it also couldn't snowball into a genuine sociopolitical movement. Getting to the heart of what is driving this web three culture war is tricky and changes depending on what groups are involved. As I wrote on Friday, everyone who isn't Mark Zuckerberg seems to agree that his version of a metaverse is bad. But the crypto guys who hate Zuckerberg are also feuding with the furries and fandoms that hate NFTs. I found it's easiest to think of this in Game of Thrones terms. Meta is the white walkers. Zuckerberg appears to be just as capable of human emotion as the night king, at least. And I suppose the crypto guys would be the Lannister's and the non crypto users would be the loose alliance of house stark the night's watch and the free folk. I mean, furries are definitely the free folk in this analogy. The best overall articulation I've seen so far of why web three is so hated by many online subcultures right now. West from at Niko, the Twitter user behind the right click mosaic. They explained in a follow-up tweet that they weren't anti NFT for ecological reasons, quote, the real issue is that they represent an attempt to reimpose artificial scarcity on culture at Nico dot gay tweeted. Digital scarcity is an anti human evolution ideology that imposes board game like rules which serve no purpose than to preserve the game itself. To hide the internal contradictions of capitalism that become painfully obvious in an area of culture that has overcome scarcity end quote. This to me feels like the main battleground for the next 5 years of online development on one side are people who want to make a lot of money on the Internet, like meta or andreessen Horowitz, which has invested in over 50 crypto startups and launched a $2.2 billion crypto fund last summer. And on the other side, as always, are the various online subcultures and communities and creators and users who really just want to be left alone allowed to safely and freely make and share whatever they want. There seems to be a growing consensus right now that if blockchain technology was truly useful, the communities and industries that have led the development of the social web for the last 20 years would already be using it. If NFTs were a good way to manage digital assets, this line of thinking goes, gamers, furries, sex workers, and fandoms would have launched crypto projects years ago. But there are some problems with this. It is true that furries are now the most anti NFT group on social media, but that doesn't mean that that community and adjacent ones haven't had their own problems with digital scarcity. And also the idea of the online porn industry innovating ahead of the rest of the Internet isn't as true as it used to be. What I'm saying here is that this looming culture war between the right clickers and monkey JPG owners is actually a waste of time. Crypto evangelists think the entire Internet should run on their protocol, which makes no sense. But also, they're probably our ways for the blockchain to help with some quality of life improvements for various online communities. At the very least,.
"nfts" Discussed on The $100 MBA Show
"You need to understand what you're doing. You don't invest in anything you don't understand. So do some research do some homework understand what you're actually investing in. Next, we are in kind of the rocket ship phase of NFTs, meaning that they're just trying to take off. And just like anything new, it's going to really have a lot of hype and a lot of momentum. But it will slow down and it will even out. Even though it sounds like it's going to take over the world, it's going to tick over the art world, chances are it's just going to be something that's going to be normal. But it just won't be as big as it is right now because of all the hype. It will just be something that we know and exists, but in my opinion in my estimation, the values of these will drop at some point and normalize. There are many people that are buying NFTs not because they see it as an investment, but they want to support digital art with us music, whether it's as actual visual art, the pointers is that they feel like painters and sculptors and classical artists have really been getting all the credit all the years. But hey, digital artists are a real artist too. And they should be supported, and that's why some people buy NFTs to support the artists. And because of the blockchain because it's verify that this is the actual artisan. It's only one of a kind. The artist actually gets credit for what they do. Where nfts are actually really taking off is actually in the youth market in the younger demographic. We're talking about 1819 20. Many of them were creating NFTs and selling them and dipping their toes in the business world through NFTs. Some are making millions. And some are just making some spending money. And some are just seeing it as a way to work on a project and showcase it to the world..
"nfts" Discussed on The Tim Ferriss Show
"Best. Very poor monetization are now able to go and create all sorts of interesting things. And this is we're seeing the early versions of it. You can create a jpeg. You can create digital album art, sort of an obvious thing the musicians are doing now. But it can be much more than that. It's just an object. Just like in the real world, we have all sorts of different classes of objects. We have art. We have utilities. We have NFTs are just as broad a concept. And so I think you're going to see all sorts of interesting experimentation where maybe you musician, you get something that's beautiful, but also you can go use in different ways. You can take it from a game or bring it into another experience, or use it to go to a real life show as a ticket. And it's also a means of patronage. I think one of the things I experienced, I really encourage people to participate in these communities to understand them, I buy nfts on foundation, which is one of our investments, which is sort of a high end NFT platform. Curated platform. For example, there's a science fiction writer who I was very graphic designer who I bought a bunch of his entities. And he DMs me and now we're Friends. And it's like, I never understood people that gave to bot physical offline art. I've never had an interest in it. Now I kind of get it, though, because I'm like, hey, this guy's cool. I want to be part of his being his network. Do venture capital. Hang around with tech people all day. It's fun for me to be able to talk to an artist. And at the same time, I can support him in the sort of non transactional way and be as patron. And see if some people are buying stuff on these websites to make money. So we're doing it to patronize. Some are doing it to I think down the road we're going to see more and more utility use cases. The gaming is really interesting right now. I think the world hasn't seen this yet, but I will tell you we have a games group at our firm that doesn't do crypto. And it's close to a 100% of the things they're seeing. Now, these are people out of these founders that come out of riot and blizzard and things like this. I think it's close to a 100% of.
"nfts" Discussed on The Times: Daily news from the L.A. Times
"Compassion <Speech_Music_Male> for <SpeakerChange> us. <Music> <Music> <Music> <Music> <Music> <SpeakerChange> <Speech_Music_Male> <Speech_Male> The del <Speech_Male> rio border were <Speech_Male> cloudy and other state <Speech_Male> no longer exists. <Speech_Male> According to authorities <Speech_Male> the us expelled <Speech_Male> thousands of haitians <Speech_Male> last week and let thousands <Speech_Male> of others officially <Speech_Music_Male> stay in the country <Speech_Music_Male> for now. <Speech_Male> Five thousand of those <Speech_Male> remain in federal custody. <Speech_Male> They'll be allowed <Speech_Male> to make their case before <Speech_Male> an immigration judge <Speech_Male> to remain in this country. <Speech_Male> But
Daos, NFTS and Crypto Derivatives Win Attention as Billionaire Paulson Calls Crypto Worthless
"What are the interesting things about. Hedge funds and venture investors. Is that often times. One really big contrarian bet that pays off can solidify investors reputation for a very very long time. John paulson had one of those bets. Betting against the housing market in advance of the great financial crisis. That position ended up netting him and his investors something like twenty billion dollars which is very clearly a career defining bet however it hasn't been quite as good since then at peak in twenty eleven pulse and managed thirty eight billion that was down to nine billion by twenty nineteen when he shut down his hedge fund and started managing his own money an estimated three point five billion instead this is not the scoff at three point five billion dollar fortune but simply to point out the paulsen is proven himself to be pretty firmly in the camp of one really good call which perhaps takes the sting out of his recent comments on bloomberg wealth with david. Rubenstein about crypto. The setup to that combo is one. Many bitcoin is in particular will resonate with basically he says that an expanded money supply is going to drive inflation. His bet however big time is gold. He's backed it for years. And this apparently is finally. It's moment crypto. On the other hand he says will eventually prove to be worthless. I wouldn't recommend anyone. Invest in crypto currencies. Santiago santos said on twitter. It's hard to know. How much is luck versus skill and investing unless you can win and lose on purpose to this day. I doubt my ability. Here's paulson who got a tip from a deutsche bank trader too short housing poor track record since won't be as lucky. This time with crypto masari's ryan sell. Kiss was a bit snark here. John paulson must be bitter. That about thirty crypto investors and entrepreneurs have now leapfrogged him in net worth betting on gold versus digital gold financial internet and the user owned economy at this point is record shadowing boomer energy. What a savage and true phrase record shattering boomer energy
Empowering Individuals Consent Using NFTs and Blockchain Insights From Acoer
"Jim thank you for joining us today. Could you please give a brief introduction to yourself our listeners. We haven't heard our first podcast. I won't eat hurry. Thank you for having me back. I appreciate your kindness. And obviously in perhaps and in retrospect foolishness bag but as you know i'm passionate by work that we do and i think is also important so happy to be back in and just talk to you by some new ideas that we have as you mentioned the core and Basically where a product development company. I really our vision. And our work is all about building useful usable. Real time technologies that can be used largely healthcare space. We have some clients matter spaces as well but but really focus on healthcare as you may remember was Formerly chief software architect centers for disease control in alaska. A number of years particular last couple years coed unfortunately being such a big issue for all of us globally. I've been heavily involved in building technologies around. They just help out. Forms and supporting specifically kind of covert response with over last year so with mayo clinic and somewhere public health so very much in this bays but but really kind of our vision. I think it is no way soon to be more efficient to more effective in i. It's just shameful to me that in the us we are so Wasteful you know when it comes to healthcare where we spent an enormous amount of money united society almost twenty percent of our gross domestic product. It goes to healthcare yet. You know we're at the bottom of the rankings. When it comes to effectiveness the bottle rankings when it comes to expense Medicine
How NFTs Will Affect Limited Edition Prints
"I'm a photographer. And i decided you know what i want to create a limited edition of nine cinema graphs that i want to release says in if i to be i want them to have value. And i'm not going to create them anymore so i want that level of exclusivity associated with them in today's world. Paint the picture of how that would happen in today's world and then how it will happen. Let's go out on a limb and say in thi is a foregone conclusion and say this is how will happen in the next couple of years being able to limit those editions. How would that work rent will be before before. Answer this remember the internet about twenty years ago a most people would use sudanese. They will use fake names to run things around the internet and data fell normal and using real names felt a look normal itself. Like why would you use your real name on the internet where everybody's a stranger but eventually became in these shows trusts so you trust people who have verified checkmark you trust people who have their real name their reputation of the density attached to their online persona and so thinking of the same thing. If you're making print a limited edition print and selling in your local market you're attaching reputation. People know that you know you will not print another same limited edition of prints a week later to sell it suspected audience because your trust is eroded in you are. We'll be shamed for doing so. What the blockchain label is that they bring all trust in the trust the society so basically you can trust mechanism because it's immutable It's impossible to change. And so once you touch a reputation your wallet or your identity to the blockchain of meeting. Everybody anywhere in the world can see at any point in time. What exactly have you done with those contracts Whether you sold them to yourself for example in like old history and where it's going and whether you printed or like minted another part of lives in peace so that is something that is unique because before if you made prince and decided to sell them in the different town. It's likely that nobody will be able to catch
How NFTs Could Disrupt the Art Market
"I would describe myself as a creator. This is afraid. O- salazar carro. He's an artist but would he makes is kind of hard to pin down. My current most favored mediums. or virtual. reality Speculative architecture biotech sure Agroforestry born in mexico city and moved to texas with his family as a teenager. Family trips back and forth across the border left an indelible impression on him and permeate work. I am the director of dreams of the daughter. A surreal documentary dealing with mexico border concepts and logic some politics i call it a magic realism documentary or a surreal documentary. The experimental film depicts the experience of the central american mass migration north. It uses three d scans traditional film footage and virtual reality to take viewers essentially in side journey from the guatemalan jungle to the arizona. Desert sell are karaoke tells the story from the point of view of a young girl. Ashiq i am the jeans and cheek. The spirit of a young immigrant tells us her dreams and memories or really shows us of her journey northwards and she wears a mask of a jaguar cub So she has this kind of mystical guide.
Guerrilla Girls: Corrupt Museum Boards, the Female Nude and NFTs
"Say thank you so much for joining us on the podcast and boy. Oh boy or should. I say go go. It has been a year with all the social and political uprisings from black lives matter movement to autism being arrested in protest over leaderships in russia. America hong kong to name but a few there has been a lot to shout about recent me so my question fastest. Has this been exceptionally busy. Time for the guerrilla girls. Actually it has you would think during the pandemic were all working. Virtually not together things would have slowed down but as you know. We have this big art night project launching next week. And we've still had exhibitions. Mostly virtual all over the place and our activism. never stops. We've been doing a lot of recent work against all kinds of museum issues museum corruption and things like that. So you're right. There are so many problems right now so many horrible things going on. But for us activists. That's what we do. We just keep pushing that rock up a hell trying to make things a little bit better. I think one thing. That explains why we've been so busy is that we've always been virtual. We've always been online. We of course did live appearances. We don't do those now but it's so much of what's going on now in in terms of protest and dissent happens online as well and we've always been you know working those working at routine.
"nfts" Discussed on B&H Photography Podcast
"Belief from the system as far as what you were talking about before. which was. Are there physicals win. What's the history in Where we going with that certain of the larger commercial ventures that had issued and if he's in sold them have include physical. So i know that kings of leon for instance offered a special pressing of the vinyl that was only available through their. Nf t. i think there was a rapper. That was offering a smoke session before a specific concert performance. For somebody who bought is nfc's Seven musicians offered meet-and-greet or lifetime front row seats people who buy their nf nfc's and some of the more prominent artists send out very beautiful elaborate physical representations of the nfc's to those who purchased from them There are a bunch of it related reasons why you might want to physical along with an nfc. But i really liked chasing was mentioning before the idea of merging the physical and the each approval Digital asset in a way that makes the real life thing come to life or function in a different way. I think what we're going to see. Is that there are going to be really curious. Czar an interesting intersections between the ability to had something that is provable. Distinct in electronic form and to interface that with physical. Things would be fascinating to me this. This concept of of cryptocurrencies has everything to do with mutually decided in protected value. Right to some have this a huge amount of support behind them. Let's take a theory in for instance which has lots with teas and one of the things that i find to be really fascinating about it. Is that no central authority. That goes back to peer to peer stuff. I mean i can remember playing you know or if you look at the if you look at the history of the internet and think about the arpanet about universities being able to collaborate with each other that was kind of a whole point of this thing and it was about sharing knowledge and sharing digital information without a central authority trying to create problems for that happening and then it became very sophisticated later and afterwards now we have the internet of today which is wildly more sophisticated and there's more sophisticated nodes on that network but all in all it goes back to the fact that i think nature. I really love sharing our work online. And that's why we even got involved with with instagram. Because it was just a a direct way to create a community and this is a different community much so but it is still a community and we find it fascinating that people involved with. It aren't the people who are traditionally buying artwork. They're buying this type of work. So it's it's a fascinating process and like nitrous said it's journey and one that we're learning every day all right well that that has been a wider conversation that i even anticipated at the speed for the rest of you guys as well and there's a lot more we talk about. This is a complex subject that is evolving as we speak about it a drew. Thank you so much for joining us. If people would like to catch up on a more of your output. Where should they go to. You can catch me on twitter. My name is at propel forward and Thanks so much for pleasure and again this information will be on our show notes and meet rack. Where can people go to catch up with what you guys are up to. Instagram and staerk derek. Paul jack boyle. I wasn't going to and he is a great painter. Everybody go to his clinton saying thank you major. I've seen but we're also on instagram. As meet actress at meet wreck. Mea t. w. r. e. k. comes from allocation our names mutual need and derek wreck like iraq. She's need it's a play on words upon you know so and and it's poetry. I think that was. That was my favorite one of my favorite parts of this discussion. I got a kick out of that. So i think it's. It's great to be collaborating with her. Well we look forward to having a all of you guys back again for future discussion and no doubt will be things to talk about. Okay that is a wrap of another show aired up a few things about in if tease. I know i have better understanding than i did about an hour ago. Like thank drew heynckes for showing up again always great having a guest and thanks again to derrick call jack boyle and mattress safari of meat rack. Great having you guys on the show and hope to see what you guys are doing in another year or two from now know it would be fun if you enjoy listening to the bean. H photography podcast. But you're not yet a subscriber. All you have to go to spotify apple podcasts. Google podcasts or ever. You snag your favorite podcasts. Type in be h photography podcast he entered. And you'll be a click away from every new episode and if you're already subscribe leave nice comment the boss actually read them and you can always find this on the edge explore website in on the bean h photography. Podcast facebook page. My name's alan whites and on behalf of john harris and jason tables. Thank you so much for tuning in to day..
"nfts" Discussed on B&H Photography Podcast
"The wild west. As i've heard it called a are really imagining like a different way of experiencing reality and i think that I think that it's really cool for us to like step our toes into that as we as we start on in we're learning a new language basically which is so. It's really awesome. I couldn't agree more. I think it's a really exciting time for for artists in the digital age. And i think this is. I think what we're seeing drew. I'd like to hear your your thoughts and meet rex as well. But it seems to be an unprecedented convergence of technology art and finance now so we have we. Have you know we can turn a piece of art into a token into into a coin that can like do stuff and we can give properties and it can and we can tell it to To to pay us when people trade them and all. So i think it's just taking it. Seems to be an amalgamation of ideas. That i can't find a parallel for in the past especially like nutritious pointed to bring it towards the philosophical direction because i think one of the things we have. We have constantly talked about between each other. Is that you know we. We study these things. We researched them but we are at our core photographers videography. So we had to do a lot of research to understand the benefits of of this environment and one of the things that we talked about the other day that i thought it was quite funny is when you're making physical artworks all the time whether it be a printed photograph which would be very much the case or a painting it's destructible it's quite destructible. Meaning if it's if it's messed up in the shipping or if it's damaged that unique item somehow loses its value. But when something is you know e- easily distinguishable easily exchangeable and verifiable with no central authority controlling that it becomes this new way to think about indestructible art. Because you technically own something. That's a reference to something that's visual. You don't own that visual piece. So ms delicensing of course determined that so it is kind of a new philosophical way to even think about art and i think that's what new turn. I are so fascinated by that. This is a shift like she said it's it's an exciting shifting and dynamic because the rules being written as we live through them is it changing the aesthetics of art itself and and the type of artwork that people are now being attracted to. They're always trans going on. Is this going to be a catalyst for a trend. I guess that's what i'm asking the way art looks Tastes change or is it just going to be just a different medium for for moving around so we we've seen some interesting projects. There's one out there called replicator which is a kind of cool image of a photocopier. That is animated makes you copies whoever controls that and if t. After twenty days gets a set of new entities that are generated by the operation of the photocopier in the replicator. Nfc each of those entities based on some random probability generator may create yet. Another new nf nfc or the printer may jam the copier jam. And it may not spawn new one and so what you have here is something that is art. It's a neat looking image. To begin risk. That's animated but it also has new component where it can generate new art and there's a certain random crawling to it. In some circumstances it will in some circumstances will. This is a place where you see art. Creativity and financial implications all sorts of dove tailing together projects. Like that interest. Me not just as a lawyer but also as somebody who's expanded space one. Larger trend that i've noticed is Having gone to grad school for art and seeing a lot of people who were very interested in doing three were modeling whether that be with. Meyer were advanced algebra programs. I'm noticing that people are feeling very free to post a very heavily digitally modeled work on As entities and. It's not so much a trend. You see a lot of gifts you see some videos but one thing that was interesting for us is we as As a group we. We didn't really think so much whether it's something needed to be an image or video is more just about the spirit of of the project. In matron i would just determined that in the moment as as andrew was saying before it. It really kind of depends upon that system layer. What's appropriate at the time. But one thing. I am noticed. I am noticing. Is that a lot of artists who were kind of. I don't want to say in the dungeon but artists who weren't really sure where their digital work lived now has a new vibrancy to it because People are very excited about certain teas. That are you know whether they'd be moving images jeff's or some other type of thing like a tweet you know i mean. I didn't know that tweets could be considered art. I mean i obviously know that anything can be considered but it's fascinating to see that valuation tied to it and that somehow changes it so aesthetically it is changing a bit but so rapidly and so absurdly that it's hard to keep track of so. Can you tell us a little bit about some of the decisions you may going into it going along in terms of the contract that you created for the work Derek wanted sure. Yes and no the licensing issues. And mike for instance what we were discussing before about when it comes to copyright. That's an entirely different thing. That i personally don't have a lot of experience with. I'm i'm more just moving pixels around in photoshop but like when it comes to thinking about how an nfc was set up. We kinda just dove in right. I mean i think we dove in. We were friends with a few people who were in the space and we were kind of experimenting. Okay you know. Should we use instagram to market. The nfc should be market. The t- Through other venues we use twitter. How do we get people to see that it's available at the beginning was very experimental and part of it was the community of like minded people who are excited about cryptocurrency investments. In what tokens represent. When they get involved it feels like a community. And i think that's what that's what's keeping healthy for for me. I is that it feels like something we can learn from but also that we're generating work within a community. That feels very different from the gallery system that we don't appreciate the gallery system. It's just wildly decentralized and because of that it feels you know as a way to verify transactions in a way that is unlike anything i've ever experienced as as a as a as a fine artist selling paintings or photographs and it's got that easily exchange ability to it and it feels like it's part of something that is tied to the gaming community in a serious way which has a lot of people who are very excited about this space in there seems to be positively about it to kind of like jumped in. Everyone has a different way of approaching. You know. I have some friends who who have told me that. They only want to put their work on auction. Because they believe that somehow gives more value to the work. But in our instance. We've done both. We've done an auction but we've also put up things for individual sale. And i think it's just meet your just as a collaborative we have to kind of work it out with each other. What we're both comfortable with and and it's been a. It's been a process to figure out the best way in which to present the nfc's but we've chosen to us open see primarily because that's what we had friends using at the time so we wanted to join tomorrow. We read a poem about it. Go ahead we go to the open sea in place work there for a fee to connect with like minds for eternity of feeling like being free.
"nfts" Discussed on B&H Photography Podcast
"The ability to attach to the audiovisual content a certify ably unique rare trackable item and then architect around a legal agreement that adheres to that used that aggregated sort of technical and legal structure together to prove uniqueness or authenticity is super powerful ever since smart contracts were created. The idea of provenance systems. The idea of tracking assets from you know from field to i forget what the phraseology is. But tracking various assets including things like cannabis that need to go from from seed to sale because of regulation or luxury goods like extremely expensive handbags. Where the providence of the asset matters. Those has always been concepts that blockchain technology has been thought to apply to so this is yet another example of it just perhaps most notably example that is caught on like wildfire if let's in photographer wants to associate or making an f. T. you know related to his photo. How does one do that. From a technical standpoint. There are several systems that allow someone to take a piece of audiovisual content to ensure a song. whatever. It is in very quickly and easily uploaded into a system. The system will then store a copy of that asset in one of the few different places many of them use a a storage system called ipf or interplanetary interplanetary file system which uses technology that comes from streaming sorts of systems like we discussed earlier In order to have a persistent copy of that asset that stored across a whole bunch of other servers. how does one prove copyright at that point. The the legal issues are entirely separate from the technical from a technical standpoint. You go on one in several systems you upload your file system grouts the file to some storage somewhere and creates a new asset on the blockchain most of which most of these systems use ethereal Some of them use another system called matic or another system called flow and At that point you as the creator have control of the nf t that has a pointer to the visual content stored on a server somewhere pretty simple and is there a fee for that some some platforms do charge. Some don't and also that can depend on the platform to we've noticed that some charge more some charge less so it's variable if you want something for yourself just have it. There are systems that allow you to mint pretty cheaply. You're gonna have to pay the costs so the actual transactions on the system. That's about it. There are other platforms. That are really difficult to get on. Because they're used by well known artists or folks that are trying to make a big splash. They have huge email. Lists contract wales. Who come in bid on their stuff. those folks those platforms might be more difficult to get on. There are platforms that are selective as to who can who can create and list on their platform. Then there's others that allow everybody with compatible technology. The ability to pay for the transactions to go ahead and mint on their platform the vast majority of the t sheri- conduct has been Has occurred on a theory. Theorems wide open therion allows any. It's permission anybody who makes a wallet and can afford the transaction fees can transact on a theorem The company dapper labs has created its own or is working with a company called flow that created its own closed environment and dapper labs has issued the nba top shots product which has been incredibly popular. There is another. There's another platform called. Matic which operates as a bridge to and from a theory that has either ultra low fee or no fee transactions and. There's some insurance behavior going on a matic as well. There's a good reason. Why a significant commercial interests may wanna be in a closed environment. We talked a little bit earlier about how. There's two dimensions to this technical legal. If everyone who's transacting with these assets in the same closed environment they can all be required to accept a user licensing agreement that means that requires them. To knowledge that the license to use the audiovisual associated with the nf t is transferred every time the assets transferred because everybody ops into the same agreement the licensed rights or the rights that are allocated by the licensing agreement will necessarily flow with the transactions the open platforms can't make that same guarantee at least under existing law interesting. We're going to take a short break. We come back. We're going to have artists. Derek paul jack boyle and meet you sabari also known as eight wreck. We hope you're enjoying this edition of being h photography. Podcast the best way to support the show is by subscribing on apple. Podcasts google podcasts. Spotify or wherever you get your podcast for links to gear and more information on today's guests. Check out the show notes in your podcast app or visit our home page on the beach explorer website and joined the photography podcast facebook group. And now back to the show okay. Welcome back meet. Wreck is a collaborative art. Duo consisting of artists. Darren paul jack boyle and meet your sabari. Who have recently begun to auction the digital work as nf tease. Their n f t sale. Heavy step went well and we only hear about how they created in seoul the nfc and talk about the traditional problems with digital content. That artists hope if tease will solve encourage chime in whenever he feels necessary. And we'll have a few questions for everyone towards the end of the show. Who's a past guest and friend of the show described meet wreck and i quote a collaborative project with beginnings in two thousand fifteen when derek and i made images poking fun at every dang zaidi's every single day saturday and sunday included. This went on for a very long time. We worked out limit every day and we didn't fear challenges at work together has always been displayed through the lens of social media and we encourage communication and growth meteoric has been featured on vice and wired and will include links to work in our show notes. Welcome jerick and welcome back to metre so you guys you sold your first t congrats at what what was what was the idea to compel you to go this direction as far as marketing you work you know when we first found out about. Nfc's we were really curious. What are the positives whether the negatives and it it's been an experimentation but one of the things that initially inspired us was the fact that other artists who we respect were becoming interested in them so i think it was more about the community at first than and mitchell is very good at supporting that sense of community within the arts and it's been an interesting development because our attitude towards nfc's has shifted. Even in the last weeks you know Rapidly and and there are positives negatives as as drew has felt out. But i believe that there is something to do with this idea of licensing contracts. That can get really interesting as artists who have made physical works before so it's about community but it also intrigued us how it it could provide some some really interesting new system layers for house. Secondary markets can can operate And the value of artwork where it really rests is it in is it emmy uneducated in the ownership or.
Are NFTs an Opportunity for the Financial Industry?
"We will be discussing. Nf teas are there for the financial industry. Or not and i'm very pleased to welcome charles carrigan partner and global head of fintech at the law firm. Cms charles welcome to insure blocks. Could you please give listeners it. Quick introduction on yourself facts related. I'm happy to be here. So i'm a lawyer at an international law firm and i spent my days wrestling with the challenge of war. New technologies. main for the industry's outlines. What and what. I talk about our clients. That's very broad range from financial institutions that have been around for hundreds of years. Three fintechs crypt type firms blockchain protocols looking around full hundreds of days since sometimes less than that so this is interesting because whilst you know whether they're a established company for hundreds of years or affectively a startup do all how some of the common challenges but i piece from podcast. I'm sure they also have different cultural challenges when it comes with technology. Is that something that sits within the remnant of of your of your job in terms of addressing. Yeah and we see in lots of different ways and the most obvious is probably the way that firms engaged with us and so at often with we're talking about a regulated industries here the financial market security insurance finance banking generally these regulated products that regulated firms and so they've got relationships regulators. They've got magazine issues. In some cases leading with a that's not the case with a lot of the new businesses
eBay Allows the Sale of NFTs
"Ebay announced tuesday. It will allow the sale of non fungible tokens or nf tease on its platforms. So as we'll need to meet certain standards to be approved to sell out of teas but ebay hopes to broaden availability over the coming
How Band Royalty is Revolutionizing Music Through NFTs
"This is a new world which is why we're talking about how noble specifically and ban royalty is literally going to be revolutionizing music. So i wanna kind of dive right into that noble right now with all the different music and teas that are coming out and for people again. I told you this might be a a to listeners. You can really wrap your head on everything we're talking about. But i do have a resident expert on this topic. Who will be hearing from very soon. Of course joel. Comm talked about in the introduction in you heard from yesterday of course on the episode but with all the music and tease which are non. Fungible tokens coming out. I mean people are the opportunity with nf in the music world. What specifically did you do. Noble to make band royalty special gloss over what we musicians are doing in the in. The non fungible token space. You know the idea of creating a collectible for your fan and you know you have kings of leon degraded their albums to their fans. Could actually the album yet. People putting out a special editions of the records have people going head in for their concerts and another guy put out in. Nfc where he sold out his concert for one point. Five million using nfc's in the cool part about it is able to create something special. It's always like fan memorabilia that they could not otherwise. Get because we've been in a pet a pandemic there's concerts going on in fact majority of musicians make something like seventy percent of their money touring going out on the road being in front of people selling merchandise in the light so it's really an awesome movement. That musicians are trying to follow suit with the visual artists that have found tremendous success. And not fundable tokens. You had people go to the christie's auction sell sixty nine million dollars the largest amount of salt of living artists and it was digital. There's no physical prince so people look at knowledgeable. They look at the collector environment as a real clear way to escape obscurity and to make themselves global immediately.
Episode 192: What's All the Hype Surrounding NFTs? [Test]
"If you've been tuning in every week woken free wednesday you know that welcome free is all about being real and honest with each other and you we talk about everything and anything important to ask you the world and nothing is off the table. This week we are asking the following. What's the hype surrounding. Nfc's ha if you don't know what that's about your in store for an entertaining conversation. Yes you're but before we dive even the subject a couple of things over i. Have you downloaded this episode on woken dot com popping app. If not please do because a. That's how you show your number one support for the show as well as how you join the conversation and that's really critical everyone because we want to hear from you every single week new content new opportunities to have engaging entertaining educational conversation. So make sure you do that now. If you happen to be unable to download the because of whatever device you're listening to doesn't allow that end or you're not in a position that
How Hollywood and the NBA are Betting on NFTs With Roham Gharegozlou
"I up rohamn. Gary goes lou from dapper laps. I'm here with jericho's lou. The ceo of dapper labs welcome. Thanks for having me. Thank you for coming. Thanks for walking me through some some basic questions. I have about what you're doing blockchain and t let me start here. Whenever i pay attention to blockchain which is sporadically over the years. I keep asking people the question. When will consumers be able to do something with the blockchain it seems like primarily is a theoretical construct and people use it to speculate with bitcoin and the two examples they pointed to over. The years are crypto kitties which made and now top shot. Which you've made so i think a lot of people have heard about top shot at his away. Essentially for you to buy and trade digital basketball trading cards at least for the moment said is that a fair summary of what of what you've made. Yeah well mean. I think i think we took the best parts of trading cards and we took it to the next level because tough shots are more than just pictures on on sort of rectangles. They're they're actually The the greatest highlights the greatest moments in nba history And the moments that are happening on screen and games that have that that are going on on tv and we actually cut high definition video. Where we're going to add a audio and in the future And it's just much more immersive experience. These are three d objects that in the future will be able to go into virtual reality. Augmented reality it's it's much bigger than than just trading cards but we took the best parts of trading cards sin and that sort of economy designed.
Topps to go public through SPAC deal as baseball card company ventures into NFTs
"Going to start with tops. yes tops. The company best known for baseball cards and bazooka gum is going public with mudrick capital acquisition. Corp so yes people. We have another spac on her hands. Michael eisner who used to be the person running the walt disney corporation is the chairman of tops. Eisner is going to remain in that position. You tell me. What can i interest you in a few shares of tops. Yeah i'm interested. You know chris. I sometimes make fun of so many that are coming out. We all talk about spanky stocks but to me this was because it gives you an entry into the collectibles market now there are some publicly traded collectibles companies funk. Oh comes to mind. They make those great bobblehead collectibles. You can purchase online or in stores but the opportunity to embrace to invest in baseball card. Collectibles is really neat. You know tops is not a small company more. It's been around for a decades sales last year. Rose twenty three percent year over year. Two five hundred sixty seven million bucks. This is going to be not an immaterial deal. The company will have about five hundred seventy one million cat in cash from the merger. I really like that. Tops is branching out into the most cutting edge type of collectible stare into. Nafta's non fungible tokens for those of you who are crypto enthusiasts. They have digital collectibles. I think last month. They introduced a godzilla. And if t collectible so this is not your father your grandfather's tops anymore. And this is what. I like about spags as much as i. I make fun of them personally. Sometimes they're giving you opportunities as investors opportunities to take part in sectors of the economy that we might not be able to aspects of introduced a lot of us to new avenues into alternative investments in the cloud cope. Collectibles market is an alternative investment avenue. That i've been interested for a long time.
NFTs and the music business
"Listeners. Mike snyder here. And i'm brett molina. Welcome back to talking tech. Recently you may have heard us talk about. Nfc's and they are still going strong bread. I think in a ps are here to stay as you reported two weeks ago. We've had all kinds of teas after you just hearing about them enough. Tease stanford non fungible tokens. That's a fancy way of saying something that is unique and irreplaceable digital ledgers. Or blockchain are used to authenticate whatever the nf is or whatever the collectible it is time to now. Some of the wild things we've seen purchased are nba video. Highlights jack door. She's i tweet. A piece of digital art for seventy million dollars and the rock band kings of leon did an nf t special vinyl copies of its latest album now other artists are getting into into the to lindsay lohan. Who i have to admit i forgot. She had put out some pretty popular music in the past is oxygen in often. New single called lullaby snoop dogg in the weekend of tweeted up there looking at music in peace but i just did a story on an artist named shantelle. She hails from barbados. She might remember her. R&b pop hits impossible t shirt while she's making a comeback after her record label contract expired and she's hoping us enough t as a way to maintain some power and control over her music. For her new single has party she's auctioning off the ability to have your name included in a special recording of the song and you could be one of three bidders to have your likeness included in special versions of the cover art of the single which will be signed an authenticated in
Can NFTs & Crypto Create Cultural Revolutions?
"What's going on guys. It is sunday march twenty eighth and that means it's time for long lead sunday now. The question we're exploring today is can crypto create cultural revolution's. I've said frequently on this. Show that the way i think about what i cover is fundamentally about shifts in power quiet. Cover bitcoin so much that i think it is a significant meaningful part of shifting power at a global macroeconomic level. Why cover other things. Less in the crypto industry is that it feels to me like many of them have potential but certainly aren't macro forces yet in other words yes one can see how defy might leave traditional financial processes in the dust but it hasn't really started to chip away at them as yet despite massive growth over the last year and if tease i've covered them have been primarily in the context of power such as the power to break the record label business models in the music industries. So when i saw someone write a piece about why some of these areas can and will inspire cultural revolution's fundamentally about shifts in power. I thought it was worth giving it a read. The piece is the digital cultural revolution. By david hoffman and it appeared first in the bank lists newsletter. If you are interested in defy or anything in this space bank is an absolute start at media juggernaut. They're putting out an insane amount of content so go check it out with that. Let's read the digital culture revolution. The crypto currency revolution is typically viewed as a revolution in. Money and technology crypto economic systems promised to usher in a new age of unbridled value transfer and value expression via the improvements in both scarce financial assets and technological mediums for leveraging these assets together technology and money composed so much of what makes society society when we change these things. We change everything. Much of what defines a society is mediated by the technological tools. We have available to create cultural expression. The crypto currency revolution is a revolution money in technology but the legacy of crypto will instead be a renaissance in human culture
NFTs are music industry’s latest big hit
"So. Nfl teas are essentially digital collectibles. That are authenticated or what we call minted using blockchain technology and purchased using cryptocurrencies. Like a theory so nf tease basically act as virtual deeds and they convey ownership of digital asset. Each one gets uploaded to a digital ledger where it tracks information like when it was created when it was sold for how much it was sold and who bought it and how are we seeing the music industry use teas. So we've seen musicians jump and auction off music. Tickets experiences art unreleased music songs. They hadn't put out before didn't think they'd have an audience for but you know have been able to find sort of rabid fans online so blau a dj has sold. I think over eighteen million dollars worth of these things. Seventeen million dollars in the past month. Most of that through a token is release of his three-year-old album. Ultraviolet and that grossed eleven point six million dollars and briefly held the record for the highest price paid for a single. Nfl tea at three point. Six million other artists like kings of leon released a new album as an nf t disclosure. Steve aoki's a lot of electronic artists. But we'll also see post malone said. He would auction off the chance to play beer pong with him in the clubhouse app this thursday. That is a very post vallone. String of words. Yeah so why is it so interesting to musicians in particular and this year in particular. This is super interesting to musicians because it is potentially a way to really connect with your core avid fans in another way and to make money from them the way that most artists make money as much as eighty percent of their income for a lot of artists is on the road touring. They haven't been able to do that for more than a year at this point with the pandemic so a lot of folks are struggling strapped for cash and they haven't seen their fans in over a year so this is another way to connect and another way to make money
Where's the value in NFTs
"You first saw the acronym ft show up in your tweets you got as far as not at four. And then you realize you're quickly going down the wrong path and trying to decipher it. Nfc stanford non fungible tokens now from there. If you're like me you thought it had to do with mushrooms. Maybe mario brothers. I don't know so then you read a paragraph of an article got bored or confused and moved on with the knowledge that all of your assumptions were wrong. But then you didn't actually replace it with any real knowledge okay. And so that was fine until you started seeing f. T. everywhere and you realize that maybe you should learn what it means and also you have a podcast taping coming up so here we are. And it's not that ludicrous bro. Stay with me all right. Mitchell mitchell clarke wrote a delightful article on the verge explaining t so i'm largely relying on that also wired new york times and a few other places. Let's go all right. Non fungible tokens are essentially a way that you can claim ownership of a digital thing. So think music art tweets yes. These are all reproducible. But so is a postcard of the mona lisa. So non fungible tokens exists on a blockchain at this point. Mostly a theory but others are getting on board and there are online marketplaces like open sea bull and fifty gateway where you can buy and sell the official ownership of the digital thing again. We're talking music video. Art animated gifts for artists provides a new way to sell your work and you can also set it up. So that you get a little kickback. Every time the nfc changes hands with a new owner. Lots nice so right now. You're like bro. Why would someone pay millions of dollars for an animated gif when you can just download it for free again. Why would someone bhai a monet painting for millions when you can get it on a mug from the gift shop for fifteen dollars so it all comes down to the basic tautology that some things have value just because someone decides it has value now for some people the value might be bragging rights to that end. You get to buy an nf t fred digital drawing of a cat because you are looking for a new way to show people. You are wealthy for others. Value might be about your phantom or support of an artist or musician. Kings of leon grimes dead mouse and many others have released. And fte's for music and art and for others. The value might be purely speculative. You're buying the nf t for digital drawing up a cat because you think it will rise in value as many other people agree. They want that authentic digital drawing a cat. And you're like seriously digital yes. Ten years ago. A guy named chris torres created the animated. Meam niane cat. You know it as the flying cat with a pop tart for a body and it's leaving a rainbow trail behind as soon as you google. It you're going to be like. Oh cat i totally know what you're talking about. So in february torres created an nf t version and put it up for auction and it sold for nearly six hundred thousand dollars following a last minute bidding frenzy other f- tease out there. William shatner is dental x ray digital baseball cards photos of lindsay lohan. And the first tweet. By jack dorsey just sold for two point. Nine million. don't feel too bad because the proceeds argos support a charity. So there's that and if t. Are definitely booming right now with probably more speculators than collectors and fans driving up prices but experts looking beyond the boom. See a great opportunity for a new way to guarantee authenticity. So for example nike already has a patent to create. Nfc's attached to shoes to guarantee their authenticity. Called crypto. kicks so when you consider that. A pair of air jordan twelve flu games are worth more than one hundred thousand dollars. Yeah i think. I want an fte with that purchase. Please and maybe you're still skeptical like a bunch of people in the comments of the articles. I read but seriously. How is this all that new and different. It's not like people buy sneakers art or baseball cards for the value of the materials themselves. They buy them for the aesthetics. The design the rarity as the new york times quoted. Marc andreessen. ben. Horowitz a two hundred dollar pair of sneakers is like five dollars in plastic. You're buying a feeling and right now the feeling that. Fte's is similar to one a stamp collector or baseball card collector or art collector or fashion. Or even a speculator might feel. It's that feeling that you are special because you own something someone else wants.
What the Heck are NFTs? Let's Ask Beeple.
"Mike welcome or should i call you. People your can just call me. Mike was weird. Call me don't you dare call me my dungeon from high school with swish e issue. So let's not get into these things which makes a lot more sense but explain people. It's like a fuzzy. Like you walk looking thing. I'd get over there okay. Reach it adds a toy from the eighties. Kinda like beeps and makes a sound. they're not that popular. If you look at just go people toy and you can see what they look like again. This is something. I named myself like years ago. Why as. I did not expect to be answering this question. Twenty years later right. Because is an artist. Moment of artistic reverie or what in my more solid like when you cover. It's is it beeps and so it like when you change the light it beeps. And so there's a sort of interplay between light and sound and the i work that i did looks nothing like the work you see. Now and it was really very like abstract audiovisual tightly sinked audio and video. So that's why i did it. So that that interplay between light and south. I say so you happen to like this toy was it who gave it to so our family actually gave it to my grandma and then and this was an toya head like growing up right. We gave it to her. When i was like ten or so and then somehow i just took it back right like five years later or ten years later and that was that it wasn't light bright or something like that. That would have been a different name for you. So mike winkle. But i'm gonna call you thank you very much. I appreciate it so way before this auction. You're creating digital art and showcasing places like instagram and twitter. That's where you started sharing. This is a project you started. I think it was may two thousand seven. Were you created and post new digital art. Work every day Talk about this effort and why you wanted to do this. Yes so when. I started this out The first one was made. I two thousand seven. I wanted to get better at drawing. And i'd sauna an illustrator out of the uk named tom. Judd who did like a sketch -oday in his sketchbook And he did it for about a year in like. I think i thought that was a cool way. To sort of like you know incrementally improved. And so i started doing a drawing every day And like posting it online again this just on my website and literally. Nobody was seeing it besides my mom and light three friends And so. I did that for like a year and If you look at the christie's actually you can see all of those drawings. In the upper left hand corner there are all sort of like they're in the lower right hand corner is the last of the like five thousand day And so after a year. I learned a lot. It had pushed me to sort of like try a of new techniques and so after that i was like well what if i use that same thing to teach myself a three d program which i didn't know and when i say three d program it's similar to what they make like pixar movies. Yes spain the art telling these software so the software basically has it's it's like a three d world where you can place any sort of objects or build any sort of objects and then you have lights virtual lights that you place and and play some around the people and then you have a virtual camera and you basically shoot a picture of the the people. The way i work now is really almost like i have a huge giant collection of three d models. There's marketplaces where you can buy. There's thousands upon thousands you type in bike. Here's know eight hundred bikes which by deal on and so you can just buy these models and then you can use them and stuff and so i can with one. Click pull those into the scene and then i can sort of pose them. Put them wherever i want. Scale the mob scale them down. It's almost like playing with toys. I've got the biggest bass toy collection. I could break them apart and put you know a new head on a new body on new arms on whatever and then sort of set up these scenes and take a picture of it. And you don't want to compare it to clip art but it is doing a collage online corrective some but in a three d format. Yeah it's like that because again. I'm taking these assets that you know. I had not built sort of putting them together in sort of a bunch of different
A brief guide to NFTs
"May have heard news recently about the auction house christie's announcing that an artist by the name of people sold a piece of artwork for more than sixty nine million dollars big price tag. The hurt the third highest price for living artists. Here's the thing though. This piece of artwork isn't actually a physical work of art that you would hang in your home it's all digital it's only digital. The work was sold through what is called an nfc. it is growing technology. That is being used a lot recently. You've probably heard the term. Nf teased quite a bit in the news recently. Some examples of this of the nba has a new collectible service called nba. Top shot where you basically are collecting highlights from nba games. So for example you might see a dunk. That lebron james makes in a game you can go to this site and you can bid on that highlight and quote owned the highlight and that is how the service works We've also seen some other people really get involved in it as well Kansas city chiefs quarterback pat mahomes launched his own digital art gallery using these tesla ceo elon. Musk recently sold a tweet of his as an nfc which seems absolutely bizarre but it gets to the big question for some of the listeners out there potentially what isn't nfc. We're going to try to break it down a little bit here. We have a lot more of this available on tech dot usa. Today dot com. So we're gonna try to give you a cliffs note version of this but to explain it simply as simply as you can for something as complicated as this. Nfc stands for non fungible token so the way it works is if you're looking at something that's fungible. It is something that's easily interchangeable. Think about money for example if we each have a twenty dollar bill we can exchange twenty dollar bills and the values the same and it really doesn't make a difference with an nfc or a non fungible token each of them are unique. Each of them are different. So i might have an nf t and you might have in an f. T. we can't trade them value for value for each other because the values of different because they're unique they're different in a variety of ways. So that's what makes them non fungible so basically what it is is because it's digital. It's not a physical thing you have. It is basically a piece of data that that you own something. So in the case of the bidder at christie's auction he owns a piece of artwork in the case of someone who saw a really cool james harden layup or pass. They owned that clip online on nba. Top shot And we've seen some other weird applications for this technology to But the way it works is it's all done using blockchain technology now for the listeners that are saying to themselves. okay wait blockchain. i don't know what you're talking about here. so blockchain works like this. It is basically. It's kind of like a cloud storage database and what it does is it tracks transactions of items or assets. Let's take something like bitcoin. For example which is a currency that. I'm sure you've heard of quite a bit Something that a lot of people used to buy things online. So you have. Bitcoin and bitcoin is built on blockchain. So what happens is when you have this blockchain technology it is tracking every time someone is using. Bitcoin keeps track of wind. Bitcoin is transferred from one person to the other for a purchase. And that's essentially what it's built on so if you look at all. The history of bitcoin has an open blockchain. It's essentially an open database where you can review the history of all the transactions that have been done through blockchain. Now you don't see people's names or ideas or anything like that but it has a regular tracking of where this bitcoin is going and so that's kind of entities are instead of a bitcoin. It's this and f. T. and it's the same principle where it using this blockchain technology it's tracking every time this nfc's ownership is transferred. And you have a ledger and accounting of every which way this has been sold or resold and so on and so forth. You know you obviously can do this with bitcoin and economically. Do this with stuff like a tweet or an artwork or in the case of a article. New york post. Someone did it with the sound of their own farts. Which again if someone's willing to buy that sure that's great but there you go. That's that's how far we've gotten with all this experts. I've talked to have said that. One of the big benefits to this is the security Because these blockchain's arc run by one central company or one central administrator there on peer to peer networks which means they're spread out across lots of computers. So there's really no one place these are stored and so because they're spread out. It's much harder for someone to say. Go in an altar records that are recorded on a blockchain. So that's one of the big things and there's a lot of talk to from experts that this might be the wave of the future one expert. I talked to recently had said that you know one possibility. Is there used to track land titles and deeds so for example instead of dealing with those mountains of paperwork that you have to deal with. When you're buying a house or selling a house or things like that you would do it all using this blockchain technology and it would be done on the computer. And it'd be much simpler wireless paper while signatures and that. That is a very fascinating us. Obviously we're very far away from a lot of this stuff. All the stuff right now feels very strange in new. And there's really a lot of hype around it. So that's why we're seeing weird stuff like people selling their own individual tweet as an nf t- It makes everything on the internet. Feel like it's a commodity Whether that lasts again. It's too early to say. I think you know. Obviously there's a lot of hype around this and it's definitely worth watching because you know i if this all you know goes as it seems like experts have suggested i mean this could really changed the way we do things in terms of buying and selling and dealing with all those Types of this on the internet So we'll see where all this technology
Sonos announces it's new Roam speaker
"Let sarah santos events ish. They announced a portable bluetooth speaker. Called the rome hundred sixty dollars. It's pretty cool. Yeah it's a uey boom with sonos logo. Very chris wallace because he likes scooped. The whole thing so like the element of surprise is like compared to the boom. It's got sun tech in it. You can also just like seamlessly move audio if your bluetooth thing it to that speaker you can move it to the rest of your center speakers which is cool. Yeah it seems like is about to dramatically expand this product line. Yeah you know it's funny. This is the first really portable sonos product like they had the move was at twenty thousand or something like that. But that was portable from like your kitchen to your porch. Nobody really is bringing that thing around. 'cause it weighs eleven pounds but this is boom sized thing so we're very familiar with that foreign factor. You throw it in a bag take into the park. You take it to the beach. Take it to a friend's house for whenever we can do that again. And like it's bluetooth speaker and then when you're home it's a wifi speaker in integrates with your wifi so system which is really bad so i think it's pretty cool. I think a lot of sonos customers have been wanting this for a long time. I don't know how many people outside of the sonos world will be interested in it but yeah that's a big question is is this going to be an entree into the living dishonest life or not. I love that. They may basically through every feature that i would ask for right. I'm like oh. What do i want to have bluetooth speaker with everything. Okay i google assistant. I want lexa. I want wi fi to connect to sonos. I want bluetooth. I want wireless charging office standard. She pat i wanted to charge a usb. And i don't want to be too big and i wanted to. You know have good sound like they just checked down the list. Like if i had to complain about the spec i would say that the the handoff feature uses like super super high frequency tones that nobody can hear instead of just using an ultra wide band. Or something like okay. Who cares that's really what's tv but a different kind of frequency. Anyway i mean really for for yeah. That's true so i like this thing. Is it worth seventy like. It will be for me. I think because i will. I have it integrated into my sonos system. I will say this in a question that only virtual would ask. We confirm that you cannot use surrounds versa. That's garbage. i take it all back. The only people who asked people care. But i personally loved the idea of putting my surrounds away. Bring you a so funny battery operated through. I don't think anybody else cares about that. It's true they've packed every feature into it. It's very competitive. I think that the idea that like most most days you don't get any value your bluetooth speaker right like it's just like at home. He put it in a closet. You take it out when you want to travel or like your house because it's part of senators. You might get a lot of value out of it. Might like keep it in your bedroom and use it there most days and then we want to leave up and go especially if you buy the charging dock but like patrick spencer. Good friend of our show give in to the yank protocol. He's like we're expanding. We're going to put this thing in stores. You might not expect like particularly outdoor stores looking towards that camping stores. They're moving to expand the product line out of its normal