What are NFTs, why are they collectible, and why should you care? In this episode, Kevin interviews NFT guru Aftab Hossain, aka "DC Investor". They answer all your most pressing questions as well as bring you up to speed on all things NFT.
What are NFTs, why are they collectible, and why should you care? In this episode, Kevin interviews NFT guru @DCinvestor (aka Aftab Hossain). They answer all your most pressing questions as well as bring you up to speed on all things NFT.
Aftab Hossain (@DCinvestor) is a strategic advisor and private investor to projects in the cryptocurrency and blockchain space, with special focus on decentralized finance ("DeFi"). He specializes in technologies related to the Ethereum public blockchain -- the world's largest decentralized blockchain for programmable financial activity.
SELECTED LINKS FROM THE EPISODE
- What is an NFT (non-fungible token)? For that matter, what is a fungible token? [02:20]
- We've been able to freely download copyrighted material from the Internet for decades, so what makes NFTs valuable? How does something like a piece of art become a uniquely accountable asset when it's tied to the blockchain? [04:22]
- Why might a collector (of art, baseball cards, comic books, or any scarce asset) find the NFT market so appealing? [07:44]
- Why an NFT has better provenance than a mint copy of Marvel's Wolverine #1 or a rare Magic: The Gathering card. [11:44]
- What is DeFi? [15:26]
- What were the first NFTs, and how valuable are they today? [15:48]
- How NFTs have infiltrated the mainstream, and what any collector should keep in mind about investing in anything that wildly fluctuates in value. [20:19]
- How can someone "burn" an NFT? [26:49]
- Where can someone check out curated NFTs for sale? [30:27]
- What is generative art, and how is it represented in the NFT world? [32:11]
- What is the first instance of generative art being tied to the Etherium blockchain? [38:04]
- There are multiple new NFTs launching every day. What's caught our attention of late, and how does a potential collector discern between NFT-based art created by a legitimate artist that is likely to go up in value and junk churned out by some Photoshop-savvy teenager trying to cash in on the NFT gold rush? [40:32]
- As the owner of two EulerBeats NFTs, what can Aftab do with those assets? What are the potential benefits of an NFT to an established artist? [42:21]
- To someone asking if NFT collectibles are a bit like a Ponzi scheme, Aftab asks: aren't all collectibles a Ponzi scheme if you extend the analogy far enough? [45:02]
- What are Unisocks, and how can they be used? Why, from a practical standpoint, is this whole NFT phenomenon something worth trying to wrap your mind around? [48:10]
- Other projects in this space Aftab finds worthwhile. [53:43]
- Will NBA Top Shot live up to its hype? [56:46]
- Where can people learn more about NFTs? [1:01:12]