Invest Like The Best
Episode 218 A Primer on NFTs
Invest Like The Best

Episode 218: A Primer on NFTs

Invest Like The Best

Episode 218

A Primer on NFTs

Jesse Walden is the founder of Variant, an early-stage venture firm investing in crypto networks and platforms building the ownership economy. We cover the basics of what an NFT is, what new creative paradigms they might unlock, and where we are in the NFT hype cycle.

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[00:04:19] - [First question] - Simple definition of an NFT

[00:05:22] - What distinguishes NFTs from each other 

[00:06:24] - The value chain of a song, and who owns it

[00:12:07] - Monetization and royalties on traded tokens

[00:15:02] - Consumer incentives for purchasing NFTs

[00:19:19] - Long-term passive income and media legos

[00:22:23] - Technical breakdown of minting, hosting, and storing tokens

[00:24:28] - Verification of token ownership on the blockchain

[00:25:58] - NFT marketplaces and aggregators

[00:29:46] - Innovations inspired by the NFT explosion

[00:34:30] - Physical cultural assets in the digital landscape

[00:36:02] - Legacy brands exploring digital goods and tokenized ownership

[00:38:37] - NFTs becoming the port of entry of all media

[00:39:39] - An ownership economy in second generation internet platforms

[00:42:41] - The “hype cycle” of NFTs and incoming market correction

[00:44:18] - Lessons for investors in the NFT space

[00:45:15] - Lessons for builders in the NFT space

[00:45:54] - Resources to continue learning about NFTs

A Primer on NFTs

Introduction

Patrick
My guest today is Jesse Walden, the founder of Variant, an early-stage venture firm focused on crypto networks and platforms building the ownership economy. With all the hype surrounding NFTs and given Jesse's background in the music industry and his focus on the creator and ownership economy, he's the perfect person to teach us about the future of NFTs. We discussed the basics of what an NFT is, what new creative paradigms they may unlock, and where we are in the NFT hype cycle. This episode is the first in what will likely become its own show that we are calling primers. Our goal for primers is to bring investors and operators from a zero to a seven understanding of a topic, concept, or industry. The goal here is for the education around these topics to be fast and entertaining. I hope you enjoy this discussion with Jesse Walden and hopefully the first of many primers to come. Our mission with these episodes is to provide access to the best ideas and people in business and investing. We will soon be significantly expanding the scope of this effort. To make it possible at Colossus, we're expanding the team and hiring two critical early roles. The first position will be our lead mobile software developer. This person will lead the development of our mobile applications, which will change how people learn together. The second position will be our lead designer. Because the existing team lacks UX and UI design experience, this person will have a blank slate to creatively design new applications from the ground up. To learn more about both roles, visit joincolossus.com/careers. Now onto the show.

The Defining Characteristics of NFTs

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