Shownotes Transcript
Jamie Burke, CEO of Outlier Ventures, and Mason Nystrom, a research analyst at Messari, discuss the NFT craze that has enveloped the crypto world over the past few weeks. In this episode, they talk about:
- their backgrounds, and how they became involved in crypto (1:19)
- the major catalysts -- specifically Beeple and NBA Top Shot -- that have brought NFTs into the mainstream (5:29)
- why NFTs are a “megatrend” and not just another ICO-like bubble (13:35)
- how to explain non-fungible tokens to normies (18:06)
- what someone is actually purchasing when they buy an NFT (24:46)
- the reasons behind NBA Top Shot's success and why it is so difficult to withdraw money from its platform (36:27)
- the best way to scale NFTs and why Ethereum, despite severe storage limitations, will most likely remain the most popular blockchain on which to mint NFTs (41:44)
- why the gaming, fashion, and music industries will be disrupted by NFTs (49:37)
- when the current subscription-based business model for content creators will transition to the ownership economy (55:10)
- the differences between the marketplaces and platforms that make up the NFT economy (57:06)
- whether NFT valuations will go to zero and the challenges of appraising digital art (1:03:39)
- their predictions for the market capitalization of NFTs by the end of 2021 (1:15:23)
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Episode Links:
Jamie Burke
- Twitter:
- Outlier Ventures:
- Content:
- the open metaverse: https://outlierventures.io/research/the-open-metaverse-os/)
- 100xARt: https://art.art/blog/jamie-burke-and-100xart-a-true-story-of-the-rising-art-order)
- podcast: https://outlierventures.io/podcasts/)
Mason Nystrom
- Twitter:
https://twitter.com/masonnystrom)
- Messari:
- Content:
- NFTs as an investment strategy: https://twitter.com/masonnystrom/status/1310942572429312010)
- evolution of content: https://twitter.com/masonnystrom/status/1361692703025729536)
- psychology of crypto art collecting: https://twitter.com/masonnystrom/status/1365028848509870080)
- the current state of NFTs: https://twitter.com/masonnystrom/status/1363283887691038720)
NFT Sales Mentioned
Previous Unconfirmed interview with Beeple: https://unchainedpodcast.com/beeple-on-how-and-why-he-raked-in-3-5-million/)
Taco Bell: https://www.theverge.com/2021/3/8/22319868/taco-bell-nfts-gif-tacos-sell)
3LAU: https://edm.com/gear-tech/3lau-record-breaking-nft-sale)
Jack Dorsey Tweet: https://v.cent.co/tweet/20)
Kings of Leon album: https://www.maxim.com/entertainment/kings-of-leon-releases-album-in-nft)
NBA Top Shot: https://www.actionnetwork.com/news/nba-top-shot-blockchain-nba-highlight-marketplace)
NFT Guides
New York Times: https://www.nytimes.com/2021/02/22/business/nft-nba-top-shot-crypto.html?utm_source=morning_brew)
DappRadar: https://dappradar.com/blog/what-are-non-fungible-tokens-nfts)
Andrew Steinwold: https://andrewsteinwold.substack.com/p/-quick-overview-of-the-nft-ecosystem)
Decrypt: https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain)
CoinDesk: https://www.coindesk.com/nfts-became-art-everything-nft)
Miscellaneous Links:
- Chris Dixon blog: https://a16z.com/2021/02/27/nfts-and-a-thousand-true-fans/)
- NFT market cap: https://nonfungible.com/market/history)
- Outlier Ventures decentralized accelerator program: https://outlierventures.io/base-camp/)
- Top NFT marketplaces (DappRadar): https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain)
- Jesse Walden’s “Ownership Economy”: https://variant.mirror.xyz/T8kdtZRIgy_srXB5B06L8vBqFHYlEBcv6ae2zR6Y_eo)
Flow blockchain: https://www.onflow.org/primer)
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