Season 2 Ep #5: The ABCs of NFTs
What is an NFT (Non-Fungible Token)? How are they created? Why would you collect digital files that anyone can obtain or view for free? This week on IP Goes Pop! fellow Volpe Koenig Shareholder Joseph Gushue returns to the podcast and joins Michael Snyder to talk about the ABCs of NFTs.
Michael and Joe break down some of the technical jargon behind NFTs and the basics of the blockchain, as they explore the current trends and future prospects of this technology and how it could impact the pop culture world.
01:16 Traditional collectibles and the relation to NFTs
04:42 Non-Fungible Tokens (NFTs) introduction
06:51 What is the “Blockchain”?
08:56 Collectability of NFTs
09:55 Collections of NFTs
10:08 Artist Collects and NFTs
11:39 NFTs as assets
14:35 How NFTs affect assigning value to digital assets
16:57 Uses for NFTs
17:25 “Smart” contracts and blockchain
21:59 Intellectual Property Rights in NFTs
24:09 NFTs in Pop Culture
28:53 How Nike’s Likely NFT Move Could Shake Up the Sneaker Resale Market (Footwear News, Apr 16, 2021)
35:41 NFTs for Events - sports, “NFL per view”, traceability