Are NFTs Legit?

Disruptors

Rob Moore

Careers, How To, Business, Self-improvement, Society & Culture, Marketing, Investing, Education, Entrepreneurship

4.8 • 1.4K Ratings

🗓️ 16 February 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ever since learning about NFTs Rob has been intrigued; he loves the revolution and evolution of art and business. As a former artist, NFT’s have really captured Rob as they are a merge between art and entrepreneurship. However, he has had many questions and doubts and in this episode, he explores the legitimacy of NFTs and why he believes they have value. Robmoore.com/nft KEY TAKEAWAYS One way to escape the risk of ‘pump and dump’ is to look for an NFT that has utility. Then even if the NFT itself drops, the attributes, perks and bonuses still exist. Social proof is powerful. This is using social media, brand names and/or celebrities to create legitimacy. If you see this, fact check that it is real. If NFTs are scams then so is Art, yet no one would ever say this. A j-peg is no different to a painting, what makes the Mona Lisa valuable isn’t the canvas and paint but because of the story behind it; NFTs can be the same. BEST MOMENTS “In my opinion you can’t really say that NFTs are a scam” “All value is just a perception” “NFT is a scam for those who run it as a scam, it’s legit for those who run it legitimately” [Business, mindset, entrepreneur, disruptors] VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter https://robmoore.com/podbooks rob.team ABOUT THE HOST Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors” “If you don't risk anything, you risk everything” CONTACT METHOD Rob’s official website: https://robmoore.com/ Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979 disruptive, disruptors, entreprenuer, business, social media, marketing, money, growth, scale, scale up, risk, property: http://www.robmoore.com

Transcript

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0:00.0	So, are NFTs legit?
0:03.6	I remember being in the launch rooms for NFTs, they called them Drops about 14 months ago
0:11.7	and they went wild and people were literally buying JPEGs and auctioning.
0:19.2	They would get two or three whales in a room, there'd be a room of five, hundred or a thousand
0:24.8	people watching an NFT drop as if they were all interested in it, but in reality there
0:31.6	were two or three whales auctioning and bidding against each other and these NFTs, these
0:37.3	images, images would go for hundreds of thousands or millions of dollars and I remember watching
0:43.0	thinking wow, I used to be an artist, I couldn't even sell a two meter canvas for five hundred
0:49.0	dollars, let alone a little JPEG for hundreds of thousands and I was like hmm, I was
0:54.8	definitely fascinated because I love these new early adopter innovative technologies,
1:01.3	I love the evolution, innovation and revolution of business entrepreneurship and I love the
1:06.8	merge of entrepreneurship and art because I used to be an artist, many people don't know
1:11.0	that, but I must admit that hmm, I don't know how long this can sustain before all the
1:17.9	whales are gone or people don't want to pay hundreds of thousands of pounds or dollars
1:23.3	for a JPEG, so the question is then are NFTs now legitimate? Well I think as with most
1:31.8	niches or industries they can be legitimate and they can be a scam based on how they are
1:40.8	the individuals and the regulation within the market, so have people pumped and dumped
1:48.4	NFTs, whooped up a massive frenzy, got a load of people interested, sold a load and then
1:54.4	exited and taken their profit, pumped and dumped, yes this can happen and how do you negate
2:00.9	that, how do you overcome being pumped and dumped or you know if you're going to launch your
2:06.6	NFTs or buy an NFT at the peak and then it drop, well try and choose NFTs with utility
2:12.6	and value, so if the NFT has ticket access, VIP access, it has attributes and bonuses and
	...

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