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HerMoney with Jean Chatzky

Ep 318: NFTs 101

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Business, Investing

4.71.5K Ratings

🗓️ 11 May 2022

⏱️ 48 minutes

🧾️ Download transcript

Summary

What are NFTs? Non-Fungible Tokens. But what does that mean, exactly? We break it all down with Kelly Groehler, co-founder and CEO of Alice Riot.  We tackle your most pressing questions, including: Is it safe to invest in NFTs? Where and how do you buy an NFT? Do you need a special wallet? How do you open one?How do you identify which platforms to use when buying an NFT? How do you identify which NFT to buy?What is the risk? How much money should you start with?  In Mailbag, we tackle 529 college savings plans. And in Thrive, four things you should do before quitting your job. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to an AirWave Media Podcast.

0:04.0

That to me is the biggest risk is to just jump into something because you had

0:10.5

phthalmone, you had to get in on something, and then you have no idea why you have a wallet

0:14.6

or this NFT or what it means to you, and you don't know what to do with it.

0:21.4

Investing in the market is about more than just money.

0:24.4

It's about investing in your future and your choices, it's investing in you.

0:29.5

If you're looking to optimize your investment strategy, visit planefv.com slash her money.

0:36.0

You can schedule a free appointment with an advisor today.

0:39.5

Hey everybody, I'm Gene Chatsky, thanks so much for joining me today on her money.

0:49.0

We heard from so many of you after our crypto 101 episode, which was episode number 303

0:56.7

to be precise, where we just explained all things digital currency and blockchain.

1:03.4

But the question on your minds wasn't about crypto, it was about NFTs, non-fungible tokens.

1:10.8

But what exactly are they?

1:13.4

Well, NFTs are original digital works of art that exploded onto the market during the

1:19.4

pandemic and served for a way for artists to be able to make and sell original works digitally.

1:28.0

They are crypto adjacent, which is the best way I can think of to describe the fact that

1:33.5

they are secure using the same blockchain technology used in crypto and in order to purchase

1:39.9

an NFT, you need crypto to buy it.

1:43.6

These days, everyone from famous musicians, like Jay-Z, to our favorite visual artists

1:50.1

on Instagram, seem to be making and or minting NFTs.

1:56.4

The artist's people made headlines in 2021 when his NFT sold at Sotheby's for a jaw-dropping

2:02.9

$69 million, then the NFT collective crypto punks sold the rare 8 NFT for 10 million in

...

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