Harvard Business Professor Explains Investing in NFT's

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 10 April 2024

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

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Summary

Financial literacy includes understanding NFT's, DeFi, and cryptocurrency. But it's hard to separate education from hype. Harvard Business School's Scott Duke Kominers, a professor in Harvard's Entrepreneurial Management Unit, and a Faculty Affiliate of the Harvard Department of Economics and the Harvard Center of Mathematical Sciences and Applications, joins us alongside Web3 expert Steve Kacizinsky to explain the financial, technological and social significance of NFT's. NFT's, or Non-Fungible Tokens, are a rapidly growing digital asset. Comprehensive financial literacy requires understanding NFT's. While NFT's are emerging opportunity for investment diversification, they are also highly speculative and volatile. NFT's also represent how digital ownership is evolving, and have implications for the economic futures of a myriad of industries. These assets stand at the intersection of art, technology and commerce. This episode provides a deeper understanding of NFT's, taught by a Harvard Business School professor and a Web3 expert. For more information, visit the show notes at https://affordanything.com/episode498 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	If you have an interest in financial literacy, that includes learning about the world of non-fungible
0:04.7	tokens or NFTs.
0:07.1	Now, there's going to be polarized response to this.
0:12.0	Some people are highly interested in learning about
0:13.7	NFTs, others are quick to disregard it. But if financial literacy is the
0:19.9	objective, then learning the foundational elements of NFTs is imperative.
0:26.5	Today, Harvard Business School Professor Scott Duke Commoners, along with Web3 expert Steve Kaczynski, join us to explain at a deep fundamental
0:39.2	level what exactly NFTs are. Welcome to the Afford Anything Podcast. You can afford anything, but not everything.
0:47.6	Every choice carries a trade-off, and this show is about optimizing money, time, focus, attention, and all other limited resources.
0:56.8	I'm your host, Paula Pant, I trained in economic reporting at Columbia University, and I
1:01.4	help you focus on what matters. Today as I mentioned
1:06.7	Harvard Business School Professor Scott Duke Commoners joins us for a no frills no BS explanation of the world of Web 3 and
1:18.3	NFTs. Now learning about NFTs enhances financial literacy by virtue of introducing concepts such as blockchain technology,
1:28.0	decentralized finance, or defy, and digital assets.
1:32.2	Understanding these concepts is central to
1:35.1	understanding how to navigate both finance and technology.
1:39.6	NFTs can of course be highly speculative and volatile, but they do pose a potential for diversification
1:48.2	and profit if that is something that you choose to allocate a portion of your portfolio into and there are many
1:55.1	good reasons why you may or may not want to do that, but learning about NFTs and blockchain technology
2:02.4	and web 3 gives you, arms you with a solid bedrock of information
2:08.4	from which you can make an informed thoughtful decision. This is an emerging asset class with significant risk and it is also
2:17.2	a topic that has significant cultural and economic impact, including its impact on the way in which people invest in art.
	...

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