J. Money Brings Sexy Back to Your Greenbacks

Motley Fool Answers

The Motley Fool

Taxes, Saving, Money, Investing, Planning, Retirement, Personalfinance, Finance, Education, Business

4.4 • 823 Ratings

🗓️ 23 March 2021

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

The founder of Budgetsaresexy.com tells the tale of how he became a successful financial blogger (and millionaire), and also discusses his latest project, AllStarMoney.com. And Alison provides the ABCs of NFTs.

Transcript

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0:00.0	This is Motleyful Answers. I'm Alison Southwick, and I'm joined as always by Robert.
0:10.5	Gosh, I forgot to think of something to call you ahead of time. Brocamp, personal finance expert here at the Motley Fool. Hello, bro.
0:17.6	Well, hello. I think that's as good as any, actually. That was very dramatic. Thank you very much.
0:21.8	Yeah, great. Well, in this week's episode, we're joined by Jay Money. He's a founder of Budgets Are Sexy and All-Star Money,
0:27.7	and I try to make sense of non-fungible tokens. All that and more on this week's episode of Mollyful Answers.
0:35.2	So, Allison, what's ludicrous?
0:47.1	It's not that ludicrous. There's nothing that ludicrous about it. Okay.
0:54.0	Persuade me, actually, I think is the white word. Yes. Well, bro, if you're like me, when you first saw the acronym NFT show up in your tweets,
0:57.7	you got as far as not for, and then you realized you were quickly going down the wrong path and
1:04.8	trying to decipher it. NFT stands for non-fungible tokens. Now, from there, if you're like me, you thought it had something
1:12.7	to do with mushrooms, maybe Mario Brothers? I don't know. So then you read a paragraph of an article,
1:21.7	got bored or confused, and moved on with the knowledge that all of your assumptions were
1:26.4	wrong, but then you didn't actually
1:28.2	replace it with any real knowledge. Okay. And so that was fine until you started seeing NFT everywhere
1:34.5	and you realize that maybe you should learn what it means. And also you have a podcast taping
1:40.4	coming up. So here we are. And it's not that ludicrous, bro. Stay with me. All right.
1:46.4	Mitchell Clark wrote a delightful article on The Verge explaining NFTs. So I'm largely relying on that.
1:54.8	Also, Wired New York Times and a few other places. Let's go. All right. Non-fundable tokens are
2:00.6	essentially a way that you can claim
2:03.0	ownership of a digital thing. So think music, art, tweets. Yes, these are all reproducible,
2:12.1	but so is a postcard of the Mona Lisa. So non-fundible tokens exist on a blockchain, at this point, mostly
2:19.3	Ethereum, but others are getting on board. And there are online marketplaces like OpenC,
	...

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