NFTs in 5 simple steps

Disruptors

Rob Moore

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

4.8 • 1.4K Ratings

🗓️ 11 February 2022

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's easy to find the world of NFT's confusing; what are they, how do they work are they a scam? Listen in to this episode to learn the ABC’s of NFTs, where Rob gives the lowdown on the tech, asset, art, attributes and the utility of NFTs. robmoore.com/nft KEY TAKEAWAYS The Tech Behind NFTs: What is it used for, where is it hosted, what is the purpose of it? Blockchain is the main tech, it’s essentially an online ledger. There are also platforms that allow you to ‘mint’ an NFT. NFT Assets: The early NFTs were essentially just digital art. Supply –vs- demand, scarcity and the story is what creates the value. The Art Behind NFTs: A good NFT is something unique. Attributes of NFTs: The more unique the NFT attributes, the more valuable it usually is. Utility of NFTs: If you want to invest in an NFT, it's important to look at the utility of it, then if anything changes it will still be of value to you. BEST MOMENTS “It could be used for so many things, think about when the internet started, it was used to send electronic mail” “This is the point of disruptive technology; disruptive technology always has resistance” “The main reason art is valuable is because of the story we tell about it” [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	the ABCs and Ds and E's of NFTs.
0:05.0	Hi, it's Rob Moher, and I wanted to share with you NFTs in five simple steps.
0:10.1	The ABCs of NFTs, because I know people get really confused about NFTs.
0:17.6	I think some people are worried that NFTs are a bit of a scam, and I think in reality,
0:23.9	people just don't understand, and what they don't understand, they often cite as a scam.
0:31.5	So anything could be a scam if you are scammy. Anything can be a gift if you are a giver.
0:44.0	So I'm going to share with you NFTs in five simple steps. We're going to cover the tech.
0:52.7	We're going to cover the asset. We're going to cover the art. We're going to cover the attributes,
0:59.6	and we're going to cover the utility. Let me say that again. The tech, the asset, the art,
1:06.1	the attribute, and the utility. Now, a couple of things about the market evolution of NFTs before I
1:14.6	detail the five simple steps. Number one is, NFTs are a very new market. And in any new market,
1:21.2	you get opportunity, and you get schemes and scams and snake oilers, because any new market
1:30.8	starts unregulated. And over time, it becomes regulated as there's more understanding of it.
1:40.4	And the market gets a chance to equilibrate, if that's even a word. So some people are going to
1:50.0	create great value and great tech around NFTs, and they're going to have great utility,
1:56.1	and they're going to be very useful. Other people are going to pump and dump and sell
2:01.2	JPEGs for hundreds of thousands, and they're ultimately going to become worth nothing.
2:07.7	But one thing I want to say in defense of the NFT industry is, it doesn't know what it is yet.
2:16.0	And we don't know what it is yet. So it's been used for art, it's been used for a ticket,
2:24.8	it's been used for access, it could be used for so many things. You know, if you think about when
2:32.6	the internet started, the internet was used to send electronic mail. I just read recently,
2:41.5	the IRS were going to look at using facial recognition for tax revenue. So the internet started
	...

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