Summary
From CryptoPunks to Bored Apes to original artwork and more, there has never been so much interest in them. Even big traditional art galleries are getting in on the action.
Felicity Hannah looks at the financial world of NFTs, non-fungible tokens. They have a boring, slightly odd sounding name but they are generating a lot of excitement. So what are they, why do people want them and what are the risks?
Are NFTs dangerous speculation or a new kind of asset?
Joining the discussion are Andrea Baronchelli, associate professor in Mathematics at City University of London, & lead on the Token economy at The Alan Turing Institute. and Genevieve Leveille, CEO and Co-Founder of the blockchain-based business AgriLedger.
The programme also hears from Bella and Jack who have bought NFTs. Frances Coppola. economist & Journalist, Sebastian Fahey, head of the NFT division at the auction house Sotheby’s & artist Waxbones.
Producer Smita Patel Editor Emma Rippon
Transcript
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| 0:00.0 | On a winter's night in 1974, a crime took place that would obsess the nation. |
| 0:07.0 | It was an extraordinary news story. |
| 0:09.0 | The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny, |
| 0:14.0 | mistaking her for his wife, then somehow just disappeared. |
| 0:18.0 | One of the great mysteries in English criminal history. We're still looking for Lucan. |
| 0:21.6 | It's honestly one of the most powerful stories of my lifetime. |
| 0:25.6 | I'm Alex von Tundselman. |
| 0:27.6 | This is The Lucan Obsession. |
| 0:28.6 | Listen on BBC Sounds. |
| 0:31.6 | BBC Sounds, music, radio, podcasts. |
| 0:36.6 | Welcome to the download of Moneybox Live, the program about your money. |
| 0:41.6 | Today we're talking about non-fungible tokens, better known as NFTs. |
| 0:46.8 | From crypto punks to board apes to original artwork and more, there has never been so much interest in them. |
| 0:53.7 | Even big traditional art galleries are |
| 0:55.7 | getting in on the action. But there are some concerns that it's risky, that it's a bubble, |
| 1:00.7 | and even that trading NFTs can help launder the proceeds of crime. So maybe you're |
| 1:06.1 | crypto-curious, or maybe you're worried that this is a fad that might lose people money. |
| 1:11.8 | Whatever you think, |
| 1:16.4 | we're going to unpick all the issues. But before we hear from some people who have NFTs, |
| 1:22.0 | let's take a few minutes to understand what they actually are. I'm joined today by Andrea Barron Kelly, Associate Professor in Mathematics at City University of London, and also the lead on token economy at the |
| 1:29.5 | Alan Turing Institute. I'm also joined by Jean-Viev Lavelle, CEO and co-founder of the |
| 1:35.0 | blockchain-based business Agrilegger. Panel, good afternoon. |
... |
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