SotN #38: The State of NFTs, with Andrew Steinwold (Past, Current, and Future)
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 17 March 2021
⏱️ 68 minutes
🧾️ Download transcript
Summary
Andrew Steinwold is a respected voice in the NFT space and is managing partner of Sfermion, an NFT-native investment firm.
We unpack the recent NFT boom and digest the innovation, successes, failures, and lessons in the space as we reflect and move forward.
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SotN #38: The State of NFTs, with Andrew Steinwold (Past, Current, and Future)
When Andrew was last on Bankless for 'The Bull Case for NFTs' in September 2020, the Nation was introduced to NFTs as an ocean of opportunity for democratizing value. The landscape for NFTs has changed drastically in the last 6 months, but Andrew's approach has remained generally similar.
Andrew updates us on his expectations on the future of NFTs in the context of the current boom. He addresses the notion of the 'NFT Bubble' and the blurred distinction between memes and value. We dive into Proof-of-Work vs. Proof-of-Stake and what makes for a genuine NFT – in terms of both content and distribution.
Through the trials of this cycle, we have found many NFT-specific insights and lessons. Andrew explores the successes and failures of experimentation in this space. We highlight Cryptopunks, which boasts an organic release, being the first of its kind, and mass community adoption.
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RESOURCES:
The Bull Case for NFTs
https://newsletter.banklesshq.com/p/the-bull-case-for-nfts-jake-burkhman
Andrew on Twitter
https://twitter.com/AndrewSteinwold?s=20
Zima Red - Andrew's Podcast
https://andrewsteinwold.substack.com/
Sfermion
https://www.sfermion.io/
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Transcript
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| 0:00.0 | Hey everyone, Bankless Nation, welcome to another episode of State of the Nation. |
| 0:18.2 | We are super excited to have you here on the docket today. |
| 0:22.0 | We are talking about the state of NFTs. |
| 0:24.9 | They've been everywhere lately. |
| 0:25.9 | They've been hyped lately. |
| 0:27.0 | They've made major newspaper publications, lately everyone is talking about NFTs and |
| 0:32.2 | we brought on Andrew Steinwald, who is going to give us the state of NFTs, Andrew's |
| 0:37.2 | a guy who predicted NFTs before they were a thing. |
| 0:40.7 | So we're going to dig into that, David, how are you doing today, man? |
| 0:44.1 | Absolutely fantastic. |
| 0:45.1 | Still trying to get my head wrapped around NFTs and I think the whole industry is. |
| 0:49.7 | We all are. |
| 0:50.7 | Because so much has changed in the past two to three months and a lot of bankless content |
| 0:54.7 | around NFTs lately has been going to the artist, going to the people that weren't about |
| 0:59.9 | crypto, that weren't about Ethereum, but discovered NFTs and they were like, wow, this is really |
| 1:04.7 | cool. |
| 1:05.7 | So we wanted to go to the artist and say, hey, why are NFTs cool? |
| 1:08.2 | What do what do NFTs mean to you? |
| 1:10.0 | Now this is the opposite. |
| 1:11.0 | We are going to the guy who was paying attention to NFTs before everyone else was, before |
| 1:16.2 | they were hyped up. |
| 1:17.2 | And so I would call him, he's at my personal expert on NFTs and so he was also one of our |
... |
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