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Recode Daily

The Amazon for NFTs

Recode Daily

Recode

Science, Technology, Society & Culture

4.61.3K Ratings

🗓️ 11 February 2022

⏱️ 16 minutes

🧾️ Download transcript

Summary

NFTs (non-fungible tokens) have been gaining mainstream attention lately, but the big business of buying and selling them largely rests on the shoulders of one multibillion-dollar company, OpenSea. So how did OpenSea get into this position, and how well is it navigating these uncharted waters? Verge reporter Russell Brandom stopped by to give us the lowdown on the NFT marketplace. Russell Brandom’s article: - - https://www.theverge.com/2022/2/2/22914081/open-sea-nft-marketplace-web3-fundraising-finzer-a16z Today’s episode was produced by Jon Ehrens, engineered by Paul Robert Mounsey and hosted by Adam Clark Estes. Support Recode Daily by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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0:36.2

It's Rico Daily. I'm Adam Clark Estus.

0:42.2

Recently, on the tonight show, Jimmy Fallon and Paris Hilton talked about board

0:46.8

ape NFTs. And it felt like a real moment. Last time you were on the show, I asked

0:52.1

you to explain NFTs. And you did so in a great way, which is a very hard thing to

0:58.6

really explain to a lot of people. But yeah, I jumped in. I know. I heard. I'm so happy

1:03.8

I taught you what they were. You did. You taught me what's up and then I bought an ape.

1:07.8

I got an ape too. It's been a big year for NFTs so far. First of all, there's been

1:12.6

a dramatic rise in sales of these one-subscured digital assets. It feels like more and more

1:18.2

celebrities are just talking about NFTs. And one company called OpenC has emerged as the

1:24.6

go-to marketplace for all NFT transactions. But with this big increase in business and

1:31.4

in money involved, come some growing pains that have fallen on some unsuspecting consumers.

1:39.8

Russell Brandham, policy editor at The Verge, has been covering the rise of OpenC and

1:44.3

joins us today. Hey, Russell.

1:46.8

Yeah, thanks for having me.

1:48.1

So it seems like last year was a big one for NFTs. But lately, it seems like this year

...

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