What’s Next for NFTs?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 28 January 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this edition of the “Weekly Recap,” NLW looks at a number of stories from the non-fungible token (NFT) industry this week that suggest where the industry might be headed, including Doodles’ acquisition of an animation studio and Porsche’s contentious entrance into the space. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Yaroslav Kushta/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.3	The breakdown is produced and distributed by CoinDess.
0:20.4	What's going on, guys? It is Saturday, January 28th, and that means it's time for the
0:25.2	weekly recap. Before we dive in, however, one quick note. There are two ways to listen to the
0:30.4	breakdown. You can hear us on the Coin Desk podcast network, which comes out every afternoon,
0:34.4	and also features other great Coin Des desk shows, or you can listen on
0:37.5	the breakdown-only feed, which comes out a few hours later. Wherever you listen, if you are
0:41.6	enjoying the show, I would so appreciate it if you would take the time to leave a rating or a
0:45.5	review. It makes a huge difference for new people discovering the show. All right, guys, Saturday,
0:50.5	weekly recap time, and today we're actually going to do a bit of an NFT Newsday.
0:55.5	While, of course, we are in a broad-based bear market right now, NFTs are experiencing something
1:00.8	even different than that. For all intents and purposes, this is the first bear market they've
1:05.5	really gone through, unless you want to consider CryptoKitties the breakout. But I think for most
1:10.1	people, as we conceptualize
1:11.3	the NFT space now, it was something that was a phenomenon of the last bull run. Bear markets have
1:16.8	an incredibly important function for these new subcategories of crypto because they help determine,
1:22.8	one, who wants to stick around and keep building in that space, and two, based on that,
1:27.8	what really matters about it to that community.
1:29.9	Today, we're exploring what's next for NFTs, and we're looking at two possible answers
1:34.4	based on news from this week.
1:36.6	The first has to do with the idea of NFT communities expanding into other forms of entertainment.
	...

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