NFT stands for non-fungible tokens.
Revolutionizing the World
It's the biggest technology that has ever happened in the history of life, outside of things like fire, and like the printing press is the one that I keep going back to, television, phone, fine.
Contemporary artists should really be looking at this technology, I think it it's a huge win for the artist financially and brand reputationally and for its early buyers.
Breaking Free from Traditional Art World Infrastructure
There was no option for them not to use the high market art world infrastructure, a gallery, an auction house. I believe this gives them options.
The Power of Smart Contracts
What people are talking about, art, you've covered the people auction, the $69 million sale and all that. But people are misunderstanding the smart contract and what it can do.
Beyond Collectibles and Art
These are smart contract visualization, right? Homes and leases, I can't imagine not every ticket being in an NFT in a decade.
The Digital Ownership Future
Every person that's watching this right now that is lucky enough to be alive in 15 years will own multiple things digitally.
The Evolution of Self-Expression
People are gonna fixate that it's just on collectibles and art but it's a platform. Everyone's gonna say it, that you're just saving a JPEG. Just like people fixated that social media was just for kids.
Social Currency and Digital Expression
Social currency, it's why Mercedes and Nike matter. It's also how you express yourself. Everybody I'm looking at right now, behind the camera is literally wearing the clothes they're wearing as a subconscious way to communicate to the world. Everything we do is to communicate with each other.
Living in the Metaverse Now
As we inherently live more digital, forget about the metaverse, ready player one, we live in the metaverse now. People are in their screens constantly.
The Emergence of the Public Wallet
I already know, sitting here in 2021, that the public wallet with all your NFTs in it will become the next social media. That when Jason hit my radar, are we gonna hire this guy? Just like we looked at his Wikipedia, if he had one, LinkedIn if he had one, Instagram if he had one, but in 2027, I'm gonna look at his wallet and I believe what's in his wallet is a much better indication of who he is than what pictures he decided to PR to the world.
The Upcoming NFT Winter
This next six to 12 months, greed will take over. Everybody will put out NFTs. People will buy, trade, sell, steal, rip off, try to trick you and do the wallet. There'll be so much happening, it will collapse. There is an absolute guaranteed NFT winter coming. 98% of the projects will go to zero, but it doesn't mean the NFT space is going to zero. It means is that the craze of the gold rush, just like internet stock in '99, will get people to make bad short-term decisions. That's gonna create a lot of headlines in 2023, 2024, that NFTs were a fad. NFTs were [censored], but then just like 2004 and five, with the internet, when everybody made fun of people who lost money on internet stocks, the internet rose like a Phoenix and ate up our world. I am completely convinced that's gonna happen in NFT world. A lot of you right now saying you're never gonna own one and all of you will, so do with that what you want.
