How NFTs Are Revolutionizing How Creators Make Money - Ep.220

Jamie Burke, CEO of Outlier Ventures, and Mason Nystrom, a research analyst at Messari, discuss the NFT craze that has enveloped the crypto world over the past few weeks. In this episode, they talk about:

• their backgrounds, and how they became involved in crypto (1:19)
• the major catalysts -- specifically Beeple and NBA Top Shot -- that have brought NFTs into the mainstream (5:29)
• why NFTs are a “megatrend” and not just another ICO-like bubble (13:35)
• how to explain non-fungible tokens to normies (18:06)
• what someone is actually purchasing when they buy an NFT (24:46)
• the reasons behind NBA Top Shot's success and why it is so difficult to withdraw money from its platform (36:27)
• the best way to scale NFTs and why Ethereum, despite severe storage limitations, will most likely remain the most popular blockchain on which to mint NFTs (41:44)
• why the gaming, fashion, and music industries will be disrupted by NFTs (49:37)
• when the current subscription-based business model for content creators will transition to the ownership economy (55:10)
• the differences between the marketplaces and platforms that make up the NFT economy (57:06)
• whether NFT valuations will go to zero and the challenges of appraising digital art (1:03:39)
• their predictions for the market capitalization of NFTs by the end of 2021 (1:15:23)

Thank you to our sponsors! 

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Episode Links: 

Jamie Burke

• Twitter:
• • https://twitter.com/jamie247 
• Outlier Ventures:
• • https://twitter.com/OVioHQ 
• Content:
• • the open metaverse: https://outlierventures.io/research/the-open-metaverse-os/ 
  • 100xARt: https://art.art/blog/jamie-burke-and-100xart-a-true-story-of-the-rising-art-order 
  • podcast: https://outlierventures.io/podcasts/ 

Mason Nystrom

• Twitter: 
• • https://twitter.com/masonnystrom 
• Messari:
• • https://messari.io/ 
• Content:
• • NFTs as an investment strategy: https://twitter.com/masonnystrom/status/1310942572429312010 
  • evolution of content: https://twitter.com/masonnystrom/status/1361692703025729536 
  • psychology of crypto art collecting: https://twitter.com/masonnystrom/status/1365028848509870080 
  • the current state of NFTs: https://twitter.com/masonnystrom/status/1363283887691038720 

NFT Sales Mentioned

• Beeple: https://www.cnn.com/style/article/beeple-first-nft-artwork-at-auction-sale-buyer-intl-scli/index.html 
• Previous Unconfirmed interview with Beeple: https://unchainedpodcast.com/beeple-on-how-and-why-he-raked-in-3-5-million/
• Taco Bell: https://www.theverge.com/2021/3/8/22319868/taco-bell-nfts-gif-tacos-sell 
• 3LAU: https://edm.com/gear-tech/3lau-record-breaking-nft-sale 
• Jack Dorsey Tweet: https://v.cent.co/tweet/20 
• Kings of Leon album: https://www.maxim.com/entertainment/kings-of-leon-releases-album-in-nft 
• NBA Top Shot: https://www.actionnetwork.com/news/nba-top-shot-blockchain-nba-highlight-marketplace 

NFT Guides

• New York Times: https://www.nytimes.com/2021/02/22/business/nft-nba-top-shot-crypto.html?utm_source=morning_brew 
• DappRadar: https://dappradar.com/blog/what-are-non-fungible-tokens-nfts 
• Andrew Steinwold: https://andrewsteinwold.substack.com/p/-quick-overview-of-the-nft-ecosystem 
• Decrypt: https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain
• CoinDesk: https://www.coindesk.com/nfts-became-art-everything-nft 

Miscellaneous Links: 

• Chris Dixon blog: https://a16z.com/2021/02/27/nfts-and-a-thousand-true-fans/ 
• NFT market cap: https://nonfungible.com/market/history 
• Outlier Ventures decentralized accelerator program: https://outlierventures.io/base-camp/ 
• Top NFT marketplaces (DappRadar): https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain 
• Jesse Walden’s “Ownership Economy”: https://variant.mirror.xyz/T8kdtZRIgy_srXB5B06L8vBqFHYlEBcv6ae2zR6Y_eo 

Flow blockchain: https://www.onflow.org/primer

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