NFT 102 - Valkyrie

Nate Larrivee from Valkyrie discusses the breakout asset class of the year- NFTs.

He discusses the non-fungible token’s different use case than an asset like Bitcoin.

2021 was the year NFTs became a multi billion dollar industry. At the surface, NFTs appear to be highly speculative with social media hype, crazy volatility, and many failed products, but it is an entirely new order of commerce.

Larrivee goes on to explain the basics of NFTs, and some examples such as video game skins or shields, or a share of a stock, profile pictures on social media, land in the metaverse, the list goes on.

He explains that each one of these assets is verifiably rare in supply, portable, and programmable on the blockchain, and goes on to break these points down into digestible ideas.

Larrivee shares the opportunities of NFTs, and that the internet is missing ways to verify identity, ownership, and authenticity of assets, the exact thing that makes it possible for creators to get paid for their work.

He goes on to explain how the idea of NFTs has shifted from the technical realm to more common, everyday life. A restaurant in New York sells their cocktail recipes as NFTs, NBA fans can buy NFTs of their favorite players.. The possibilities are endless.

Listen to the full episode for more!

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