Season 1 Episode 3: Intro to NFTs

Kamilah and Nova discuss Web 3.0, cryptocurrency, NFTs (non-fungible tokens), and how the creative industry should be brought up to date and educated about this.

NFTs began as a “fad” in 2021 – and now that’s shifted tremendously.

Nova sees NFTs as an opportunity to liberate creatives and artists as it relates to financial stability.

Kamilah sees NFTs as creating an opportunity for greater access to the art – even if it’s not IRL (in real life).

What are NFTs

NFTs (non-fungible tokens) are something that can’t be exchanged for something similar (i.e. dollar to dollar, art to art, etc). It is on the blockchain – encrypted and coded, and part of a trackable, non-changeable proof of ownership.

Because art is universal, that’s why Nova thinks it’s a main starting point for NFTs. But they can be used for much more. Even real-world items – like a house – can be sold as an NFT.

Some NFT collections give access to parties, exclusive events, event tickets, and other exchanges. So they can carry over to the real world.

“NFTs are a way to activate your community.” – Kamilah.

An NFT can provide access, partial ownership, and many interactive possibilities.

Creatives and NFTs

Musicians can gain a lot of community-building access via NFTs.

Fans and followers in the past were less activated as a community. NFTs offer a way for artists and creatives to connect. That makes for more reward both ways.

This can help take the middleman out from between the creatives and their community.

There are many uses for NFTs that fashion designers can glean. They can create secondary streams of revenue.

Kamilah foresees this kind of technology being integrated into everything that we do. She thinks as the hype clears and people see more use cases, people will see it all more positively. That is a part of the goal of this podcast.

The Metaverse is a place where more creatives can find ways to sustain themselves.

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 Crypto

Crypto for Creatives

Web 3.0

Creatives

Community

NFTs

Non-fungible tokens

Blockchain

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