In this episode, Nick Saponoro interviews the CEO of Coin Genius and Bitcoin Origin leader, Jeremy Born. Nick asks about Jeremy's thoughts on non-fungible tokens or NFTs and how it’s moving forward.
Introducing a New Market System
Bitcoin allows the person to control their financing, and just like cryptocurrency or programmable money, NFTs are programmable assets but are not for one-for-one trades. It's not like bitcoin that you can trade one bitcoin to one bitcoin or one bitcoin to one hundred dollars.
NFTs can be in different amounts because they have no definite value. If someone finds value in that asset and perhaps wants to trade, then they can. The world is accustomed to digital things to have its value, which introduces a whole new economy. Once brands discover how NFTs work and how they can connect with their buyers, customers will move everything.
Art Meets Innovation
NFTs comes by like innovation. A person can program NFTs to whatever they want; it can be digital art or a music video and translate that art into assets. In this generation, everything can be virtual. Jeremy's goal is to create a concept that is unique but still connects to cryptocurrency.
Jeremy wants to produce quality over quantity when collecting moments and videos.
Nick and Jeremy both agreed that once art is scarce or rare, more people are inclined to invest in it. Investment in artists comes when an artist sells their artwork from 10 years ago for $200, and ten years later, after gaining so much popularity, the one who bought it can auction the art piece for $1,000,000.
Jeremy and his team are creating a safe space for people to explore and feel accustomed to a different system. Coin Genius welcomes anyone who is interested in learning more and aims to educate people and let them learn about the arts.