What is an NFT and Why Buy One?

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We’re Colin and Samir, creators based our of Los Angeles California. We make videos about the creator economy, and the lessons we’ve learned over 10 years of being on YouTube. We also interview creators and try and get to the bottom of what’s working on YouTube and where the creator economy is headed. We are currently working on building education with creators, if you want to learn more, subscribe to both of our channels and reach out on social!

Ask us a Question:

[amantahiliani]

Nobody can replicate the Mona Lisa. That digital art on the other can be replicated pixel for pixel. So the analogy doesn't really add up

[digitaldrugdetox]

Pretty interesting but still a bit of a weird concept

[mattwatkinsto]

I think the NFT's are a phenomenal idea for creators, artists etc...the only way I would ever purchase something like an NBATS would be if I had complete ownership and was paid a licensing fee every time it was used. Otherwise to me, it is a cash grab by the NBA.

[vzs]

So basically the only appeal of NFTs is to be able to resell them? Then why buy them in the first place? Why would I want "ownership" of a digital file without the copyright when anybody on the internet can just go ahead and grab that video for free, thus removing the uniqueness part?

[Homer_Jay]

GREAT VIDEO. Confirmed my thoughts on NFTs being complete bullshit. The market is all sellers trying to make a quick easy buck. There is not intrinsic value like most shitcoins. Man zoomers are hard-up to make money.

[Alexi]

But why would I go to someone's digital museum to see images that are freely available everywhere?

[rled]

NFTs really piss me off I still don’t understand why people are buying them for so much money.

[major]

What I feel about these things is if someone finds something (literally anything) valuable then it is valuable. 🤔

[Rotimiskills]

Jen did a great job explaining what NFTs means for creator/originators of content however, I think the bit she might of missed in re to NBATS specifically is that many view it primarily as an authentic collectible signed and licensed by the NBA. Samir, is right in saying the experience of owning the moment and viewing it on YouTube are the same but the point made about the Mona Lisa is important - viewership and ownership are not the same. NBA TS owners understand that they do not have complete ownership over a said ‘LBJ dunk’ clip however they do have a stamp/certificate of authenticity by NBA which enables them to trade/swap on the marketplace.

The real trick with NBA TS is that it mostly solved issues littered in the physical cards space, such as: authenticity, buyer/seller transparency, card maintenance & circulation, storage and a liquid market place.

Once again great video guys! Love that you are tapped in!

[ShauryaSinha]

This just opened up so many more questions - but still super grateful that you answered my first few!!

[brunonastico]

Benefits of owning an nft:
You own an nft
Your wallet is less heavy

[miamiwax]

I feel like the music industry is gonna go crazy with this

[JosueOfTheChi]

This is a perfect example of one question answered and now 10 more come up

[ASXInvestor]

The amount of knowledge that this channel gifts us on the daily is phenomenal -
Thank you Colin & Samir 🙏

[rled]

I think people have lost their minds on this one.

[pher]

This video made me buy ETH and learn about ETH. It wasn’t just about NFTs, I don’t own any NFTs, but the potential of Ethereum seemed obviously massive.

Changed my life

[josephjerez]

I'm not convinced NFT's are a scam to me. I'll screen record Lebron's dunk and save my money for a real investment

[CleanThatUp]

Very interesting, thanks for the info/breakdown. I have been seeing a ton hype about these.

[adriangilbert]

These people will come up with any concept to make money and put intellectual language behind it to make it seems like a great idea which it is for someone.

[scarletspidernz]

How do you stop clone/replication of the digital content and or the removal of the digital signature