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– TIMESTAMPS –
0:00 Intro
1:47 What are NFTs?
5:05 Why do I think NFTs could be big?
6:51 NFTs & DeFi
12:57 Video games & NFTs
16:15 Blockchain art & NFTs
16:56 The hottest NFT asset right now
19:29 Final thoughts
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📺 Recommended Videos 📺
► Why do blockchain domains have insane potential? 👉 https://www.youtube.com/watch?v=TO3yqHQyc8E&t
► Kava: The DeFi token you need to know 👉 https://www.youtube.com/watch?v=I5iPTyfitZA&t
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Outlook report for NFT’s 2020: https://nonfungible.com/blog/nft-yearly-report-2019
► Tinlake: https://tinlake.centrifuge.io
► RocketNFT: https://twitter.com/rocketnft?lang=en
► Non-fungible token marketcaps: https://nonfungible.com/market/history
► Most expensive domain names: https://nonfungible.com/market/history
► Blockchain domains are selling for a fortune: https://www.coindesk.com/600k-ethereum-name-thriving-auction-market-underway
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📝 Overview 📝
It’s no secret that the DeFi space has been on a tear recently. However, that got me thinking… What will be the next hot crypto sector after DeFi?
After pontificating about this for some time, I reckon that NFT’s will be the one of the next biggest sectors in crypto. I explain my reasons why in this video.
❓ What Are NFTs ❓
Non-fungible tokens, or NFTs for short, are essentially digital collectibles. These cryptographic tokens represent something unique and have these four properties:
► They cannot be replicated.
► They cannot be counterfeited.
► You can’t print them on demand.
► They have the same ownership right and permanence guarantees as Bitcoin. However, the collectible can be personalized and unique.
The classic example of an NFT is a crypto Kitty. However, there are two main NFT token standards right now. The first is ERC-721 which are straight up non-fungible tokens like crypto kitties and the second are ERC-1155 tokens, which combine the benefits of both non-fungible and fungible tokens together.
ERC-1155 tokens are particularly interesting for computer games. Mythical weapons on Fortnite are unique and can be issued as NFTs. However, the game has an in-game currency called bucks, which are perfectly interchangeable. This is why game developers kinda need both fungible and non-fungible tokens and ERC-1155 allows them to do that!
🤑 NFTs & DeFi 🤑
The NFT market is projected to hit $315 million in 2020. That’s a 50% increase versus last year. This is pretty solid, however, the DeFi market has already had a six times increase this year and stands at around $4 billion in value.
That huge growth in DeFi is thanks to providing three core services:
► Issuing collateralized loans
► Earning interest
► Decentralized trading
💸 NFTs Can Supercharge DeFi 💸
Yes, DeFi has grown a lot. However, it is basically contained to the current crypto ecosystem. DeFi loans are after all secured by cryptocurrency.
I think that the natural progression of all this is being able to lend against real-world assets. That’s damn exciting because it can open up DeFi to a completely new type of audience and fuel further growth.
There is one platform doing that right now and that would be Tinlake. They are also using NFTs to make that happen. Be sure to watch the video to learn more!
🖥️ Gaming 🖥️
If you look at nonfungible.com you’ll see that 7 of the top 10 NFT projects are games. The exciting thing about that is that we only need one blockchain game to pop and we could see millions of new people enter crypto. If that comes to pass NFTs are set to play a key role.
🖼️ Art 🖼️
Blockchain art has surprisingly begun to take off this year. Artwork is basically represented by NFTs and that allows artists to release limited-edition artwork tracked on the blockchain, making it rare and collectable.
💰 Blockchain Domains 💰
Watch the video to find out why I think blockchain domains could be the most profitable NFT asset out there.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#crypto #nft #ethereum #defi #collectibles #gaming #eth
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