Episode 80. The ABC's of NFTs: How To Invest in Crypto's Latest Trend

OUR HOSTS: 

Corinne Foxx - @corinnefoxx

Natalie McMillan - @nataliemcm and @shopnataliemcmillan 

What we're drinking: Gary Farrell Russian River Selection Chardonnay

TOPIC: 

Today, we’re talking all about NFTs, aka the cryptocurrency art market. Non-fungible tokens have been all over the news, mainly for being sold at insanely high prices, so we wanted to do a deep dive on what they are, how to go about purchasing one, and the pros and cons of this type of format. 

NFTs are a unique unit of data employing technology that allows digital content, like videos, songs and images to become logged and authenticated on cryptocurrency blockchains, primarily Ethereum. If all that sounds like a word jumble, check out episode 58, our pre-schooler’s guide to digital currency, to establish a base knowledge on cryptocurrency! Listen in as we explore the latest art trend and figure out how to get on board. 

In this episode, we discuss:

• The history of the NFT industry

• What does ‘fungible’ mean

• Factors to consider when picking a marketplace to buy and sell from

• What actually courts as an NFT

• How to use your NFT

• The environmental impact of NFTs and potential low-energy solutions

• Advice for investing

END OF THE SHOW: 

Corinne and Natalie introduce Hottie of the Week: Shawn Mendes 

WINE RATING:

Gary Farrell Russian River Selection Chardonnay = Shawn / Shawn

WRAP UP:

To wrap up the episode, we play Citizen’s Arrest. Corinne is ready to lock up the construction industry due to the incessant noise it produces. And as much as it pains her to say it, Nat has to arrest Rihanna for holding out on a new album. The world has gone downhill since Anti was released in 2016. Just sayin. 

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