The Future of NFTs

In this episode of Magic Internet Money, host Brad Mills invites lead editor of BoxMining.com, Michael Gu onto the show to discuss the recent NFT boom. Brad warns it’s a “tulip style bubble”, but remarks it’s a technology that’s here to stay. Michael offers his experience working in the field of gaming as an example of the future of NFTs. The two discuss how the field of collectables and art sales could be changed by the adoption of NFT technology. Brad and Michael speculate on altcoins, the effects from macromarkets on crypto, and the philosophy of Bitcoin. They further speculate on the future of crypto asset based games and what a successful model for one might look like. Timestamps 00:00:43 - Show start 00:00:56 - The NFT bull market 00:04:59 - Ethereum’s relationship to NFT 00:08:40 - Game assets not a model for NFTs 00:13:08 - History between ETH and BTC 00:17:58 - Bitcoin maximalist philosophy 00:21:23 - Maximalism and motivations in life 00:24:12 - Risk among cryptocurrencies 00:31:50 - Risks for newcomers in the crypto space. “Degen pits”. 00:39:00 - Anti-altcoining and the debate around it 00:43:04 - Macro markets and their relation to Bitcoin 00:46:36 - Infinite Fleet and NFT video game assets 01:00:27 - The metaverse and the economic side to gaming 01:05:10 - The collectables market 01:12:03 - Crypto games and non-crypto games 01:15:06 - Recommendations about Bitcoin and NFT 01:20:14 - Closing remarks and outro