The Ledger, every show

“It's the first time that we have had property rights on the internet, right?”

“There's a similar inflection point from like July to August of this year, where we went from about three hundred fifty million to 3.4 billion dollars of transaction volume.”

“But I think new games and new developers who are more experimental and kind of want to figure out what's the business model incentive structure that works, they will eventually crack this and eventually build Sort of these open worlds that I think could be rea…”

“So I think in January, we did about eight million dollars of transaction volume. In February, we did ninety five million in transaction volume. And then in March, it was like one hundred and sixty million.”

“A lot of the people who have made the most money from NFTs are probably the people who are already made a lot of money from crypto, for example, right?”

“Now what we're seeing with Bored Ape Yacht Club, which is another NFT project that's similar to CryptoPunks, and that there's only 10,000 of these kind of rare apes, right, is that traditional brands are starting to build interesting things on top of Bored Ape…”

“I think there's a lot of, like, volatility up and down the technical stack, right? There's, like, underlying blockchains that are shifting around. There's, like, Wallet layers. There's just so many moving pieces that I could see, you know, some of those kind o…”

“Oftentimes projects will kind of come out of thin air and start trading on OpenSea without us ever having to go and do special integrations with them because it's all kind of built into the blockchain.”

“Digital art just really wasn't a market three years ago.”

“But I think to answer your question, a lot of the same problems that we have in the physical world will start to emerge as well.”

“So if you think about Instagram today, you're creating all of this interesting content, but much, most of the value is being captured by the platform itself, kind of due to how the business models work, right? Advertising based business models don't typically …”

“Tricky it is at the moment to buy and sell NFTs on something like Ethereum due to the high transaction costs.”

“So the first idea that we had was building this decentralized marketplace for sharing internet bandwidth. And that was the idea that we got into Y Combinator with”

“I think gaming is this really interesting natural fit for NFTs because people have been buying digital items online For quite some time now and spent, for example, billions of dollars buying virtual clothing and some, a game like Fortnite.”

“We had like six to seven people, right? When, even when things started taking off, we were really small.”

“I would say the two main ones are sort of customer support and relatedly trust and safety, so ensuring that people aren't selling fraudulent items, and then core platform.”

“And I had, I heard from the instructor that one of the, Students who had gone to the talk last year before everything was so crazy had basically, you know, started becoming a crypto artist and publishing her work and had paid off, you know, had made enough mon…”