WEBVTT - Are NFTs worth anything beyond speculation and hype?

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<v Speaker 1>This is a C N A podcast,

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<v Speaker 1>real Art or N F T S as an investment

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<v Speaker 2>personally. Yeah. Real art.

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<v Speaker 1>Top three factors to consider when buying an NF

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<v Speaker 2>T, does it have a use case in the world?

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<v Speaker 2>Why am I buying this N F T? Does it

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<v Speaker 2>have intrinsic value to me? In which case? That's a

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<v Speaker 2>personal choice? And what Blockchain is it on? Is it

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<v Speaker 2>something that is easily transferable, easily re sellable

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<v Speaker 1>N F T s by now or never?

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<v Speaker 2>If you want to get into the space, I would

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<v Speaker 2>never say never maybe now.

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<v Speaker 1>Good to have you with me on money talks. I'm

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<v Speaker 1>Andrea Hang now N F T s or non fungible tokens.

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<v Speaker 1>They broke into the mainstream news narrative in 2021 with

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<v Speaker 1>their eye watering price tags. Jack Dorsey, founder of Twitter

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<v Speaker 1>sold his first ever tweet as an N F T

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<v Speaker 1>for $2.9 million.

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<v Speaker 1>Digital artist. People sold an N F T of his

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<v Speaker 1>work for $69 million. Virtually anything digital can be converted

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<v Speaker 1>and sold as an N F T video clips, audio

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<v Speaker 1>wave files, game Avatars art. Even memes, maybe it's time

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<v Speaker 1>for me to rethink my career. But what makes an

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<v Speaker 1>N F T V

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<v Speaker 1>valuable or seen as a collectible after all digital files

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<v Speaker 1>can be easily an endlessly duplicated, right? Think of N

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<v Speaker 1>F T S as a one of a kind digital asset.

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<v Speaker 1>The digital file is tokenized to create a digital certificate

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<v Speaker 1>of ownership, kind of like a C O E that

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<v Speaker 1>it can be bought and then sold again. And that

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<v Speaker 1>ownership record is stored on a shared ledger known as

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<v Speaker 1>a Blockchain.

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<v Speaker 1>So are you simply buying bragging rights when you're buying

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<v Speaker 1>an N F T beyond the hype and headline making

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<v Speaker 1>prices are N F T s and investment asset worth

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<v Speaker 1>looking at to help us compute this return to Sanya

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<v Speaker 1>Blockchain insights lead for momentum works. Hey, Sanya, well,

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<v Speaker 1>it's

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<v Speaker 2>so nice to be here

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<v Speaker 1>with you. Good to have you with us in person to. Okay.

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<v Speaker 1>So if you had to explain N F T to

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<v Speaker 1>a complete newbie, how would you do it?

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<v Speaker 2>Right. So first I would say let's break down the

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<v Speaker 2>three words. So it's a non fungible token.

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<v Speaker 2>So non fungible, more or less means that it's unique.

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<v Speaker 2>So when we talk about crypto and Blockchain, you can

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<v Speaker 2>trade if I have one ether or one Ethereum, I

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<v Speaker 2>can trade that for another one and I have the

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<v Speaker 2>exact same thing and

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<v Speaker 1>an ether and Ethereum is a currency.

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<v Speaker 2>It's a Cryptocurrency. So it's like having $12 note or

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<v Speaker 2>one ether. You trade it for another $2 note or

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<v Speaker 2>another ether. That's fungible. You can have the exact same thing,

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<v Speaker 2>but with an N F T it's non fungible, it's

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<v Speaker 2>completely unique. And so it's really just this unique asset

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<v Speaker 2>that is stored on the Blockchain.

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<v Speaker 1>Okay. Have you bought an N F D? Do you have,

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<v Speaker 1>how many,

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<v Speaker 2>maybe too many to count? Now,

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<v Speaker 1>what do you mean too many? I

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<v Speaker 2>have a lot of N F T s mainly

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<v Speaker 2>because when I was getting into the space, I think

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<v Speaker 2>the only real way to fully understand it is to

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<v Speaker 2>dive in with.

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<v Speaker 1>Of course, of course. Um And are the N F

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<v Speaker 1>T s that you bought mainly art or what kind

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<v Speaker 1>of mess did you

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<v Speaker 2>get? I've bought N F T s that are art.

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<v Speaker 2>I've bought an N F T that supports the production

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<v Speaker 2>of a movie.

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<v Speaker 2>So as that movie goes into production and if it

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<v Speaker 2>earns money, I get some of that royalty back

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<v Speaker 1>to myself. Okay. Okay. So anything digital, including this podcast

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<v Speaker 1>as an audio wave file, it can in theory be

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<v Speaker 1>tokenized and then sold it as an N F T,

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<v Speaker 2>right? Would you like me to make this an N

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<v Speaker 2>F T? I can do that?

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<v Speaker 1>Fabulous. I think my producer wants to buy it. Maybe not,

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<v Speaker 1>depends on how much it's gonna cost, I guess. Okay.

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<v Speaker 1>So the,

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<v Speaker 1>the N F T market said to be worth $22

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<v Speaker 1>billion in 2021. It blows my mind. So who is

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<v Speaker 1>buying up all these N F T s? Are they

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<v Speaker 1>art collectors, investors speculators or just like fans of memes?

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<v Speaker 2>Right? So I think when we're talking about N F

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<v Speaker 2>T s in this case, it's, it's one specific use case.

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<v Speaker 2>So it's looking at the art or the collectible aspect

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<v Speaker 2>of N F T s.

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<v Speaker 2>The N F T itself is the underlying technology. It's

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<v Speaker 2>not the PEC itself. And so I think when we're

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<v Speaker 2>talking about art and collectible N F T s, yes,

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<v Speaker 2>it probably is. People who are fans of those concepts

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<v Speaker 2>outside of the fact that they're N F T s.

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<v Speaker 2>So for example, with NBA top shot, you'll have a

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<v Speaker 2>lot of basketball fans buying those N F T s

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<v Speaker 2>or with Nike N F T s, you'll have a

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<v Speaker 2>lot of fans of Nike buying the Nike N F

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<v Speaker 2>T s

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<v Speaker 2>and so beyond the art and collectible, it's, it's the

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<v Speaker 2>same thing as any fan memorabilia when we're looking at

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<v Speaker 2>that one use case. So

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<v Speaker 1>kind of like collecting those cards, right? Those Pokemon cards.

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<v Speaker 1>It's

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<v Speaker 2>exactly like Pokemon cards. Anyone can buy one until you

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<v Speaker 2>get into the really rare stuff. And then yes, it becomes,

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<v Speaker 2>it becomes very pricey

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<v Speaker 1>when you say it's worth this much. Half people paid

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<v Speaker 1>actual money for these N F T So we said

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<v Speaker 1>earlier that the N F T market's worth 22 billion

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<v Speaker 1>as far as 2021 goes, are people paying actual money?

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<v Speaker 1>So did Jack Dorsey actually get paid 2.9 million U

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<v Speaker 1>S dollars for his first tweet as an N F T? Well,

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<v Speaker 2>so he probably got paid in

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<v Speaker 2>Ethereum is my guess. And then he went and transferred

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<v Speaker 2>that Ethereum to a fiat currency like us

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<v Speaker 1>dollars. The only way to transact an N F T

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<v Speaker 1>is through a Cryptocurrency. For

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<v Speaker 2>the most part, there are some online N F T

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<v Speaker 2>marketplace is that let you transact with your credit card

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<v Speaker 2>and they take care of that conversion into Cryptocurrency and

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<v Speaker 2>their back end and you never see it, but you

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<v Speaker 2>can pay with your own currency. Here's

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<v Speaker 1>something I'm struggling with

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<v Speaker 1>why N F T s are even worth money. Like

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<v Speaker 1>what's their intrinsic value? Because digital files are so easily replicated, duplicated.

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<v Speaker 1>I mean, it's just right click on the mouth duplicate

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<v Speaker 1>and it's there like another copy is there doesn't really

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<v Speaker 1>matter if you have a certificate

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<v Speaker 1>that you're the rightful owner of this piece of work.

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<v Speaker 1>It just sounds like bragging rights to me. And how

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<v Speaker 1>is that worth any money? Sure.

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<v Speaker 2>Let me break that down into two parts. So I

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<v Speaker 2>think with N F T S it comes down to

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<v Speaker 2>perceived value. So if I'm a little bit more reductive

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<v Speaker 2>about it, how is a banknote worth anything, right? It's

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<v Speaker 2>worth it because people believe that it's worth it, then

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<v Speaker 2>it has the other layer of being backed by the government.

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<v Speaker 2>So there's trust.

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<v Speaker 2>So that's one aspect of it. If there are enough

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<v Speaker 2>people that believe that there's value, there's value. And then

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<v Speaker 2>there's also the problem that comes with that. If it's

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<v Speaker 2>not backed by a trusted authority, the value changes dramatically,

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<v Speaker 2>it's very volatile. And then the second part of that answer,

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<v Speaker 2>I guess I would say

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<v Speaker 2>is that, have you ever bought one of those prints of, say,

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<v Speaker 2>a Monet painting or a van Gogh painting? I

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<v Speaker 1>mean, postcards at the art gallery. Exactly. So

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<v Speaker 2>millions of people have those, right. The same way millions

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<v Speaker 2>of people can right, click on your N F T

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<v Speaker 2>and download the JPEG, but only one person has that

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<v Speaker 2>Monet hanging in their house or that van Gogh hanging

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<v Speaker 2>in their house. And

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<v Speaker 2>I could tell you that I do, but you'd never

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<v Speaker 2>know if I was telling the truth or not. With

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<v Speaker 2>an N F T, I can show you that I

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<v Speaker 2>really do own

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<v Speaker 1>that. Yeah. Exactly. And I think that's the thing that

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<v Speaker 1>I'm struggling with because it's, it's not a physical item

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<v Speaker 1>that I own. Right. And while I'm also not paying

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<v Speaker 1>it physical money per se in the currency that we

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<v Speaker 1>all know,

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<v Speaker 1>it's the fact that I'm doing everything digitally and it's

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<v Speaker 1>not tangible. And I think some people struggle with that.

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<v Speaker 1>I

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<v Speaker 2>agree. And you know, I think that comes down to

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<v Speaker 2>why N F T s were created in the first place.

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<v Speaker 2>We're increasingly living more of our lives in the digital

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<v Speaker 2>space and say, let's take a very real life example.

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<v Speaker 2>I have a picture of myself that I posted on Instagram.

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<v Speaker 2>Anyone can view that picture, but it's not mine per se.

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<v Speaker 2>It's a copy that exists on Instagram servers.

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<v Speaker 2>So if I actually wanted to own that picture and

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<v Speaker 2>have a way to prove that it's my picture and

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<v Speaker 2>fts can come in to solve that problem.

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<v Speaker 1>Okay. Okay. That's one way of looking at it because

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<v Speaker 1>I take a lot of nice photos on Instagram and

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<v Speaker 1>I don't own them. No. Okay. So game developers, they've

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<v Speaker 1>also hopped onto the bandwagon. They're developing in game items

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<v Speaker 1>and avatars and they're selling them or marketing them as

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<v Speaker 1>N F T s that can be bought and sold

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<v Speaker 1>and then used within the game sphere

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<v Speaker 1>only. So I see the value in that as an

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<v Speaker 1>asset but things like tweets memes that blows my mind

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<v Speaker 1>memes or a picture of a board monkey. I mean,

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<v Speaker 1>that doesn't seem very valuable to me, to me. I understand.

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<v Speaker 1>So how should investors then decide on which an F

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<v Speaker 1>T to invest in? What makes it investable? I

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<v Speaker 2>guess when it comes to investment, I think the rule

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<v Speaker 2>of thumb is only to invest in things that you

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<v Speaker 2>fully understand,

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<v Speaker 2>otherwise I would call it more speculation than investment. And

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<v Speaker 2>that's where N F T s can be seen. I

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<v Speaker 2>think more as a speculative asset. You can even say

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<v Speaker 2>it's akin to buying a lottery ticket. It's, you're hoping

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<v Speaker 2>that you win something, you're hoping that it increases in value.

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<v Speaker 2>So I'm not totally sure that in that case, we

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<v Speaker 2>can call it an investment when you invest in the

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<v Speaker 2>use cases of N F T s that can provide

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<v Speaker 2>real world tangible value and companies that are developing that technology,

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<v Speaker 2>that's an investment I would say. But I think the

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<v Speaker 2>advice to everyone is to just only really invest in things.

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<v Speaker 2>You fully understand. What is

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<v Speaker 1>it that I need to understand? If I'm investing in

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<v Speaker 1>an N F T,

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<v Speaker 2>it can be very volatile because there's no real trust

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<v Speaker 2>backed entity there. When you're talking about a picture of

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<v Speaker 2>a board, a por something something very interesting that have

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<v Speaker 2>been happening in this fear actually is that

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<v Speaker 2>the sec in the United States actually has set some

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<v Speaker 2>sort of precedent saying that N F T s can

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<v Speaker 2>be considered securities because you're depending on the company that

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<v Speaker 2>produces the N F T doing well to give value

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<v Speaker 2>to your portfolio. So I think you're really having to

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<v Speaker 2>deep dive and understand what is the mission of that

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<v Speaker 2>with people who buy N F T S. It's a

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<v Speaker 2>reflection on them,

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<v Speaker 2>they buy them for avatars, they buy them to showcase

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<v Speaker 2>aspects of their personality when they're living their digital life.

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<v Speaker 2>And so I think if that's the value to you,

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<v Speaker 2>then it's an investment in your eyes. But not all

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<v Speaker 2>N F T s are created equal. The technology can

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<v Speaker 2>get very mumbo jumbo. If you really understand the risk

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<v Speaker 2>that you're willing to take, then it's like any other investment. Yeah,

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<v Speaker 1>I heard of an artist who gave the audience at

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<v Speaker 1>a show the choice to buy the N F T

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<v Speaker 1>of his artwork

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<v Speaker 1>and his artwork. So people who bought the N F

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<v Speaker 1>T s okay. They ran along, they had their N

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<v Speaker 1>F T s and then the one that decided to

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<v Speaker 1>buy the artwork were basically left hanging because the artist

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<v Speaker 1>decided to go burn the original artwork. I mean, this

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<v Speaker 1>made headlines back in the days. What are your thoughts

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<v Speaker 1>on that? So

0:11:03.455 --> 0:11:06.645
<v Speaker 2>that momentum works. We actually used that exact example in

0:11:06.645 --> 0:11:08.365
<v Speaker 2>our first three report.

0:11:08.580 --> 0:11:11.670
<v Speaker 2>And I've had people make the argument to me that

0:11:11.679 --> 0:11:13.530
<v Speaker 2>the same way you can lose a piece of paper,

0:11:13.530 --> 0:11:18.490
<v Speaker 2>you can forget your password and then the same issue, right?

0:11:18.490 --> 0:11:20.950
<v Speaker 2>You've lost the N F T. But that's actually the

0:11:20.950 --> 0:11:24.099
<v Speaker 2>argument that I would make back in that case because

0:11:24.110 --> 0:11:27.130
<v Speaker 2>that's exactly right. A flood can damage a piece of paper,

0:11:27.140 --> 0:11:29.580
<v Speaker 2>you can burn it, you can rip it up. There's

0:11:29.580 --> 0:11:33.210
<v Speaker 2>a little bit more security when it's on the Blockchain

0:11:33.210 --> 0:11:33.810
<v Speaker 2>because

0:11:33.970 --> 0:11:37.260
<v Speaker 2>it's something that you can prove at any time belongs

0:11:37.260 --> 0:11:40.240
<v Speaker 2>to you. Everybody can see it on a public Blockchain.

0:11:40.240 --> 0:11:42.070
<v Speaker 2>You're not the only person who can see that at

0:11:42.070 --> 0:11:43.050
<v Speaker 2>any given time.

0:11:47.820 --> 0:11:51.000
<v Speaker 1>Hello, everyone. My name is Christina and I'm Adrienne and

0:11:51.000 --> 0:11:53.390
<v Speaker 1>we're the host of a podcast called work it if

0:11:53.390 --> 0:11:55.370
<v Speaker 1>you never heard of it. Well, it's a good time

0:11:55.370 --> 0:11:58.180
<v Speaker 1>to tap in, in the last 20 episodes. We've discussed

0:11:58.179 --> 0:12:01.370
<v Speaker 1>topics like how to negotiate for a salary increase or

0:12:01.370 --> 0:12:03.990
<v Speaker 1>how to get along with younger colleagues who have different

0:12:03.990 --> 0:12:05.160
<v Speaker 1>values from you, which

0:12:05.170 --> 0:12:08.900
<v Speaker 1>incidentally is our top performing episode. If what consumes your

0:12:08.900 --> 0:12:12.610
<v Speaker 1>life and you want some perspective on issues like management stress,

0:12:12.620 --> 0:12:16.370
<v Speaker 1>even office romance. This podcast should be on your list.

0:12:16.380 --> 0:12:19.380
<v Speaker 1>A new episode drops every Monday. Catch us on the

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<v Speaker 1>Sienna app or wherever you get your podcast

0:12:27.100 --> 0:12:29.860
<v Speaker 1>looking at the landscape. Now, are there some N F

0:12:29.860 --> 0:12:32.929
<v Speaker 1>T s that are, I guess safer for the lack

0:12:32.929 --> 0:12:36.189
<v Speaker 1>of a better word than others? Like some are less

0:12:36.190 --> 0:12:39.080
<v Speaker 1>speculative than others? Just out of curiosity? You

0:12:39.080 --> 0:12:40.440
<v Speaker 2>know, that's a good question.

0:12:40.760 --> 0:12:42.770
<v Speaker 2>I think the N F T s that are less

0:12:42.770 --> 0:12:47.069
<v Speaker 2>speculative are the ones that have utility so you can

0:12:47.070 --> 0:12:50.400
<v Speaker 2>buy N F T s. Beyond just buying them to collect,

0:12:50.400 --> 0:12:53.689
<v Speaker 2>you can buy them as tickets to concerts, you can

0:12:53.690 --> 0:12:56.910
<v Speaker 2>buy them to watch a TV show. There's a TV

0:12:56.910 --> 0:12:59.420
<v Speaker 2>show out there that I think stars Mila Kunis that

0:12:59.429 --> 0:13:01.280
<v Speaker 2>you need to buy an N F T to be

0:13:01.280 --> 0:13:04.700
<v Speaker 2>able to watch and so they can serve as verification

0:13:04.700 --> 0:13:05.470
<v Speaker 2>in that sense or

0:13:05.526 --> 0:13:07.226
<v Speaker 2>they can serve as a ticket to a

0:13:07.226 --> 0:13:10.346
<v Speaker 1>concert. Alright. Okay. Should I only go for N F

0:13:10.346 --> 0:13:13.466
<v Speaker 1>T s that are backed by a bank or a

0:13:13.466 --> 0:13:15.445
<v Speaker 1>known institution? I'll throw a

0:13:15.446 --> 0:13:19.176
<v Speaker 2>question back at you. Should you only buy stocks and

0:13:19.176 --> 0:13:22.925
<v Speaker 2>bonds that are backed by, you know, trusted entities? I

0:13:22.926 --> 0:13:25.366
<v Speaker 2>would say yes. Yeah, I think people should answer both

0:13:25.366 --> 0:13:27.886
<v Speaker 2>of those questions in similar ways. Okay.

0:13:27.896 --> 0:13:30.276
<v Speaker 1>That's a good way of putting it. So the NFC market,

0:13:30.292 --> 0:13:33.712
<v Speaker 1>It's exciting for investors because you know, there's a lot

0:13:33.712 --> 0:13:37.582
<v Speaker 1>of amazing growth potential, at least that's what's been reported, right?

0:13:37.582 --> 0:13:42.502
<v Speaker 1>So some reports estimate a compound annual growth rate of 35%

0:13:42.511 --> 0:13:46.582
<v Speaker 1>per year. That's huge compared to other investment classes such

0:13:46.582 --> 0:13:50.862
<v Speaker 1>as stocks or property. Obviously, given the caveats that we've

0:13:50.862 --> 0:13:53.722
<v Speaker 1>been talking about when it comes to NFTS as an investment.

0:13:53.732 --> 0:13:55.060
<v Speaker 1>Do you think though

0:13:55.210 --> 0:13:57.349
<v Speaker 1>that we can still consider N F T s as

0:13:57.350 --> 0:14:01.920
<v Speaker 1>part of an average investorsportfolios something my husband would call

0:14:01.929 --> 0:14:02.970
<v Speaker 1>play money.

0:14:03.520 --> 0:14:06.550
<v Speaker 1>Is it worth looking into to put it in my portfolio?

0:14:06.559 --> 0:14:09.839
<v Speaker 2>You know, digital assets in general are in their early days.

0:14:09.850 --> 0:14:13.060
<v Speaker 2>Will there be more digital assets moving forward? How do

0:14:13.059 --> 0:14:15.880
<v Speaker 2>we link physical value to these digital assets? These are

0:14:15.880 --> 0:14:19.790
<v Speaker 2>all questions and proving ownership of those digital assets has

0:14:19.790 --> 0:14:21.790
<v Speaker 2>been a challenge and we really do believe there's a

0:14:21.790 --> 0:14:22.780
<v Speaker 2>future for N F T s,

0:14:23.020 --> 0:14:25.030
<v Speaker 2>but we don't know how big or small that future

0:14:25.030 --> 0:14:28.000
<v Speaker 2>is going to be yet. And whether to consider that

0:14:28.010 --> 0:14:31.100
<v Speaker 2>a standard part of an investment portfolio, I'm not totally

0:14:31.100 --> 0:14:34.200
<v Speaker 2>sure at this point in time given how early we are.

0:14:34.210 --> 0:14:37.100
<v Speaker 1>Yeah, that's a very important question to ask, especially if

0:14:37.100 --> 0:14:39.010
<v Speaker 1>you want to look at it in terms of an investment.

0:14:39.020 --> 0:14:42.550
<v Speaker 1>It depends on your investment personality, right? Whether you're an

0:14:42.550 --> 0:14:45.190
<v Speaker 1>earlier doctor or you're a follower, you want to see

0:14:45.190 --> 0:14:48.190
<v Speaker 1>what happens. It really just does depend on what kind

0:14:48.190 --> 0:14:50.060
<v Speaker 1>of risk appetite you have as an

0:14:50.076 --> 0:14:50.846
<v Speaker 1>investor. Right?

0:14:50.846 --> 0:14:53.486
<v Speaker 2>Absolutely. And I think we think about the way people

0:14:53.486 --> 0:14:56.926
<v Speaker 2>do due diligence on traditional investments. It's important to do

0:14:56.926 --> 0:14:58.926
<v Speaker 2>that even when you're looking at an N F T

0:14:58.926 --> 0:15:00.786
<v Speaker 2>and N F T project, even if you're just doing

0:15:00.786 --> 0:15:01.906
<v Speaker 2>it personally. Yeah,

0:15:01.916 --> 0:15:06.156
<v Speaker 1>absolutely. Okay. So N F T s we established they

0:15:06.156 --> 0:15:10.206
<v Speaker 1>are largely paid with Cryptocurrency like Ethereum. So their value

0:15:10.206 --> 0:15:14.006
<v Speaker 1>is then tied to crypto, which we know is very

0:15:14.006 --> 0:15:17.120
<v Speaker 1>volatile right now. Should your average

0:15:17.132 --> 0:15:20.792
<v Speaker 1>retail investors even be looking at N F T s

0:15:20.802 --> 0:15:23.362
<v Speaker 1>as an investment? So I know a lot of younger

0:15:23.362 --> 0:15:26.522
<v Speaker 1>people are turning to retail investment, a lot of it's

0:15:26.522 --> 0:15:29.242
<v Speaker 1>very accessible now and they're jumping on this N F

0:15:29.242 --> 0:15:31.202
<v Speaker 1>T bandwagon. What's your

0:15:31.202 --> 0:15:35.502
<v Speaker 2>take? So me personally, I would say it has become

0:15:35.512 --> 0:15:38.142
<v Speaker 2>more of a speculative asset when we're talking about our

0:15:38.152 --> 0:15:40.422
<v Speaker 2>N F T s and the types of N F

0:15:40.422 --> 0:15:42.622
<v Speaker 2>T s that you would buy at open sea that

0:15:42.622 --> 0:15:44.190
<v Speaker 2>are attached to pegs, right?

0:15:44.380 --> 0:15:47.540
<v Speaker 2>Their digital assets in their early days, we believe that

0:15:47.540 --> 0:15:49.090
<v Speaker 2>there is a future in front of t is how

0:15:49.090 --> 0:15:51.530
<v Speaker 2>big that future is. We're not totally sure what their

0:15:51.530 --> 0:15:54.020
<v Speaker 2>use cases will be that move into the mainstream. We're

0:15:54.020 --> 0:15:57.760
<v Speaker 2>not totally sure will there be more digital assets moving forward?

0:15:57.770 --> 0:16:00.070
<v Speaker 2>Are we going to live our lives increasingly in a

0:16:00.070 --> 0:16:02.940
<v Speaker 2>digital space? These are all questions to consider and like

0:16:02.940 --> 0:16:03.060
<v Speaker 2>Ice

0:16:03.070 --> 0:16:06.100
<v Speaker 2>said, really to do your research and due diligence and

0:16:06.110 --> 0:16:08.870
<v Speaker 2>see the utility of what you're buying and whether it's

0:16:08.890 --> 0:16:12.270
<v Speaker 2>something that you're buying for yourself personally to showcase an

0:16:12.280 --> 0:16:16.400
<v Speaker 2>aspect of your personality in your digital space or is

0:16:16.400 --> 0:16:19.290
<v Speaker 2>it purely an investment in which case really look at it?

0:16:19.300 --> 0:16:21.910
<v Speaker 2>Like you would look at any other investment and do

0:16:21.960 --> 0:16:24.820
<v Speaker 2>the adequate research, do the due diligence behind it. So

0:16:24.820 --> 0:16:24.990
<v Speaker 2>if

0:16:24.990 --> 0:16:27.320
<v Speaker 1>I already own an N F T, should I be

0:16:27.320 --> 0:16:30.060
<v Speaker 1>looking to sell it now or should I hang on

0:16:30.060 --> 0:16:31.560
<v Speaker 1>to it?

0:16:31.910 --> 0:16:34.700
<v Speaker 2>Yeah, that's a good question. Like I said, not all

0:16:34.700 --> 0:16:36.020
<v Speaker 2>N F T s are created equal.

0:16:36.020 --> 0:16:37.750
<v Speaker 1>Have you sold any N F T s in recent

0:16:37.750 --> 0:16:40.180
<v Speaker 1>times or are you hanging on to all of them? Still?

0:16:40.190 --> 0:16:42.930
<v Speaker 2>I honestly could not for the life of me. Tell

0:16:42.930 --> 0:16:45.280
<v Speaker 2>you which N F T S I have right now

0:16:45.280 --> 0:16:47.190
<v Speaker 2>and where they are because

0:16:47.190 --> 0:16:47.780
<v Speaker 1>you bought, just

0:16:48.020 --> 0:16:50.390
<v Speaker 2>because I've bought, I've bought quite a few.

0:16:51.430 --> 0:16:55.420
<v Speaker 1>Okay, final advice for our listeners who may be thinking

0:16:55.420 --> 0:16:58.270
<v Speaker 1>of investing in N F T s or just buying

0:16:58.270 --> 0:16:59.760
<v Speaker 1>an N F T, please,

0:16:59.760 --> 0:17:02.760
<v Speaker 2>please do your research only invest in things that you

0:17:02.760 --> 0:17:06.719
<v Speaker 2>fully understand and really look into the technology behind N

0:17:06.720 --> 0:17:09.429
<v Speaker 2>F T s because it's so interesting and it is

0:17:09.430 --> 0:17:11.790
<v Speaker 2>going to be something that is prevalent in our lives

0:17:11.790 --> 0:17:15.690
<v Speaker 2>beyond just collecting art and be open minded. You never

0:17:15.690 --> 0:17:15.760
<v Speaker 2>know

0:17:15.770 --> 0:17:16.879
<v Speaker 2>where it's gonna go.

0:17:16.890 --> 0:17:19.790
<v Speaker 1>All right. So thanks so much, Sanya for spilling the

0:17:19.790 --> 0:17:22.480
<v Speaker 1>tea on N F T s giving us a clearer

0:17:22.480 --> 0:17:26.200
<v Speaker 1>picture on what makes them valuable time. So our N

0:17:26.200 --> 0:17:29.410
<v Speaker 1>F T is worth it, I guess as with all investments,

0:17:29.420 --> 0:17:33.679
<v Speaker 1>know your own risk appetite, do your homework. Sanya has

0:17:33.690 --> 0:17:37.190
<v Speaker 1>emphasized this over and over again, do your research before

0:17:37.190 --> 0:17:39.899
<v Speaker 1>committing and thank you to you, our listener.

0:17:40.109 --> 0:17:42.780
<v Speaker 1>If you've enjoyed this episode of Money Talks as more

0:17:42.780 --> 0:17:45.930
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0:17:54.580 --> 0:17:58.070
<v Speaker 1>podcasts at mediacorp dot com dot SG. The team behind

0:17:58.070 --> 0:18:03.060
<v Speaker 1>Money Talks is Jacqueline Chan, Joanne Chan Christina Robert, and

0:18:03.070 --> 0:18:04.060
<v Speaker 1>I'm Andrea