Around the Block With Jefferson Nunn

Arvin Khamseh  1:20   

Yeah, so I mean, it’s so initially, I think it started as just PFPs were, so it’s just a profile pictures, essentially, there was a specific artwork, a lot of them were actually to these. And, you know, at the beginning, I actually like very popular projects right now. But back then, when we started, like, they were giving him away for free, and people didn’t know it has any equals any value, right. In fact, actually, I was on a podcast the other day, someone just sold a board ape for 10k. And which is, you know, for someone who doesn’t know, the value of board a, typically, you know, they’re in the 300k plus range. So, it’s just that the, the concept of the artwork, I think for, again, giving people context on this is all about the community about the utility, what actually goes on the story behind the project. So, I’ve seen all the way from the 2D artwork, to, you know, the most complex videos or like audio work, where there is a lot of utilities behind it.

So, for example, like I give you an example of utility, so one brand, they did marketing, they sold out as called San Vegas casino club, they, their messaging, the marketing messaging is, you can be the house, and the house always wins. Now, what they provide for the holders of their NFTs is that if you hold the NFT, you get a percentage of the profit of the casino, so 50% of the profit of the casino every month. So, this is a casino in the virtual lab, by the way, it doesn’t exist in in the physical world, but 50% of the profit of the casino every month is distributed amongst the holders of the NFT. As if you hold one, then you can get a monthly payment into your bank account, which is awesome. Although it would be a crypto wallet, but still pretty cool. And so, So that’s like an example. It’s actually very simple one, there are many other projects out there. They’re very complicated. Like there’s one specifically they were they had to send me three articles to understand. But the whole thing is to just like give you give your listeners some idea of like the extent of this, they basically created this NFT a character where you can use this character in a specific Metaverse in the like different virtual lands, essentially. And then once you done use it, first of all, you can actually train it.

So, this character becomes like a better character, like as far as the abilities. Let’s say someone, let’s say it’s like, let’s say soldier, for example, you can train that soldier in the individual world, and that soldier becomes a better social becomes like a general and that has a higher value than the previously bought soldier. Right? So, so you can do all of that. And then then later on, you can rent it, you can rent that character to other people in the virtual world. So, they can see you can build a source of income for yourself. Now, once you’re just at some point, maybe you’re just like done, you’re like, okay, I just want to cash out, you can actually burn the NFT take your money out of the NFT and all the money, I guess all the royalties from the trading that has happened before you also get a percentage of all of that when you burn it. So, like they’ve created a very complete It’s like, there’s like a token within an NFT, where like, you can burn it, and you can do stuff with it. So, it can get really complex. But it’s also like their artwork out there. They’re just like, here’s the art, we don’t have like much utilities. But like, if you guys excited about our artwork, and the story that we have as an artist, then you can get behind in this photo.