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December 29, 2021

IP Goes Pop! Season 2, Ep #5: The ABCs of NFTs

What is an NFT (Non-Fungible Token)? How are they created? Why would you collect digital files that anyone can obtain or view for free? This week on IP Goes Pop! Volpe Koenig Shareholders and co-hosts Michael Snyder and Joseph Gushue to talk about the ABCs of NFTs.

Michael and Joe break down some of the technical jargon behind NFTs and the basics of blockchain as they explore the current trends and future prospects of this technology and how it could impact the pop culture and intellectual property worlds. Are you the proud owner of a prized baseball card collection or maybe comic books, or stamps? Well, NFTs are somewhat like a digital version of some of these more traditional collectibles, and NFTs have been gaining popularity and value in recent years.

Have you ever heard stories of people spending large sums of money for collectible items, only to find out later the item they purchased was not what they were led to believe? To curb this phenomenon, many collectors will seek certificates of authenticity for their items. However, even certificates of authenticity can be faked. Listen as Michael and Joe discuss how NFTs may have solved this counterfeiting issue once and for all by running on the blockchain.

Michael and Joe conclude this episode with a discussion of smart contracts and some of the logistics of NFT creation. Learn how some well-known organizations like Nike and the NBA are getting starting to create NFTs.

In this episode:

  • Traditional collectibles and the relation to NFTs
  • Introduction to NFTs
  • What is “Blockchain”?
    • “Smart” contracts
  • Artist Collections and NFTs
    • Larva Labs – Crypto Purnks
    • CryptoKitties
  • NFTs as assets
  • Intellectual property rights in NFTs
  • NFTs in Pop Culture
    • NBA Top Shot – Officially Licensed Digital Collectibles
    • How Nike’s Likely NFT Move Could Shake Up the Sneaker Resale Market
    • NFTs for Events

 

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