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Bernhard Neumann Podcast
10 minutes | Jan 8, 2022
The Magnitude of NFTs (Don't miss this) | Bernhard Neumann E1
Do not miss this! This might sound dramatic but hear me out. NFTs are conquering the art market. Already in its first year of broader adoption, the NFT market reaches a sales volume of roughly $40 billion, compared to a $50 billion traditional art market. The data might not be perfectly accurate due to the difficulty of collecting it (source: Financial Times), but it certainly is close enough to show the trend. I am an NFT enthusiast. Nevertheless, the success is shocking me. The traditional art market has been here for centuries. The NFT market started officially in 2018 but effectively only in February of 2021. In the coming month, I am happy to go into the details of NFTs with you. For now, I think it is crucial for everyone (really everyone) to understand the magnitude of NFTs. Ignoring this technology is just as unfortunate as ignoring the internet. This comparison is really not an exaggeration. Let me leave you with this: I think we can all agree that ownership and property have been essential concepts for humanity so far. NFTs enable digital ownership and property. Our world is digital and gets more digital every day. Now you do the math yourself… Source: https://www.ft.com/content/e95f5ac2-0476-41f4-abd4-8a99faa7737d #NFT #NFTs #Art #Blockchain #BernhardNeumann
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