Jodee Rich on NFT.NYC conference and non fungible tokens

0:22a little bit about what is nft NYC when is it what is the main focus of the event so NF t stands for non fungible tokens it's a part of blockchain and in if T's a digital assets and about seven months ago we got together with some of our friends and we decided that we'd have a small conference with the thought leaders of the NFT industry and the conference's turned out to be so much

0:50bigger than we've expected with had now over a hundred speakers who are coming to talk about all the different flavors of NF TS how they're going to be used and it's on the 20th of February at the PlayStation Theatre in Times Square so all the speakers are going to have some of their wisdom up on a amazing time Square billboard Wow that's that sounds

1:11great I'm glad to hear that you guys have had such traction through that and I know that non-federal tokens are becoming one of the more popular topics to talk about so what kind of topics in you know more specifically or in general are people going to be hearing about at this event and how is it different from other events is this the first of its kind well we think that and if days are

1:35actually going to be one of the first real applications for the blockchain the blockchain has been featured in speculative currencies over the last few years and what we love about in if T's is there's so many different really interesting applications that relate to all sorts of things so an NF T is essentially a way of tokenizing or putting on the blockchain any digital

2:00asset and our digital assets are our awards our licenses tickets that could be redeemable for an event title deed we even have one person who's speaking about coins that are about Indian gods so if you want to donate to an Indian God and apparently there are 22,000 of them you can donate to this NF T and then the NF t has a rule about how that

2:29money is distributed and so instead of having a an organization in the middle that's very expensive and you sometimes don't know where your money's going when you give to the Indian God according to your favorite Indian God you know exactly where the money's going I mean that's one of the fun things we have musicians who are coming we have artists who are coming in the artist community

2:50one of the big problems that NFT solves is if you attach a token to an artwork when that our work is sold the artist receives a royalty and we all know that artists when they first start off they don't see very much money for their work but if they become famous their artwork it solves for many millions of dollars but the original artists often doesn't

3:13make money from that so being able to attach and then if T token to a physical piece of artwork it's really interesting and so we have artists come we want to talk about that and of course in the gaming environment how cool would it be if you have a sword that you won or you bought in a game that you could then transport out of the silo of that

3:36game to another game so you so the digital what digital assets you have actually a transportable across one platform to another and that's what any tees do that's why we're so excited about it and so all of these people are coming together it's gonna be very fun conference we have a VIP dinner the night before we have about 60 people come to that and then we're expecting

4:01quite a few hundred people at the first NFT NYC event wow that's wonderful and thank you for the explanation and from what I understand what you're saying digitizing real-world assets non fungible tokens are necessary so it's like a token that represents a specific bar of gold or a specific house or specific anything as opposed to like fungible cryptocurrencies which is just

4:25interchangeable money in each each dollar you know could be switched out with each other is that is that what you're trying to get to that's perfect that's a great explanation and when you have an NF T or digital asset on the blockchain that then becomes yours and all the things associated with it can be can be restricted or limited or licensed by yourself via the blockchain

4:47contract whereas up until now you know we've had many types of digital assets but you've relied on various IP laws and licensing and regulation or just central databases to control your rights now you can actually control your rights yourself on the blockchain yeah and I like how you touched on all the different industries and even all the way up to Indian gods and how these

5:12tokens can represent so many different things it sounds like you guys have quite a diverse range of speakers there and what speakers are you most interested in hearing from that you guys have booked for the event well we've been talking to every speaker and we've also done one-minute videos of the key headlines for each speaker and we'll be distributing those over our

5:33social channels over the next week the topic that interests me most which David Pakman and Michael case you're going to talk about and I'm going to talk about is digital scarcity and so the issue is how do you have digital scarcity for something that is so easy to reproduce and you know one of the really interesting comparisons is likes on

6:01social likes are infinite on social but we all like receiving them we all like counting them and I refer to the squirrel DNA that we all have we all like to collect things like to collect nuts we like to collect likes we like retweets and so in the digital world sometimes the supply can be vast but when you receive something that has value to you and so in if T's help us

6:25regulate and in some cases monetize these digital assets even in the social world and what also interests me is we can attach collaboration and engagement to an ontological token and for example if I took a picture of you and I together to commemorate this interview and then and then shared it on my LinkedIn and said you know really great interview Ashton thank you very

6:50much if I put that in a in our case we have something called a credit that's an NF T that actually gathers comments and connections as people pass it around and what interests me a lot is how can in if T's be used to give people more control in a social network environment so that you are in your own data and you own your own wheat oats and comments and connections and I'll be

7:16talking about that at the event well that's that's very interesting actually I really like what you talked about with having non fungible tokens you know if that were to represent likes and shares and things and there was some form of scarcity behind that you'd really be able to pinpoint where the real value is because people there's a cost to liking

7:35and sharing things of value and people will appreciate that so there's so many different avenues in that I know totally and we've all learnt from the social networks about like some reposts and retweets and google has told us to search but right now we don't control any of our data it's all in silos that are controlled by other people and I think in if T's on the blockchain are

7:58actually going to be the next generation of networks where we have baby networks that we have control over that's what I dream about it that's great so let's go back to the event for a second what who are the lead sponsors of the event are there any big names what kind of firms are we going to see attending well we've had instant young I've had a very big

8:19law firm we've had 0x who run a big platform for exchanges we've had many game developers this open sea that once a digital exchange this created people browser so far I think we have about 15 and I'd be happy to share the list with you that's wonderful thank you and is this a one-off event or are you guys planning more or is that going to depend on the success of the event

9:31and thank you for your time is there any last things you want to say prior to the event here and how can people learn more I think one of the interesting questions that we've asked our speakers one of the interesting questions that we've asked our speakers over the last couple of weeks is what do you think NF T's is what do you think NF T's are going to

9:52look like in five years time and that'll be one of the features to at the event so what is the vision for non fungible token so we've had all sorts of amazing responses from people in fact one one of our speakers he'll have a lot of respect for actually said that they're going to be more digital assets in the world than physical assets in five years time

10:13that's pretty wild that's perm my answer to that question is that I believe that I'm going to be developing my identity through a series of NF T's and I'm actually building a series of coins that represent my life my milestones in my life and I think eventually all aspects of me my personality will be able to be uploaded in some way and that even Jody might

10:37become a non fungible token wow that's really interesting and I'm glad you're taking the initiative to do that well thank you Jody for your time today it's wonderful to hear the insights of non fungible tokens and to hear about your guys upcoming event let's follow up at the event and then and then after as well to see how the event flourishes so thank you so much it's a pleasure Ashton

10:59are you actually going to be I haven't talked to Cameron about this but are you gonna be at the event with a camera yeah I might be there we'll take a look and we're gonna be around the east coast on that time so I'll let my viewers know and I'll be seeing there thank you thank you very much enough never made a Canadian that I don't like thank you so much

11:18it's a pleasure talk to you later