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In Part 1 of our 101 Beginner’s Guide to NFTs with Brad Barrett, we covered the basic definition of an NFT, how Brad went from skeptic to believer, the differences between web 1.0, 2.0 and 3.0, and how understanding trading cards and collectibles allow you to understand how NFTs work.

In this Episode:

• Why most experts believe 99% of the current NFTs out there will go to zero
• Why the future of NFTs belong to creators and communities
• An intro discussion to Smart Contracts and why they revolutionize ownership as well as wealth creation
• How to understand the risks of the NFT world, and why Brad would say, “no one is coming to save you” if you fall prey to hackers or scammers
• Understanding the difference between centralized and decentralized systems
• Why it’s ok to just learn right now and not feel the pressure of needing to jump in and buy right away

Where to Go From Here: Resources

Bankless Podcast Episode #1: Welcome to Bankless

Tim Ferriss Podcast, Episode #542: Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs 

Bankless, Episode #90: 5 Mental Models for Web 3.0 with Chris Dixon

Impact Theory with Tom Bilyeu: Understand and Leverage Web 3, NFT’s and the Future of Blockchain Technology