Episode 95 Introduction to NFTs with Andy Storch

In recent years, the hype that NFTs (Non-Fungible Tokens) have created is unmatchable. From art and music to stories and selfies, people are selling and buying everything they can as NFTs. But what is NFT actually? Andy Storch is back on the show to break down NFTs. Andy is a speaker, author of the book Own Your Career Own Your Life, a cancer survivor, a podcaster, an NFT investor, husband and dad.

Listen to this episode to learn more:

[02:47] - About NFTs (Non-fungible tokens)

[06:36] - What are blockchain and cryptocurrency mining?

[09:36] - What is a digital wallet and how is it related to NFTs and blockchain?

[15:57] - Andy's NFT journey

[17:00] - About Ethereum

[21:27] - About Andy's podcast, My NFT Journey

[22:33] - How to build a personal brand in the NFT space

[27:16] - About Metaverse

[30:39] - Advice to someone who is thinking about investing in NFTs

[37:43] - Networking in the NFT space

[39:17] - How to create an NFT collection even if you're not an artist

[47:29] - Making an NFT out of your own quote or meme

Key Takeaways:

• NFT:
• • It is a unique digital code representing some kind of digital item, like art or music, as an investment, or it could be intellectual property or an access code, etc.
  • The keys are: it's digital, trackable, and on the blockchain.
  • An NFT can be verified as authentic or not or how many pieces there are in the world.

• Blockchain:
• • A chain of computers running mathematical equations all around the world to verify and agree on transactions.
  • It is like a digital ledger that's available to everybody worldwide.
  • Every transaction in the blockchain is recorded, and anyone can see that transaction.

• Digital Wallet:
• • A Digital wallet is like a digital safe which is protected by a password, but people can also see what you have if you choose to share them publicly.
  • If your password to your digital wallet is lost, you can recover it using the seed phrase, but if you lose the seed phrase, it's lost forever.

• Seed phrase:
• • A seed phrase is a series of words generated by your digital wallet that give you access to the items associated with that wallet.
  • As long as you have your seed phrase, you'll have access to all of the crypto associated with the wallet — even if you lose the wallet.

• Ethereum is the second biggest cryptocurrency, but it is a little bit different from Bitcoin because, in addition to being a currency, it's also essentially a platform on which NFTs are built, created, and traded.

Links mentioned to buy NFTs:

• https://crypto.com/
• https://www.coinbase.com/
• https://metamask.io/
• https://opensea.io/ - 90% of NFT transactions are done here
• https://looksrare.org/

USEFUL LINKS:

https://andystorch.com/

https://tinyurl.com/OYCOYLBook

https://www.instagram.com/andy_storch

https://www.facebook.com/andystorch

https://www.linkedin.com/in/andystorch

https://twitter.com/AndyStorch

CONNECT WITH JOHN

Website - https://thejohnhulen.com

Instagram - https://www.instagram.com/johnhulen

Facebook - https://www.facebook.com/johnhulen

Twitter - https://www.twitter.com/johnhulen

LinkedIn - https://www.linkedin.com/in/johnhulen

YouTube - https://www.youtube.com/channel/UCLX_NchE8lisC4NL2GciIWA

EPISODE CREDITS

Intro music provided by Tony Palacios - https://www.instagram.com/tonytonedog/

Outro music provided by Jeff Scheetz - https://jeffscheetz.com/