Key points covered in this episode:

Proof of Ownership. Right now, if I buy a car, I get a title that I have to put in my bank vault and take great care of.

Later, it’s just going to be a piece of digital form that I can show and sell, even to someone in another country.

A decentralized economy is more open, interoperable, and transparent. It helps move smart contracts faster on the blockchain to create protocols that replicate existing financial services.

It’s not just a regular Bank of America or U.S. Bank or what you’re used to.

It’s now on the blockchain using the funds that you have on the blockchain.

Music, media, entertainment, even real estate is going to change. Because of NFTs, the art world is already transforming. We’ve seen people on Clubhouse launching their art because they’re getting more people involved. We saw Snoop Dogg launch his NFT on Clubhouse, and it brought in over $800K for his very first NFT — he was even surprised that he would get that much interest. Some people who were big fans of his were placed in there, and it created a snowball effect, and people couldn’t wait to be part of it.