Future of NFTs with Michael Gu from Boxmining Magic Internet Money

In this episode of Magic Internet Money, host Brad Mills invites lead editor of BoxMining.com, Michael Gu onto the show to discuss the recent NFT boom. Brad warns it’s a “tulip style bubble”, but remarks it’s a technology that’s here to stay. Michael offers his experience working in the field of gaming as an example of the future of NFTs. The two discuss how the field of collectables and art sales could be changed by the adoption of NFT technology. Brad and Michael speculate on altcoins, the effects from macromarkets on crypto, and the philosophy of Bitcoin. They further speculate on the future of crypto asset based games and what a successful model for one might look like.

Timestamps
00:00:43 - Show start
00:00:56 - The NFT bull market
00:04:59 - Ethereum’s relationship to NFT
00:08:40 - Game assets not a model for NFTs
00:13:08 - History between ETH and BTC
00:17:58 - Bitcoin maximalist philosophy
00:21:23 - Maximalism and motivations in life
00:24:12 - Risk among cryptocurrencies
00:31:50 - Risks for newcomers in the crypto space. “Degen pits”.
00:39:00 - Anti-altcoining and the debate around it
00:43:04 - Macro markets and their relation to Bitcoin
00:46:36 - Infinite Fleet and NFT video game assets
01:00:27 - The metaverse and the economic side to gaming
01:05:10 - The collectables market
01:12:03 - Crypto games and non-crypto games
01:15:06 - Recommendations about Bitcoin and NFT
01:20:14 - Closing remarks and outro