Good Disruption: NFTs
Twitter co-founder Jack Dorsey’s first tweet – "just setting up my twttr" – sold for more than $2.9 million. Bored Ape Yacht Club digital art pieces fetch just over $100,000. NBA Top Shot sells digital NBA moments for millions of dollars. Non-fungible tokens, or NFTs, are making this possible. But is it more hype than reality?
Previous episodes explored the phenomenon of algorithms creating art and music and touched on the idea of NFTs representing personal data. In this episode we dig deeper into the growing NFT market. Will NFTs be more broadly adopted or limited to the wealthy? What are the potential negative externalities associated with using NFTs, such as energy consumption, malicious behavior and equal access?
Hosts and Darden Professors Mike Lenox and Yael Grushka-Cockayne speak with colleague Dennie Kim, whose research examines the design and performance of whole organizational networks, as well as the emergence and evolution of new industries. His current work examines multiple contexts, including disparities in health care delivery, health care reform, whisky, and blockchain applications – including NFTs.