Non-fungible Tokens (NFTs) are all the rage these days. But what are they exactly? On this podcast, listen to Samson Williams, the President of the Crowdfunding Professional Association, as he explains in simple terms everything you need to know about NFTs and Distributed Autonomous Organization (DAOs). Whatever your background knowledge is of crowdfunding, tokenization, blockchain, or technology, you’ll get all the info you will need to understand why there is so much hype around it all, and learn some pointers on how to protect yourself from possible fraud as well. Be warned: you may be floored by the truth bombs being presented on this podcast!
NFT marketplaces such as Open Sea allow you to create and sell non-fungible tokens of just about anything you can imagine. But when you buy an NFT, what are you actually paying for? What do you really own? Where is the value in your investment? What does proof of authenticity exactly mean? How is the NFT created and at what are the costs involved? How is the value of that NFT determined? And perhaps most important: are NFTs regulated securities? Remember: YOU assume all the risks of participating in an unregulated securities scheme!
And what about Distributed Autonomous Organization (DAOs)? Mr. Williams addresses all these issues as goes over some areas where he believes NFTs make the most sense, hint: think real estate. He also addresses the meaning of such terms as scarcity, staking, wash trading, gas fees, e-wallets, private keys and minting. In other words, bookmark this podcast and listen to it over and over as it truly is an eye-opener. You better be careful because fraud exists out there.
Questions? Comments? You can contact Samson Williams at the CFPA website at www.CFPA.org, at the CrowdfundingEcosystem.com, or you can also learn more about him at his â€œAxes and Eggsâ€ website. If you’re interested in crowdfunding, perhaps you’d like to join the CFPA as well… I did!
ABOUT OUR GUEST: Samson Williams
Samson Williams is a serial entrepreneur and accidental investor. When not starting business with his enemies (“Entrepreneurship is hard. I only recommend it to my enemies.”), Samson is an Adjunct Professor at Columbia University in NYC and University of New Hampshire School of Law where he teaches on blockchain, cryptocurrencies and the Space Economy. Samson is also President of the Crowdfunding Professional Association and investor into two investment crowdfunding platforms Brite.us – CrowdInvesting Done Brite and GoingPublic.com. For more information on Samson visit www.SamsonWilliams.com and follow him on social @HustleFundBaby.
In addition, he has authored the following books:
- Raising Money – Understanding Cryptocurrencies, Crowdfunding, Startup Capital
- Blockchain & The Space Economy
- The Space Economy – Book Zero of The Space Economies Series
- Lifestyle Money: Blockchain, Cryptocurrencies, Crowdfunding & The Future of Money and Wealth
- Stop Sucking Up to VCs
- Race & Space – Racial Equity & Justice in the Space Economy
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