1 00:00:00.030 --> 00:00:03.060 Johny Fernandez: NFTN NYC is in full swing and it is taking 2 00:00:03.060 --> 00:00:05.970 place around different venues here in Manhattan, and it has 3 00:00:05.970 --> 00:00:08.880 over 300 speakers, and we're getting ready to check out the 4 00:00:08.880 --> 00:00:10.650 event to see what the hype is about. 5 00:00:20.560 --> 00:00:23.740 Unknown: NFT in general is a non fungible token, meaning that it 6 00:00:23.740 --> 00:00:27.400 can't be changed back and forth for the same type of value. 7 00:00:27.730 --> 00:00:30.730 Johny Fernandez: Within the last couple of years NFT's have taken 8 00:00:30.730 --> 00:00:33.400 off, especially in 2020. 9 00:00:34.170 --> 00:00:37.020 Unknown: Most projects are on the thing called Aetherium, 10 00:00:37.260 --> 00:00:41.460 which is just another blockchain but you need their currency. So 11 00:00:41.460 --> 00:00:44.910 you take your dollar you buy, you get a digital wallet, like 12 00:00:44.910 --> 00:00:48.630 Meta Mask downloaded to your phone, you use it to purchase 13 00:00:48.990 --> 00:00:52.080 digital currency, and then you're in the game. 14 00:00:52.560 --> 00:00:56.070 NFTS are the opportunity for people to create and to connect 15 00:00:56.070 --> 00:00:58.950 with people and to break down all the barriers of 16 00:00:58.950 --> 00:01:02.190 communication and the channels to actually let that stuff be 17 00:01:02.190 --> 00:01:06.090 published and sold and commercialized and traded. 18 00:01:06.180 --> 00:01:08.880 Johny Fernandez: Non fungible tokens are unique in what you 19 00:01:08.880 --> 00:01:12.870 can do with it. Which is why this event is important for this 20 00:01:12.870 --> 00:01:13.500 community 21 00:01:13.690 --> 00:01:17.740 Unknown: NFT allows you to own something, the world understands 22 00:01:17.740 --> 00:01:20.260 it, and you can leave it for generational, 23 00:01:20.530 --> 00:01:22.900 Johny Fernandez: We made it inside Margaritaville where NFT 24 00:01:22.900 --> 00:01:26.440 NYC is taking place. Event organizers say that more than 25 00:01:26.440 --> 00:01:29.890 5000 people have arrived to New York City to participate in the 26 00:01:29.890 --> 00:01:33.310 event. Attendees gathered at different seminars to hear, 27 00:01:33.460 --> 00:01:37.150 learn and network with different people that use NFT's in their 28 00:01:37.150 --> 00:01:37.930 business. 29 00:01:38.050 --> 00:01:40.570 Unknown: This is really the meet up of those minds, those 30 00:01:40.570 --> 00:01:43.900 pioneers, those innovators who are driving the industry, those 31 00:01:43.900 --> 00:01:44.680 thought leaders 32 00:01:44.680 --> 00:01:47.860 Everything that's gonna happen in person like we want to catch 33 00:01:47.860 --> 00:01:50.500 as many as we can get to meet them what's going on 34 00:01:50.500 --> 00:01:54.700 collaborate. Yeah, I'm so excited. I've this is great 35 00:01:54.700 --> 00:01:55.120 energy. 36 00:01:55.150 --> 00:01:58.060 NFT's in particular are cool because it's like you're betting 37 00:01:58.060 --> 00:02:01.420 on culture. You're like betting on people directly instead of 38 00:02:01.420 --> 00:02:04.930 like, the labels maybe putting themselves in between you and 39 00:02:04.960 --> 00:02:08.230 artists like they do currently in the music sense of NFT's and 40 00:02:08.230 --> 00:02:10.750 that's what we're messing with right now at Cypher, which is a 41 00:02:10.780 --> 00:02:13.420 collectible hip hop NFT platform. 42 00:02:13.660 --> 00:02:16.690 Johny Fernandez: As NFT's continue to evolve, event goers 43 00:02:16.690 --> 00:02:20.860 say they'll continue to invest their time into NFT's. They have 44 00:02:20.860 --> 00:02:23.020 no doubt it will be part of the future. 45 00:02:23.320 --> 00:02:25.120 Unknown: What were going to take away is that like digital 46 00:02:25.120 --> 00:02:27.730 products are becoming more tangible. At the end of the day 47 00:02:27.760 --> 00:02:31.270 Give yourself time and we all put our 10,000 hours in 48 00:02:31.270 --> 00:02:35.680 somewhere. So at least put 2000 in before you keep your 49 00:02:35.680 --> 00:02:36.430 skepticism 50 00:02:36.700 --> 00:02:40.600 Johny Fernandez: At NFT NYC I'm Johnny Fernandez with deBanked 51 00:02:40.630 --> 00:02:41.170 News.