Wondering What NFTs Are? Or How to Invest in Them? This Expert Explains
Ian Rogers remembers the days when you couldn't simply say "go to my website." First, you had to explain what the internet was and how it worked. Then you had to install a TCP/IP stack, a modem, and a web browser. But Rogers looks back at these moments fondly because it reminds him of how technology can move from science fiction to mainstream. And this is kind of how he views non-fungible tokens (NFTs) right now: Nearing mainstream. NFTs are digital files such as art, video, audio, and other files stored on blockchain, which is the digital ledger technology that powers cryptocurrencies like Bitcoin (CRYPTO: BTC). Some NFTs have already sold for millions of dollars.
Rogers spent 20 years of his career bringing digital music to the masses, first with Winamp then Yahoo!, Beats, and Apple. Then Rogers served as chief digital officer with the luxury goods company LVMH, where he spent five years working with brands including Louis Vuitton, Dior, Sephora, and Hennessy. Now, Rogers is the chief experience officer at the digital hardware wallet company Ledger, which helps people secure their digital assets. I caught up with Rogers to discuss the rise of NFTs, the sustainability of the market, and how people should should think about NFTs in terms of investing.
Bram Berkowitz: NFTs have really taken off. Do you think this is a direct result of the recent surge in Bitcoin and other cryptocurrencies, or the acceleration of digital trends during the pandemic?
Source Fool.com
