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On the JRE podcast, Reggie Watts tried to clear up Joe’s confusion in regards to the world of NFTs and cryptocurrency — however that wasn’t as simple because it may need appeared.
NFTs are one of many newest crazes within the crypto house, with some promoting for thousands and thousands of {dollars}, and stars like Logan Paul leaping on the hype with a few of their very own. Nevertheless, NFTs are proving to be a fairly baffling subject for a lot of — together with Joe Rogan.
After the subject of NFTs got here up on episode 1648 of the JRE podcast with visitor Reggie Watts, Joe instantly took the chance to attempt to acquire a bit extra perception into the complicated subject.
“Maintain, please. Clarify NFTs to those that don’t know what you’re speaking about,” he stated. “As a result of I don’t know what you’re speaking about. I do, however I don’t. I do know it’s a Non-Fungible token. I’m not precisely positive what meaning.”
They ended up having to Google the phrase ‘fungible’ to attempt to break down the that means of the acronym: “Of products contracted for with out a person specimen being specified) replaceable by one other equivalent merchandise; mutually interchangeable.”
Joe took the chance to be taught extra in regards to the world of NFTs.
However wanting up the definition solely appeared to make issues worse, with Rogan responding, “okay, I perceive it even much less now.”
Reggie then determined to take his personal strategy in attempting to explains NFTs to the podcaster. “I’ve made a 30-second video of me operating round a park or one thing like that,” he started. “If I wanna make that non-fungible, then I mint it. And by minting I imply you employ a minting service like Basis or Zora, there’s many others.”
“You get a crypto pockets, you get the crypto pockets arrange. You place cash in it, it’s transformed into the crypto of your alternative. Let’s say ETH, which could be very widespread. Ethereum.”
Nevertheless, the point out of the cryptocurrency solely appeared to confuse Joe extra, seeming to have by no means heard of it earlier than.
He described the truth that folks like Beeple have offered NFTs for as much as $69 million as “beautiful” and requested: “How would you go about being really wealthy with this. Like how does Beeple go from this to being a baller?”
Reggie defined: “Properly they bid, whoever bids, similar to an everyday public sale, after which they bid utilizing crypto, and the crypto’s transferred earlier than they switch the file.”
It’s not clear whether or not Joe was any much less confused on the topic by the tip of the dialog, but it surely appears because the viewers have been in the identical boat, with one YouTube commenter writing, “this video was purported to clear up NFT, now I’m extra confused.”
The Joe Rogan Expertise podcast not too long ago lastly moved to a brand new studio in Texas, with the design wanting extra like his unique studio that many followers liked earlier than he moved to his earlier momentary studio.
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