NFTs allow people to have and now collect digital goods. As 60 minutes + reported last week, they have major implications in the art world. But the NFT also changes music, fashion, sports and more – they allow people to buy digital moments, whether it is blocked in a basketball game or even a popular meme.
In a new 60-minute report + streaming now on Paramount +, the correspondent Laurie Segall followed as a award-winning rapper and songwriter Flo Rida made a performance of his song, “Low”, in an NFT.
“So when people get the NFT of what happened today,” Segall asked the artist, “what do they get? What do they have when it comes to you, Flo Rida?”
“They have a very special moment of myself or someone else, you know,” said Flo Rida. “And, you know, it’s this digital moment.”
The reason why these “digital moments” can be sold in NFTS is because of what is called blockchain technology – a large permanent digital book which has what has what in the virtual world, in this case, NFTS. And there is money to be won – in April, a video of LeBron James Dunking in honor of the end of Kobe Bryant sold with an NFT for more than $ 387,000. Kovacs and Erik Hicks founded Emmersive Entertainment – a company that creates NFT so that people have and collect.
“Consider it as a piece of real estate,” Kovaks said. “If you buy a piece of real estate and close on it, you get an act, right? So, this blockchain is like an act. You get an act for this digital active.”
And everything can be transformed into a digital asset, including a 60 -minute +correspondent. During his trip to Emmersive Entertainment, Segall was able to have a 3D avatar herself produced in NFT.
“I say that in a humiliating way. Why would someone want to buy my NFT?” Segall asked Kovaks. “What is the value? Just explain it to me.”
“Well, consider NFT again as memories,” said Kovaks. “You now allow everyone to create moments. And the market will determine what these moments are assessed. Perhaps you can create a JPEG of yourself in the middle of one of the best interviews. And I did the story. And that NFT will have a value. Someone could be interested.”
These NFTs live more and more in something called “metavers”. Cathy Hackl, vice-president of Avatar Dimension, explained what it is.
“I think about it in the convergence of physics and digital,” Hackl told Segall. “To put it in terms of today, at the moment, we have a kind of physical personality that we are in the real world. And then we have this digital personality that we are on LinkedIn or Instagram or Tiktok, right? So, in some respects, it’s a bit like converging these two. It is a certain way, the next computer information and the next iteration of the Internet.”
And real estate in the next internet iteration is already becoming a hot product. To find out more, see the report, streaming now on Paramount +.
