What is the future of NFTs? With Stephen Young, Co-Founder of NFTfi - Ep. 45

In this episode, Ben, research analyst at CoinGecko is joined by Stephen Young, Co- Founder of NFTfi. Stephen gives us an insight into the world of NFTs, the challenges faced unique to NFT-type loans and how NFTfi aims to pave the way for NFT loans! [00:00:44] Intro[00:01:52] Stephen’s professional career and artistic background[00:02:37] What is NFTfi and how does it work?[00:06:04] Stephen’s favorite NFT?[00:08:57] Challenges faced: NFT vs. DeFi type loans[00:13:07] Why is provenance important?[00:16:56] What creates value for NFTs?[00:23:55] The correlation between mindset and value in NFTs[00:29:03] Thoughts on fractionalization NFTs[00:31:51] How to address the core issues faced by NFT holders?[00:37:54] How do you spot a fake NFT?[00:43:00] Stephen’s thoughts on NFT collecting[00:50:40] NFTfi’s plans for 2022Quotes from the episode:“when NFTs came around and, you know, really allowed me to take my professional career where like having a history in software development, as well as finance and combine it with one of my private passions, which is art” [00:02:25] “...what we allow on NFTfi is, it allows people with NFTs to get a cryptocurrency loan using the NFT as collateral.” [00:02:43]“NFTfi is a peer to peer marketplace, where people with NFTs can list their NFTs on our platform and people with capital, can then make them offers to give them loans on those NFTs, using them as collateral.” [00:02:52]Watch the Podcast on YouTubeWebsiteNFTfi - https://www.nftfi.com/CoinGecko - https://www.coingecko.com/Social MediaNFTfi:https://twitter.com/NFTfiCoinGecko:https://twitter.com/coingeckohttps://www.youtube.com/c/CoinGeckoTV/https://www.instagram.com/coingecko/https://www.tiktok.com/@coingeckotvhttps://t.me/coingecko