Why are people willing to pay so much for digital art? What role do communities play in the NFT space? How can you get started with NFTs?

In 2021, NFTs broke into the mainstream, and you can hear the term everywhere from critics and supporters alike. But what are they? And why do people pay millions for images someone else can right-click and save?

Today we’re joined by Tara Fung, Co-Founder and CEO of Co:Create, a new protocol that unlocks the potential of NFT communities and ecosystems. Coming from a FinTech background, Tara’s interest in crypto started when she saw the value created in alternative investments. After going down the blockchain rabbit hole, Tara recognized the massive potential that NFTs held for changing the future of brands, communities, and ownership.

In this episode, Tara shares what makes NFTs valuable, how NFTs can change the way we do everything, how Co:Create helps NFT projects and owners to go beyond the drop, why NFTs are so much more than art and PFPs, what to think about before investing in an NFT, and more.

Highlights

Welcome Tara Fung

Why NFTs piqued Tara’s interest

How Tara got comfortable with investing in crypto

What are NFTs and why are they valuable?

Understanding how minting works

The new monetization opportunities that NFTs offer to creators

Tara’s first NFT purchase

Supporting communities and projects by buying NFTs 

How Co:Create helps successful NFT projects to scale

Creating value for the NFT ecosystem

Negative experiences in the NFT space

Tara’s vision for the future of the NFT community

Tara’s background in FinTech

Why Tara isn’t worried about volatility

How you can start getting involved in the NFT space

The connecting power of the community-based Web3 ecosystem

Key terms used in the show

NFT: Non-fungible tokens; An entry on a blockchain establishing who has ownership of a digital item.

Minting: The practice of issuing a unique item (digital or representing a real-world asset) as an NFT, by turning it into a digital token recorded on the blockchain.

PFP: Profile picture; the term typically is used for images that can be bought as part of an NFT series and used on social media profiles.

Definition source: https://www.gmw3.com/2022/02/web3-glossary/

Mentioned in this episode

World of Women https://worldofwomen.art/

Boss Beauties https://bossbeauties.com/

Azuki https://www.azuki.com/

Doodles https://doodles.app/

Connect with Tara Fung

Tara Fung on Twitter https://twitter.com/nonfungibletara

Co:Create’s Website https://www.usecocreate.io/

Co:Create on Twitter https://twitter.com/usecocreate

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