For 7 Best DeFi Strategies To Make You Money click https://cryptoversity.krtra.com/t/En8qC4kR7udT --- Chris (00:15): Hi there, guys, and welcome to another edition of the Wise Crypto Sunday Special with me, your host, Chris Coney. Back with me again is the lovely Marija. Marija, welcome back to the Sunday Special. Marija (00:25): Hello, Chris. Thank you for having me. Chris (00:27): The perfect guest for today. We're going to be talking about, I've called it the state of NFTs. This is kind of something we're going to have to talk about periodically because it's a rapidly moving space as most of crypto is, but I thought we'd talk about the NFT space in general, and then what's the current trends and hot topics within that. So considering this is the first time we've spoken about NFTs on the Sunday Special let's set a bit of an education piece first, and then we can go into some more details. So we're in this age of tokenization. So can you lay out in the most general terms, what the NFT space is all about? Marija (01:04): Well, NFT space is about tokenization. Tokenization is a wider subject. Tokenization is a method of converting physical and digital assets into tokens. So into converting rights to an asset, to a token, and I would say we have a fungible type of tokenization. We also have a non-fungible type. NFTs are non-fungible type, which means they are not interchangeable. They have different values. Each NFT, each non-fungible token has a different value. Like you mentioned once, a used car cannot be exchanged for another used car because they have different features such as number of kilometers and things like that. So they're have unique values. They are not divisible and they're called NFTs, but we also have tokenization of fungible things, like, for example, tokenization of gold, which means that each token can be exchanged for another and, or I don't know, stocks and things like that, which can be fungible like Bitcoin is fungible, like a dollar is fungible. $1 always worth another dollar. Chris (02:35): It doesn't matter which dollar you get, right? But what's the difference, say if you tokenize gold or a stock or something, what's the difference between tokenizing it and having it as like a piece of paper, share certificate that represents it? Is tokenization specifically turning it into a crypto token? Is that what we're talking about? Marija (02:56): Tokenization of gold or of stocks is a specific thing. Basically cI don't think there's like, yeah, of course, unique ability of the blockchain, of the ownership, things like that. But yeah, I would say it's the future probably. Chris (04:00): Okay, sure. So with tokenization it's like a grant and a token that represents sort of the asset, whereas sometimes the token and the asset are the same thing. Like you could say if a theorem is a token, but it is also the asset. Does that make any sense to you? Marija (04:21): Yeah. Crypto assets. I mean, yeah. Chris (04:25): They are digital tokens, but they are the asset as well, whereas a stock, it might have a digital token, but it represents something elsewhere. Like a used car might be tokenized, but the token isn't the asset. It just represents it. Marija (04:43): Represents, exactly. When it's a physical thing which exists outside of the digital world, it's just a representation of giving the rights to token holder of that asset. So that's why it's very important to say that sometimes, well, most of the times tokenization is like securitization, and it's Basically many of those tokens are securities, in fact, and that's why it's very, very difficult to tokenize real estate. It's difficult to tokenize it in terms of how to make the token and put it on a blockchain, but it's difficult and complicated because it involves government laws. You have to change the laws related to [inaudible 00:05:38], to all these agencies and institutions where you need to register your real estate and things like that. So basically some real world assets are easier to tokenize than others. And many of the real-world assets that you would like to tokenize, you simply can't unless there is a regulation already in place for that to happen, or you can do it in some crypto friendly jurisdiction that already is kind of solving that issue and working on that. But yeah, it's not so simple.