NFT ticketing 'further enables' users into live event experiences

NFT ticketing 'further enables' users into live event experiences: Yellowheart CEO

Yellowheart CEO Josh Katz sits down with Yahoo Finance Live to react to Bill Gates' comments on NFTs, the outlook on NFT smart contracts being utilized in various industries, NFT uses for live event ticketing, and how to de-incentivize ticket scalping with this technology.

NFT ticketing 'further enables' users into live event experiences: Yellowheart CEO
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NFT ticketing 'further enables' users into live event experiences: Yellowheart CEO

Thu, June 16, 2022, 6:09 AM

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Video Transcript

DAVE BRIGGS: Well, feels like summer, Seana, but it looks like the crypto winter is here with more than $1 trillion wiped away since early April, and the price of Bitcoin down more than 25% in a week, 50%-plus this year. Bill Gates pouring salt on the wounds of the crypto community at a TechCrunch climate summit on Tuesday. Listen.

BILL GATES: Well, I mean, obviously, expensive digital images of monkeys are going to improve the world immensely.

- We all agree on that.

BILL GATES: And that's so incredible. Anyway, I'm used to asset classes where-- like a farm where they have output or a company where they make products. To have an asset class that's 100% based on greater fool theory that somebody's going to pay more for it than I do--

DAVE BRIGGS: Josh Katz is the CEO of NFT marketplace Yellowheart. He joins us now. Josh, good to see you. I'm sure you're thrilled about the sentiment there from Mr. Gates and his 100% based on greater fool theory. Your reaction?

JOSH KATZ: I agree. I think that this underlying technology is really what it's all about. Profile pictures were a great way to begin the world introduction to NFTs, but it's not what blockchain technology is really all about. The provable scarcity, provable ownership of the blockchain has enabled the profile picture, but it's really just the beginning of the use of blockchain technology and Web3.

RACHELLE AKUFFO: Hey, Josh. Rachelle here. So where are we in terms of NFTs? Obviously, when something first comes in, a lot of hype, see a lot of people get into the space, perhaps not using it, as you mentioned there, for the long-term intentions. Where are we in that cycle? And when do you think we'll really get to see NFTs mature as they were meant to be?

NFT ticketing 'further enables' users into live event experiences: Yellowheart C...