According to podcast host and comedian Joe Rogan, NFTs are a ‘cryptocurrency hustle’ that’s too difficult to understand. Although the sports commentator owns digital assets himself, he revealed not being interested in non-fungible tokens.
Joe Rogan: ‘NFT doesn’t make any sense’
While the NFT market becomes crowded with celebrities, Joe Rogan doesn’t grasp the concept. In a recent podcast, the UFC commentator declared that he’s not planning to purchase any non-fungible tokens.
Moreover, he explained that NFTs are more of a hurdle in the progress of the crypto universe. More precisely, he declared:
“It’s a weird hustle. I think it’s like a cryptocurrency hustle. It doesn’t make any sense to me.”
Lastly, Joe Rogan concluded that spending tremendous amounts of money on a virtual file is pointless:
“Here’s my problem: I can have that photo and I can have it on my phone.”
This recent statement came as a surprise for many, given that Rogan already owns certain digital assets. During the same podcast, the comedian confirmed that he has “a little bit of crypto.”
However, Joe Rogan did send some hints regarding his opinion on NFTs. Last spring, comedian Reggie Watts briefly explained the concept of non-fungible tokens during a podcast. As he finished the explanation, Rogan replied that he now “understands even less” about the matter.
Is the NFT market a ‘weird hustle?’
Although the first NFTs emerged years ago, it was only this year that the market truly exploded. As a result, the majority of the population is still unaware of this digital world – let alone owning their own non-fungible token.
But are NFTs truly a ‘weird hustle,’ as Joe Rogan describes them?
Well, in essence, non-fungible tokens are items one can purchase digitally. Although these items are mainly digital, many artists and companies started linking them to physical things. For instance, last month we witnessed the release of Bored Wine Company, a company that offers personalized wine bottles along with every NFT purchase.
Meanwhile, other NFT platforms are using the new market to raise money for charity. One such example is SuperRare, an NFT marketplace that recently launched a collection commemorating Freddie Mercury. All proceeds raised from the auction went to the Mercury Phoenix Trust, a charity fighting against AIDS.
Of course, non-fungible tokens are also a modern way of expressing your admiration for someone. In fact, this is why so many celebrities have joined the trend this year – including Eminem and Doja Cat. Hollywood has also tapped into the NFT market, with movies like Star Trek releasing exclusive collections.
In summary, many people are still skeptical when it comes to NFTs (Joe Rogan included!). However, one thing is certain: the market has undoubtedly surpassed all expectations this year, recording $500 million in trading within a single day.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.