ReadTube
Back to Peter H. Diamandis

NFTs 101 with Eric Pulier & Craig Sellars

Peter H. DiamandisMay 28, 20211h 5m
Topics22
Origin of NFTs in January 201511:00Evolution to Metaverse15:00Evolution Like WWW18:38Trillion-Dollar Ecosystem22:11Converging Technologies24:00Rising Billion and Unbanked28:30Practical Adoption Now32:34Distributed Autonomous Life Forms (DAOFs)34:34Extended Social Canvas and Persistence35:04Q&A: Getting into the NFT Artist Market36:30Q&A: NFTs for Retailing Gold/Silver Collectible Coins38:30Q&A: Investing $50K or $5M in Coins/Tokens (2-Year Lockup)41:03Q&A: NFTs for Real Estate/Property Titles41:32Q&A: Industries Adopting NFTs47:00Q&A: Convincing Governments on NFTs/Titles49:00Q&A: NFTs for Emerging DAO Transforming Humanity51:01Q&A: NFTs as Manufactured Scarcity55:00NFTs as Next Evolution58:30Explaining NFTs to a 10-Year-Old59:30Scarcity and Value in Physical vs. Digital Worlds1:00:00NFTs and Intellectual Property: Patents and Trademarks1:02:00Closing and Next Webinar1:04:05
In a Nutshell

Eric Pulier and Craig Sellars originated NFTs in 2015 as state-changing tokens bridging physical and digital worlds, enabling unique, non-fungible representations of real-world items like a warming beer on blockchain for decentralized ownership and identity. Key innovations include Virtual Atomic Digital Matter (VADMs), over 30 million minted by Fortune 500s, powering metaverses, DAOFs (autonomous lifeforms), DeFi, governance, and applications in real estate, healthcare, education, and unbanked economies. NFTs evolve scarcity to digital objects, unlock trillion-dollar value via provenance/timestamps, and drive participatory DAOs, with practical adoption accelerating despite regulatory hurdles.

AI-Generated Notes

These notes were generated by AI and may contain inaccuracies.

In January of 2015, after building the prototype, during lunch with Eric Pulier and Reeve Collins (CEO of Tether then), Eric described tokenizing a beer: take an image of a beer on phone, swipe to bartender to redeem. Discussion started with redeeming digital dollars (fungible), extended to physical items like bottles of water.

The innovation wasn't the digital image (now common in NFT craze), but Eric's idea: if not redeemed in days, beer gets warm—changing state of a token, making it unique. This enables representing finite, non-fungible real-world items on decentralized, peer-to-peer, permissionless blockchain. NFTs conceived 6 years ago by Eric Pulier and Craig Sellars.

We have the ability to change state of a token and make it unique. That is the most important invention we've ever seen.

This is the permeable membrane between virtual and real worlds, dissolving boundaries.

Eric ran DECA, inspired by Dean Kamen (greatest living inventor). Dean challenged: distribute clean drinking water to nations without monetary systems or identity, create microtransaction system. Core problem: identity—to own something (digital goods like physical), you must be somebody. Needs decentralized identity system underpinning NFT movement. World wasn't ready; Eric funded it, Craig worked on it. Now Craig focuses on it at keychain.org.

Sign in to read the full notes

Get access to AI-generated notes, topic timestamps, and more.