Welcome to episode three of Dose of Degen, where we're going to talk about tokenomics today.

What are tokenomics?

A combination of "token" and "economics". This is how to understand the supply and demand parts of a cryptocurrency.

What does that mean?

When money comes into project, where does it go?

Some of transcript:

This is a little bit more advanced topic of crypto and the NFT space and how things work together with the value of what you're holding or what you're going to buy. And this is just going to be a high-level summary, uh, is what I really tried to do here on the show and go over what are the parts of tokenomics? What does it mean? Give you some examples and that fun stuff.

All right. So let's jump into what the actual word means. If we break up tokenomics, it's really just a combination of token and economics. That's where tokenomics comes from. And in some projects they'll use something else other than tokenomics, maybe like, I dunno, cryptonomics or if its a zombie project might be like zombinomics, whatever somebody wants to do.

That's that's the beauty of crypto. You get to decide what you call things. Um, there's not really a standard, so, if you think about tokenomics, so you break them out into two things. The token is usually a cryptocurrency. Um, and then economics is how we understand the supply and demand parts of that cryptocurrency. That's what tokenomics is.

There are some models that are coming out that are a lot more proven than older ones, but a lot of these models that come out are still experimental. And it's really just going to take time to see which ones work, which ones are better or worse in a bear market or a bull market.

And if you don't know what that means, bear market is usually just when the market is doing terribly bull market is like when everybody's drinking champagne or whatever, the celebratory, uh, drink of choice is.

Anyway. So let's look at a couple of projects. The first one, I'm pretty sure most of you know about is called Bitcoin and what would be the tokenomics of Bitcoin?

RESOURCES

https://coinmarketcap.com/alexandria/article/what-is-tokenomics

https://www.safemoon.education/safemoon-tokenomics

https://opensea.io/collection/boredapeyachtclub

https://www.bitcoin.com/get-started/a-quick-introduction-to-bitcoin/

Welcome to the second episode of Dose of Degen. Today, we are talking about NFTs. And for anyone of you out there that have ever experienced dealing with an NFT, the process of getting it, um, finding out about them, there's a term called FOMO. Fear of missing out the hype is real, but today we're going to talk a little bit about what is an NFT?

And just kind of an overview NFTs go very, very, very deep in the crypto world because they have so many use cases that are going to come out in the future. And right now it's just kind of this NFT bubble. So let's break it down a little bit about what they are. Kind of some examples, how to get one, uh, all that kind of stuff.

So, first thing we'll talk about is. For anyone who loves the terminology - NFT stands for non fungible token. And other than that, just really being fun to say it means that each one is unique. So you're not going to have one NFT that's the same as another. If you think about cryptocurrency, like I think most of us have heard of Bitcoin.

If you get one Bitcoin, that's the same as another Bitcoin. It's going to be equal value. It's the same. If you get a dollar, you go get another dollar. It's going to have the same value. I mean, one, one dollar may be ripped and the other one, not, but they're both usually exchangeable for a dollar. Um, so that is an NFT in a nutshell, as far as the terminology goes, but what's the example of one?

So maybe you'll think of like digital art. So pictures, videos, GIFs, that kind of stuff. And, when you create an NFT, you're going to put this on the blockchain. And I'm trying to really think through these words, because if you don't understand the blockchain, it's hard to understand how this works, but just think of like a picture and you would assign this digital, uh, it's called a signature, like a very unique number, mix of numbers, all this different stuff that's attached to this and empty, which means you are the original owner. It's your NFT. You get to keep it. No one else has one it's anything like it. It's a hundred percent unique to you. And this might be like a virtual avatar, maybe like in a game video game skins, that kind of stuff.

You can have an NFT that is yours only. Maybe you have a character and that NFT has certain qualities and a characteristics. You may be even like a personality trait or something that's, that's unique to that.

They're going to be so many more use cases that happen in the future, but right now that's kind of where things are, where things are leading to, and you might be asking like, well, how else can you use it?

People call an NFT, um, they'll say like, what is the utility of it? Uh, so that could be like giveaways, um, maybe you get like exclusive access to a group of, of people. Uh, maybe like there's a website and you have to own one of these NFTs to get into the website. That's an example. You could have an NFT create a form of passive income.

So maybe an NFT gives you access to so many tokens of a cryptocurrency. And usually they're tradable. You can have non transferable NFTs, which has kind of its own, um, value creation. there's just so many different use cases. I see NFTs in the future being used for maybe like concert tickets.

Um, and you can download this digital ticket. They already scanned them in a lot of places. Like we went to the children's museum in Indianapolis and they have these barcodes that they scan. And that's your ticket. Well, an NFT could be that your unique ticket that no one else can use and it would just get scanned digitally, and that's, that's how it would work.

So that's how I kind of see it. And many other utilities. Um, yeah. So the next part would be, how do you get an NFT? Um, maybe you've heard of a place called OpenSea, maybe you haven't Open

Nick: Welcome to Dose of Degen, where we talk about Web3, crypto and blockchain. Today, we are going to get this show started. I'm going to kick it off with what we're going to be talking about, what this podcast is all about and why I decided to keep it short form instead of long form.

This is Dose of Degen, and I'm happy that you're here today. Thank you for coming along for the ride. Thank you for being here at this first episode of a discussion and questions and answers about what is Web3? What is crypto? All of that fun stuff out there.

And this is just the intro so who knows where this is going to go? I'm excited to get started and, um, I got four questions here that I wanted to ask and then I'm going to answer.

Okay. So the first one is what is Dose of Degen? Well, I kind of covered that at the beginning. It's going to be about anything Web3. So if you're not familiar with Web3, it'll be things like NFTs.

It's going to be about with Web3 security. It'll be about cryptocurrency and what's going on out there in the crypto world, maybe a little bit of investing and definitely blockchain stuff, technology around all of these things.

I'm hoping that I can just take a lot of this information and compress it down to just five to 10 minutes of action packed, not really action packed, but fact-filled five to 10 minutes just to help you learn a little bit more about what is going on out there in the technology world, when it comes to decentralized finance and things like that.

All right. Uh, the second question, what topics are we going to be talking about? Well, I just covered what topics too I pre wrote these down so we'll just have to go with it.

Um, I listed all of those before. Let's just go ahead and go to the next one.

How does this help you? Well, um, believe it or not you have already come in contact with some form of, uh, blockchain work, probably. And if you aren't familiar with what it's going to do, it's going to kind of, and I use this term lightly revolutionize the technology industry.

It is, um, a lot more. Uh, it creates a ledger. So it's a lot more transaction-based and can show things like logging information. So when something happens, you can go back and see how it happened, where it happened and all kinds of fun stuff. So we'll get more into the details, but that's basically. The, the helping factors to let you know, how is this going to affect you?

How is it going to help you get into more of a possible financial situation that could be better for you? How could you take a little bit more risk and put it out there if you're trying to make more money, and all of that fun stuff.

So, uh, hopefully if there's anything along the lines that you want to learn, I'll have a way to, just let you ask your question and get the best answer to you.

I love to research. So if you give me a topic, I don't know about it. I might just go down a rabbit hole, find out too much, but I will find out the information and get the answer back. And then the last question I wrote down here is why should you listen?

Well, you don't have to. But it's my hope that I can share some information with you.

Get some of the knowledge that's in my head out there and help you understand just a little bit more of this crazy crypto world and what we're calling Web3 and the future of finance, the future of technology and how it affects you. So maybe that's a little bit of why, but also just because I'm passionate about this stuff, I love to talk about technology in general, but then you introduce technology with de-centralization, which is like removing the centralized authorities, like Google and all the big tech companies.

So I'm really passionate about just putting it into the ha