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Joe Rogan Burns Crypto, NFTs: “I Don’t Even Know What It Is”

Joe Rogan Burns Crypto, NFTs: “I Don’t Even Know What It Is”

DailyCoinDailyCoin2024/10/11 15:24
By:DailyCoin
  • Global NFT sales have not recovered.
  • Joe Rogan is baffled over the appeal of crypto and NFTs.
  • NFTs offer more than artwork.

Joe Rogan’s podcast, The Joe Rogan Experience (JRE), continues to be one of the most popular and influential shows, with standout episodes like his 2018 interview with Elon Musk amassing 69 million views.

In a recent episode with conservationist Paul Rosolie, Rogan openly expressed his skepticism about Bitcoin and NFTs, sparking pushback from the crypto community.

Joe Rogan Is Not a Crypto Fan

In episode #2209 of The JRE, Rogan and Rosolie explored the importance of meaningful work, which soon transitioned into a discussion about money. Both agreed that they don’t view Bitcoin or NFTs as legitimate investments, expressing skepticism about their long-term value.

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Rogan launched into a critique of digital assets, calling the idea of spending “real money” on what he sees as “weird f*cking imaginary money” absurd. 

The discussion then turned to NFTs, with the pair reflecting on the 2021 boom sparked by Beeple’s $69 million NFT sale , which propelled NFTs into the mainstream spotlight. However, they also noted how the market soon crashed after the initial frenzy.

Rogan revealed that he has been offered crypto and NFT endorsement deals, which he turned down, admitting, “I don’t even know what it is.” 

Commenting on Bored Apes , Rogan dismissed the NFT collection as “a sh*t cartoon,” arguing with his producer, Jamie Vernon, that digital art, which can be easily screenshotted, lacks the intrinsic value of physical art. Illustrating this point, Rogan stated that the original Mona Lisa is more valuable than an image of it.

NFTs Are More Than Artwork

Digital asset advocates swiftly rebutted Rogan and Rosolie’s misconceptions. The YouTube channel Altcoin Daily countered by explaining that digital ownership holds real value, pointing out that while someone can screenshot a public Bitcoin address, this doesn’t give them ownership of the Bitcoin itself.

Altcoin Daily also argued that Rogan’s take missed a crucial point, explaining that “what Bitcoin did for money, NFTs are doing for identity and community” as younger generations increasingly embrace digitalization.

Steve Kaczynski, coauthor of The Everything Token, agreed with Rogan’s criticism of the NFT bubble. However, he stated that NFTs go beyond artwork , serving practical purposes in ticketing, gaming, loyalty programs, combating AI fakes, and proof of ownership.

Even so, global weekly NFT sales from September 30 to October 6 totaled $84.7 million, down a staggering 96% from the August 2021 high, signaling that the hype around NFTs has significantly faded and shows little sign of recovering.

On the Flipside

  • Joe Rogan has previously voiced support for Bitcoin .
  • NFT advocate Mark Cuban recently sold some of his NFT portfolio.

Why This Matters

Joe Rogan’s rejection of crypto and NFTs reflects the dominant global perspective and highlights the ongoing challenges to widespread adoption.

Telegram supports NFTs with a new gift conversion feature.
Telegram CEO Teases NFT Conversion Feature for Gifts

Paolo Ardoino welcomes a full audit of Tether.
Tether CEO Open to Big Four Audit in Transparency Drive

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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