Kenn Bosak in a $2M NFT Discussing NFTs (Episode 168)
Today’s interview comes from the Miami Crypto Experience where we had Kenn Bosak in a $2M NFT Discussing NFTs.
Kenn has been a Bitcoiner Since, 2015 and living 100% off Bitcoin since, 2016. He has traveled around the world attending over 200 Blockchain conferences, meet ups and events. He’s here to shill crypto into mass adoption, one nocoiner at a time. Kenn hosts the #NotAnotherBitcoinPodcast™️, a daily fireside chat live stream.
Website – https://kennbosak.com/
YouTube – https://www.youtube.com/user/MrKennbosak
Twitter – @kennethbosak
The following transcript was created using artificial intelligence. There will be some grammatical errors below.
00:00:25:09 – 00:00:32:28
Steven Miller: What’s going on here, our current crew, this is Steven coming to you live from the Miami Crypto Experience. I’m here with Ken Bosack. Ken, thanks for coming with us today.
00:00:33:03 – 00:00:34:19
Ken Bosack: Hey, how goes it? Thanks for having me.
00:00:34:27 – 00:00:55:09
Steven Miller: So, for those that can’t really tell, we are in a Porche right now, but we happen to actually be sitting in the first car turned NFT that I know of at least. We’re in a Porsche 911 Carrera. And it recently has sold at the NFT gala here for just over two mil. Ken, what do you think about the way that we’re currently turning cars into NFTs?
00:00:55:27 – 00:01:33:27
Ken Bosack: You know, I’m kind of, I don’t know how to say like, not surprised, but at the same time surprised, you know what I mean? Like, I’ve been in this space since 2015, so to see it take that long to 2020 is like, about time, but also it came out of nowhere. So, it’s like, Whoa, already? So, to see like the way mainstream has taken the technology that we’ve memed with breeding cats to selling Porsche 911’s for two million plus, it’s pretty sublime. You know, it’s like this is where it’s supposed to be. This is where the space is that.
00:01:33:29 – 00:01:54:09
Steven Miller: It feels really good, man. I mean, the more that I’m thinking about it, the more I’m saying, you know, the application of NFT to this current market and the world around us, it’s absolutely incredible. But speaking of the incredible, what do you think of this entire experience that we’ve had out here at Miami Crypto Experience? Give me your take on, you know, the vibe, everybody that you’ve met here, you know, what’s the overall feel to you?
00:01:55:06 – 00:02:52:16
Ken Bosack: To me, I feel like people get it, you know? For the, you know, few years I’ve been in it, it’s always felt like people just were fighting to grasp the concept, you know? Trying to understand why is this for me? Why is this for me? You know? Because they have a bank, they have a credit card, you know, Bitcoin’s, you know why unbank it? Why me? But with NFTs, it’s like they get it immediately. It’s not why not me? Why not me? Why shouldn’t I make my own NFT? Why shouldn’t I buy and NFT? So, to see that, you know, paradigm shift of I don’t understand what’s going on to I can’t believe I haven’t been involved in this this whole time. The mainstream comfortability stepping into the roles now and at the adoption, I think, you know, it’s only going to get more and more mainstream. This is just that beta test. Fifty-six K dial up, you know, Internet, AOL’s intranet, I think that’s where we’re at, but where we’re going, it’s unpredictable.
00:02:53:09 – 00:03:35:07
Steven Miller: I mean, look, we’ve, had our eyes open to a lot here across the last couple of days. And I mean frankly, you opened my eyes a lot to what the possibilities behind NFTs have been, because the sessions that you led were deeply like, insightful in the perspective of how an NFT comes into life. I mean, for those that don’t know at home, Ken’s entire community has really come together and rallied behind the NFTs that he’s put out and there’s a lot of love for it. And again, the community itself is love based and I’ve got a big appreciation for that as well. But if you could give our listeners a little bit more insight into what an NFT really is in your perspective, but also how you go about creating.
00:03:35:09 – 00:03:37:26
Ken Bosack: Let me put my seatbelt on for safety.
00:03:37:28 – 00:03:38:13
Steven Miller: Okay.
00:03:38:15 – 00:03:40:04
Ken Bosack: And we’re about to get into it.
00:03:40:06 – 00:03:41:27
Steven Miller: I was going to say, is this a bumpy road?
00:03:42:13 – 00:04:25:06
Ken Bosack: It is. It’s a bumpy road, but it’s going to be a smooth ride. So, an NFT is sort of a non-fungible, you know, token. So, Bitcoin, one, Bitcoin is worth one Bitcoin, but if you were to take similar to one dollar’s worth one dollar, right? But if you were to take that one dollar, draw a picture on the back of it as Banksy and then listed for sale, what would that one dollar be worth? How many one dollars without a piece of Banksy art on it could you get for that one dollar bill with Banksy art on it? So, that one-dollar bill is not worth another one-dollar bill, it’s no longer fungible, something has been done to that dollar bill.
00:04:25:18 – 00:05:02:00
Ken Bosack: So, with NFTs, we’re able to take these tokens that are equal to each other up until the point we put our own little art on it. And that’s where I think it’s going to get really interesting to see people take a piece of money or currency and create their own IOUs on top of it, you know? This is a piece of Ethereum that I made a Crypto kitty out of. This is what I want for it. It’s like, Oh, I took a dollar, I drew a cat on it, and I want 20 of your dollars without a cat on it for the dollars that has my cat on it. And I think we’re seeing that gamification be played out, especially with the youth. There was tons of high school kids here and they get it.
00:05:02:09 – 00:05:28:17
Ken Bosack: Kids know if they Google Fortnight Skin, right, click download, that doesn’t give them the ability to use that skin in the game. They know they have to buy it. They have to own the digital item, not just possess it in a downloadable file. So, buying an NFT rather than right click downloading the image behind the NFT, this is already something that the youth get and they’re learning how to play with themselves.
00:05:29:23 – 00:05:41:23
Steven Miller: I was going to say I don’t want to take that the end of your statement to be the the big take away, but the more that we get people to be involved in this space, the bigger and deeper the impact is going to be.
00:05:41:29 – 00:05:42:21
Ken Bosack: Absolutely.
00:05:42:23 – 00:06:17:13
Steven Miller: And I think that when you look at exactly what you just said, it comes down to the comparison of what we’re sitting in right now, right? We’re sitting in a 911 Carrera. And in every single state in the US, you have to have a title, right? NFTs, effectively, in my opinion, are the title to the artwork. They are the title to the actual, you know, thing that you’re tying it to, because it doesn’t necessarily need to be artwork. It can be a collectible item, it can be a car, it can be a bat, because I think next week Ethernity’s even doing one that’s tied to a bat project with Fernando, Jr..
00:06:18:16 – 00:06:19:01
Ken Bosack: That’s awesome.
00:06:19:03 – 00:06:21:20
Steven Miller: I mean, it’s so inspiring where we’re taking it.
00:06:21:22 – 00:06:22:07
Ken Bosack: Yep.
00:06:22:09 – 00:06:44:06
Steven Miller: So, inside of like, the inspirational element here, because I think to me, another really cool part about you that I want to make sure every single person in our community gets an understanding, too, if they don’t have exposure to yours, is the story behind your community. So, I was curious if you’d be willing to share a little bit of a quick background with our audience and tell a little bit of the story of where you came from and how it brought you to where you are now.
00:06:44:24 – 00:07:58:10
Ken Bosack: Yeah, no problem. In 2015, I, you know, was investing in cannabis stocks because they kind of hit TD Ameritrade and I just thought it was really interesting, you know? I didn’t know what I was doing. I just saw like, Wait, I could buy weed stocks? This is silly. I was like, Alright, I’ll buy it. I never bought a stock before that in my life, but there was cannabis stocks on the market, legit like companies with agriculture and, you know, patents, all kinds of farming and distributions and they had government approval for like dispensaries. And so, I invested in some cannabis stocks in 2015 and they did fairly well pretty quickly out of nowhere. And then Snapchat had their IPO. And I did not know what an accredited investor was, but I sold some stocks, I got some money together and I wanted to invest in the IPO. And I was told, You’re not an accredited investor, you’re not allowed to partake in this. I wasn’t even mad. I thought that was fine, you know? It goes public. It was four dollars in the IPO. It went public for over $24 or 20 something dollars. And then I bought because I could. It immediately crashed to $8.
00:07:59:04 – 00:08:59:28
Ken Bosack: I realized that the people that bought before me would’ve still doubled up their money because they could afford to shoot at the market on everybody that knew they could only buy it from the public. I sold everything. I closed my bank account, I canceled all my cards, and I was this close to going into gold and silver. I was going to use a gold debit card to buy coffee at Starbucks with gold because it’s possible. And one of my friends said, “Hey, I know you had a problem with the IPO. I know you have, you know, you’re not an accredited investor. You don’t have a broker and all this stuff and you’re trying to get in the money. Have you heard of Ethereum? They’re doing this IPO and there’s no KYC.” And I was just like immediately turned on just to the permissionlessness of it. I didn’t really do too much research. I watched the Teletalk about the Internet of Things, and then Andreas talked about the Internet of Money. And those two conversations, Internet of Things, Internet of Money, wait, the Internet of Money is the Internet of Things, they’re the same thing.
00:09:00:28 – 00:10:19:07
Ken Bosack: And at that point in 2016, I decided to go all in and live completely off of crypto, receiving my paychecks directly in Crypto, not Fiat. I use BitWage. So, with BitWage routing number, account number. You can work at McDonald’s and get paid in Bitcoin. So, every week I got my paycheck in Bitcoin in 2016, never stopped. Decided you know, maybe make content in the sense of two things. People kept asking the same questions over and over and over again, What is this? How do I do that? And there was like three YouTubers in 2015 and 2016 talking about Bitcoin, so I was like fine, I’ll make some videos. And then number two, I really want to talk to the thought leaders in this space. How do I socially engineer that situation to where they want to talk to me as much as I want to talk to them? Alright, maybe I should start a podcast, see how that works, you know, see if they want to come on my podcast. And I started it and within 30 days, I interviewed Andreas Antonopoulos, Ryan X. Charles, Charlie Lee, all these amazing thought leaders, just because I started a podcast 30 days ago before I started asking them. They wanted to talk to me and then after that, I got really immersed in the space making friends through those conversations.
00:10:19:21 – 00:11:27:27
Ken Bosack: I started going to conferences and traveling the world. I’ve been to over 300 Blockchain or Crypto events period in the past four years and it got to the point I was going to two a week. I’ve been to almost every country I can name and it’s just been an amazing journey meeting so many people through that podcast, through the traveling that it doesn’t feel so much as like an Internet only relationship that I have with my community. I’ve built it in person, you know, traveling. And a lot of them traveled too, they went to the events as speakers or they were just roadies like me, as enthusiast’s, you know? Just going to all these, you know, Blockchain events like chess shows or something back in the day, you know? We were just roadies and groupies for the Blockchain experience and building that relationship with people over the years, you know, being able to help them, you know, with like, you know, doing their own research, giving them the, Hey, I know this about that or that about this. Do you know about that? And it was really like bartering knowledge back and forth, right? Throughout, like your experiences with these people and then, you know, there was the bear market.
00:11:27:29 – 00:12:10:10
Ken Bosack: A lot of people took a hit and my community really came together. And it was almost like everybody put a little bit in their hat when it came around time to pass it for each person in the community that, you know, clearly could have used that help. We all came together time after time after time after time. And it just turned into this like, really supportive circle of people that, you know, would support people. And it was weird because we all started to know that notice that if we help somebody that was in a real position of needing help and we helped them so much that they didn’t need help anymore, they got to a place so much faster that they could help other people.
00:12:10:21 – 00:13:00:24
Ken Bosack: So, we would just like 99 percent attack people that needed help, like, Oh, you need help? Ninety-nine percent attack, overdue. We overdid it and we would help them so much that they had excess help to give back out. And we just kept doing it and doing it and doing it to the point like there wasn’t much of us left in the community that needed that attention, that help. So, we started outsourcing and finding people. And with NFTs, we found that artists need that 99 percent attack now. So, my community has been 99 percent attacking with love artists and just trying to get like, as much attention, as much awareness around the concept of social currency created by artists. You know, government currency is just a piece of paper with government approved art. Well, what about social approved art, and that’s the currency we’re using.
00:13:00:26 – 00:13:18:13
Steven Miller: And see, I love that man. I mean, one of the things that you told me about is like the fact that your community had adopted so heavily into just a phrase that you brought up, right? In one of your very first videos and it just kind of became the staple of that community and almost in some ways like a rallying cry.
00:13:18:15 – 00:13:19:00
Ken Bosack: Yeah.
00:13:19:02 – 00:13:48:15
Steven Miller: You know? And I think that a lot of these communities need that. I mean, we sign off every single time we do one of these videos or whenever we do one of our podcast episodes or Clubhouse rooms, with and Stay Crypto Current. And I think that truth be told, back when you started doing these videos and introducing your rallying cry, it may have inspired a lot more of these groups that followed that are trying to take on a similar educational basis.
00:13:48:25 – 00:13:49:12
Ken Bosack: Yep, that’s the goal.
00:13:49:14 – 00:14:13:08
Steven Miller: To not necessarily mirror or, you know, go down that mimicking road, but professionalize around a slogan. And I think that’s almost another thing that’s giving more credibility to the space, because if it’s just a bunch of guys in a room having a conversation, it’s not going to lend to the fact that there’s credibility behind it.
00:14:13:12 – 00:14:14:08
Ken Bosack: Yeah.
00:14:14:10 – 00:14:27:29
Steven Miller: We’re so used to establishing credibility through things like, you know, setting up a firm record or, you know, building up a gigantic base, but these little things add up over time.
00:14:28:01 – 00:14:28:19
Ken Bosack: Yeah.
00:14:28:21 – 00:14:52:10
Steven Miller: And so, because yours is a symbol of love within the group, I think it’s just an incredible piece of your story and I love to see the way, you know, it’s evolving. So, I really do appreciate that about you. I appreciate all the time you took with us today. I think it’s been a really enlightening conversation, so, I hope that all of you at home have enjoyed it. I know I’ve enjoyed feeling like I’m probably going to get arrested at any moment, being in someone else’s car.
00:14:52:12 – 00:14:54:08
Ken Bosack: Yeah, we did not have permission to be in this car right now.
00:14:54:10 – 00:15:02:29
Steven Miller: Yeah, this is a two-million-dollar Porsche and I feel like I’m a little bit in the wrong, but it also feels really right because I’m here with the original Bro Bro, Ken Bosack.
00:15:03:01 – 00:15:04:06
Ken Bosack: Brosack. I like it.
00:15:04:08 – 00:15:04:23
Steven Miller: Brosack.
00:15:04:25 – 00:15:07:06
Ken Bosack: I like it. I might have to get that changed.
00:15:07:08 – 00:15:09:21
Steven Miller: I was about to say man get that into an NFT.
00:15:09:28 – 00:15:11:23
Ken Bosack: Yep. Ken Brozak coming soon.
00:15:12:14 – 00:15:18:10
Steven Miller: Aweome guys. Well, hey, this has been another one from the Miami Crypto experience. I’m Steven Miller. It’s been real, Stay Crypto Current.
00:15:18:12 – 00:15:19:11
Ken Bosack: Every day.
Crypto Current will be guiding all of you who are new to the cryptocurrency world to becoming a cryptocurrency and blockchain expert. Crypto Current was founded to give access to information to everyone on current events occurring in cryptocurrency and blockchain in a digestible way. Since its creation, we have created content that impacted thousands of people through its podcast, blog, and social media.