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This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed.  This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.

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  2. EP189 Milli Moves: Non-Fungible Tokens (NFTs) Explained

EP189 Milli Moves: Non-Fungible Tokens (NFTs) Explained

Apr 13, 2021

No matter what news or social media you consume, I am certain that you have heard people talking about Non-Fungible Tokens. A non-fungible token (or NFT for short) is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item. Therefore, they are not interchangeable, hence non-fungible. In this episode, I will be explaining why NFTs are being talked about currently, what to be aware of when you hear this term, and who uses NFTs.

Listen in as I describe the difference between an artist owning the copyright of his/her work and a buyer of an NFT. You will learn the benefit of creating an NFT, as well as the benefit of buying one, and why you may want to start collecting NFTs. If you have been hearing about this explosive trend but don’t quite understand what all the chatter is about, this is the episode for you.

“Let’s get back to basics. What are your goals? What is your risk tolerance and time horizon? Do these speculative investments fit into your strategy? If so, proceed with caution, and if you are like the majority of the population, watch with amusement and disbelief as others wade in.” - Tracey Bissett

This Week on Young Money:

  • What NFT stands for and what it is used for.
  • Whether other blockchains can implement their own versions of NFTs.
  • Who can go online and look at NFTs.
  • Whether anyone can stop people from copying digital art.
  • The benefit of creating an NFT.

Key takeaways:

  1. Who can use NFTs.
  2. What an NFT is.
  3. The downside of NFTs.

Resources Mentioned:

 

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