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Transcripts for CNN Erin Burnett OutFront 20211230 00:51:00

the new york times. eric, you know all about this stuff. so thank you for being with us tonight. let s start with the basics. you just heard kate bennet talking about melania trump s nft. what is the difference between an nft and krcryptocurrency and for example, bitcoin or stable coin? they are very different but i think people get very confused. i mean, they are both traded on the blockchain and it is a way to have a an object that is unique and traded and and that you can buy. the non-fungible token is the nft, the artwork. and the fungible token is the cryptocurrency. but basically, they are both ways to electronically transfer things of value. and also, the thing about it is you can do it directly. there is no art broker involved that takes a commission and that s one of the reasons this is attractive to celebrities and others is no one s taking commission of their profits. it directly is going into their pockets. in a sense, if it all works out and if the right safety

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