In a recent episode of his show The Joe Rogan Experience, Joe Rogan told a story about a friend of his who lost a lot of money investing in cryptocurrencies. In his opinion, the prospect of “getting rich quick” is what attracts people to crypto, which is why they invest fiat in digital assets. Despite the hype around bitcoin, this crypto asset is unlikely to ever become a full-fledged replacement for conventional money, Rogan believes.
He also called the concept of digital ownership, especially the expensive NFTs from the Bored Ape Yacht Club's (BAYC) “bored ape” collection, strange. According to the comedian, he found it difficult to understand how people can pay huge sums of money for digital items that are no more real than a common screenshot.
To explanations that NFTs are a form of digital ownership, similar to ownership of a physical object such as a car, Rogan responded that NFTs do not have the same physical value as real assets. Therefore, he questioned the value of these digital items, especially after the fall in the value of many NFTs, including BAYC.
That said, Rogan admitted that bitcoin may have more value than NFTs. The comedian compared the first cryptocurrency to the early Internet, which also faced resistance from authorities and people's distrust at first, but now almost everyone uses it. Bitcoin is starting to gain acceptance and yet, investing in it can be risky, Rogan said. He also expressed concerns about central bank digital currencies (CBDCs).
Previously, Joe Rogan had a different opinion about NFT - he envisioned that in the future, each company would issue its own collectible tokens so that customers could use them to buy products.