Joe Rogan labels NFTs a ‘crypto currency hustle’

US sports commentator and social media personality Joe Rogan called NFTs a “crypto currency hustle” in recent comments on his podcast.

When asked whether he would buy an NFT by guest Patrick Bet-David, an entrepreneur, Rogan said he was “not interested.” He continued by saying, “It’s a weird hustle, I think it’s like a crypto currency hustle. It doesn’t make any sense to me.”

Admitting that he owns a little crypto himself Rogan said that he found the concept of NFT ownership difficult to grasp.

“Here’s my problem, I can have that photo and I can have it on my phone,” he said, arguing that if he can download a digital artwork and look at it for free there is not much point in shelling out top dollar to own it on the blockchain.

The comments come amid an explosion in the NFT market. Weekly sales volumes peaked above $1bn at the end of August, as hype around digital artworks reached unprecedented levels.

Sales were driven by purchases of collectible digital avatars from the Crypto Punks and Bored Ape Yacht Club projects. Collectively the two art collections have accounted for over $1.9bn in NFT transaction volumes since launch with investors commonly used in place of social media profile pictures by their owners.

While the best selling Crypto Punks have attracted bids worth more than $1m to some outsiders the digital images lack concrete value.

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