Hugo McDonaugh - Exploring the world of NFTs

When I left Downing Street, I took a small stake in a company called Cryptograph - a leader in the Non Fungible Tokens (NFT) space and more broadly digital art as a whole.

It was founded by today’s guest, Hugo, who is one of the UK's pioneers of NFTs, having got interested in it in 2017.

NFTs are a brand new technology and the industry is fast-moving and complicated - it's widely discussed in tech circles but is yet to really enter the mainstream. In fact, it's never yet been mentioned in the House of Commons. 

I find them beautiful and compelling- if you haven’t seen an NFT before, have a google of Cryptopunks and Lava Labs and look at those pieces of art  - some of these are trading for millions of pounds and, though they look like simple JPEGs at first glance,  they have grown on me over time. 

The purpose of today’s episode is to explore exactly what NFTs are with one of the UK’s experts - with me asking the stupid questions, so you don’t have to!

And as you’ll learn in this episode, NFTs are a whole lot more than meets the eye- so to use Hugo’s words, let’s go down the rabbit hole...