June 2, 2022

A Look at the First Black-Owned NFT Marketplace

Building equity into the blockchain economy


Nora and Scott chat with Rob Richardson, the founder of Disrupt Art, a curated NFT marketplace that aims to curate an interactive space for artists, collectors, and activists to create NFTs of their work. Disrupt Art is the first black-owned NFT marketplace, and also the first full-scale marketplace built on the Flow Blockchain. Rob talks about why he created Disrupt Art, and why he believes that NFTs are a generational wealth opportunity and how equity can be built into the blockchain economy. Presented by Grayscale.

 

Hosts: Nora Ali & Scott Rogowsky

Producer: Bella Hutchins 

Video Editors: Mckenzie Marshall and Christie Muldoon

Production, Mixing & Sound Design: Daniel Markus

Music: Daniel Markus & Breakmaster Cylinder

Fact Checker: Holly Van Leuven 

Senior Producer: Katherine Milsop

VP, Head of Multimedia: Sarah Singer 

 

Full transcript for this episode below. 

Transcript

Nora Ali: From Morning Brew, this is Business Casual, the podcast that reveals the unexpected business story behind everything. I'm Nora Ali.

Scott Rogowsky: And I'm Scott Rogowsky. Nora and I are here for your ears, bringing you conversations with creators, thinkers, and innovators who can tell us what it all means and why we should care. Now let's get down to business. Nora and I are here to discuss...what today? What are we getting into?

Nora Ali: It's one of our favorite topics.

Scott Rogowsky: Oh yeah.

Nora Ali: TikTok and NFTs. No TikTok this time.

Scott Rogowsky: NFT talk.

Nora Ali: Every time we chat about NFTs, Scott, we ask each other, do you dabble? Have you bought an NFT? Have you minted any NFTs? And it's always, no, we need to catch up. Yeah?

Scott Rogowsky: I know. How could we be hosting a business podcast that's now primarily a NFT podcast and not have any holdings? Or maybe that keeps us independent, right? It keeps us unbiased?

Nora Ali: Sure.

Scott Rogowsky: But no, we are, I don't know. Look, as we learn from our conversation only about 1% of Americans own an NFT, not even...

Nora Ali: Yeah. Less than 1%.

Scott Rogowsky: ...1%. Less than 1%. So we're certainly in the majority still, but are you getting closer to pulling the trigger now, as you have more conversations?

Nora Ali: I will say, definitely. I wrote it literally on my to-do list this morning. Let me tell you what it says. It says, "Dabble in NFTs." I literally put that on my to-do list.

Scott Rogowsky: Dabble.

Nora Ali: Because when we do the research for these guests and especially for platforms like Disrupt Art, which we'll get into, it makes it feel quite accessible. It's like signing up for a newsletter. If you can sign up for Morning Brew, you can sign up at Disrupt Art and take a look at these marketplaces and get involved.

Scott Rogowsky: Get plugged.

Nora Ali: So yes, I'm getting closer. Are you getting closer?

Scott Rogowsky: I have crypto. I took that first step.

Nora Ali: Yes, same. Yeah.

Scott Rogowsky: I almost made my NFT purchase or minted my NFT last March, but other stuff happened and got in the way, but what I do like about the NFT world is the idea that artists get paid commission on secondary sales, that there is this more equitable ownership element for creators and artists. Because look, I know the traditional world of media and yeah, I've signed deals where you hand over sometimes, if not 50%, sometimes even more—60% of your IP to a producing partner or someone else or their studio, and then they buy it and then they run with it and you don't see royalties.

Nora Ali: Totally.

Scott Rogowsky: So yeah, it is nice that there is this baked-in element of creators keeping more of the pie for themselves. So that I want to support. I just, I'm kind of in this moment where like, do I want to accumulate more stuff, even if it's virtual and digital? I'm trying to shed things right now in my life, but that's just from a personal...

Nora Ali: Maybe shed the physical goods and add more digital goods to your arsenal. Because that's the future.

Scott Rogowsky: Shed the physical form as well. Just...I want to upload myself to the matrix. Okay.

Nora Ali: Yeah, exactly. Well, today's conversation was super enlightening. I enjoyed it. Both of us enjoyed it. We're talking to Rob Richardson, the founder of Disrupt Art, which is the first Black-owned NFT marketplace that allows artists, collectors, and activists to mint, buy, and sell NFTs. Disrupt Art is focused on bringing equity to blockchain technology by increasing accessibility to the NFT community. And it also works to ensure that diverse creators are properly compensated, by ensuring that they earn a percentage of every secondary sale of their work. We'll get to our conversation with Rob after this quick break.

Scott Rogowsky: Rob, how are you doing today?

Rob Richardson: I'm doing well. How about yourself?

Scott Rogowsky: I'm all right. Are you in Cincinnati?

Rob Richardson: I am in Cincinnati right now, in the Halfway Studio, which is also my house.

Nora Ali: Oh, amazing.

Scott Rogowsky: You are Cinci to the core, we're learning. And I do want to get into your background, because you've had quite the varied career here.

Rob Richardson: I've lived many different lives. This is true.

Scott Rogowsky: Through education, law, media. Yeah. Look, you went to the University of Cincinnati, you served as the youngest-ever chairman of the board at the University of Cincinnati, representing labor unions, consumers, underrepresented voices at a Cincinnati law firm. Tell us about these experiences early on, and how they prepared you for this more recent transition into your entrepreneurship.

Rob Richardson: I get that question almost all the time. The question I used to get before I became an entrepreneur is, why did you go from engineering to law? Because I have an engineering undergrad, I went to law school. And my why, in terms of my mission, my passion in life, has always been the same. It's always been about how do I change the constructs and the system to help more people and empower more people.

That's important to me because of my personal story. So I struggled in school till about the eighth grade. I was diagnosed with a learning difference, and also had teachers that weren't culturally confident. So that of course affects your confidence, but I just planted a seed, had the manifestation, whatever you want to call it. I told my teacher, "Look, I want to achieve all these things." And she basically told me all the reasons why I was going to fail, why college wasn't meant for everybody.

And I'm literally here in tears and crushed, because this is an eighth grader just spilling out his heart and thinking that he has an advocate here. But I had a much better conversation with my mother, who sat me down and said, "Look, Rob, you never have to be defined by anyone's low or narrow expectations of you. You define yourself, for yourself, by yourself." So that's always been my mantra, and I've had success. You've talked about my career earlier, but I know that many others—had I ended up very differently, had I not had the support system that I had, if I didn't have parents that understood how to fight back and navigate the teachers and the systems that told me that there was no way I could go to college, that argued over and over again how I was going to fail. Most parents, a lot of parents end up giving up, and don't know how to, or have the resources or just have the mindset to fight back.

So my goal in life has always been to make sure that I do everything possible to make sure others have the same opportunity that I have been afforded. So that started off with public service. I had always seen my eventual route being something with education and/or public service. So that explained a lot of my background, but I did run for office a couple times. And so I had to figure out a way to pivot after that. I didn't want to just go back to just being a lawyer—nothing wrong with that. But I got into media and got into podcasting and really making sure that I was telling stories that were about empowerment, but particularly with diverse communities, because the media shapes narratives, which actually implants people's beliefs and perceptions, which is very powerful.

So I wanted to use the medium of the media and that's why we started Disruption Now podcasts. Through that, I began to have events connecting Black and brown entrepreneurs and creators and through one of our events called the Art and Equity Summit, one of the topics that we decided to approach based upon input was what was introduced to me as crypto art, which is NFTs. I went down the rabbit hole of looking at Web3, and not only did I want to make sure I had knowledge of the space, I wanted to make sure more people had knowledge of the space, more diverse communities had knowledge of the space. And also I thought it was important to actually have a space that we owned.

It's not enough just to go on to others' platforms and hope that they are inclusive and hope that they tell our story right. Because what's going to happen is they're not going to, if you're not part of the ownership, right? You don't get to control the narrative. So this the reason why we started Disrupt Art, to revolutionize art, fashion, film, and music. And I believe we are really standing at one of the most pivotal moments in history, and I want to do everything in my power, I should say, to evangelize this to people, to let them know we need to be involved in this. We need to be aware of this. We need to understand it, because it's not overly complicated and technical like people make it out to be. And we want to be here as the innovators, not as those who are the consumers, when this becomes all the way mainstream, when everybody does Web3, when NFTs, when it's called something else other than NFTs. But then we can't necessarily profit and be a part of the beginning stages of building this.

Nora Ali: So Rob, it's clear you've had a very varied career, but there's one thread that's common: You don't let other people define what you should be, what you should be doing. And you're trying to disrupt systems and constructs that exist. So before we talk a little bit more about Disrupt Art, let's go back to Disruption Now Media, because that's essentially what you're trying to do, is disrupt the constructs around Black and brown voices. So what is the mission of that organization and that system?

Rob Richardson: To do just that, to make sure that we are disrupting what I'll call common narratives and constructs, right? Making sure that we're using the power of the media and connection to improve opportunities for Black and brown communities, making sure that we are changing the narrative about what it means to be Black. Like does it mean that if you talk a certain way that you're not Black? Does it mean that in order to be successful, does that just mean getting a job and being a secure job? No, to me it means making sure that we have multiple streams of income, that we understand how to build together and that we reject a lot of the concepts and the defaults of the past.

I'll give you one example that I point to often. There's the saying, and you know, it's not just the Black community, many people of color have this saying: We have to work twice as hard to get half as much. I don't accept that default. I say, we work twice as hard and expect twice and two, three times as much as everybody else does. Learning to make sure that we reject some of these narratives and these stories that have been told to us and have been put there to us in a subconscious way, I want to make sure we disrupt and that we're aware of it. And we can see, there are stories of people that are achieving, that are overcoming this and not accepting the default. And they're not the exception, they are the possibility, if we understand how to change our mindset and how to make sure we focus on these stories. And everything doesn't have to be focused on, though there are real struggles, we should also focus on how are we going to improve things? How are we moving things forward and how people have overcome and moved things forward in the past under much tougher circumstances.

Scott Rogowsky: Are these constructs and narratives, are these coming from within the Black and brown communities themselves? Are they coming from the majority mainstream white society? Where do you see these constructs? I'm curious where are they coming from?

Rob Richardson: The answer is, it's both. There's a lot of science around this, right? The people that you hang around actually rewire your brain. So if you hang around people that have a perspective, even if you think you don't have that perspective, you spend a lot of time with people, eventually you will be groomed to think that way. And so when you're not a majority in a society, when things are pushed down, even when they're not in your interest, you're going to absorb some of those things in a subconscious manner, unless you combat it on a regular basis, and you think about it on a regular basis. So the answer is yes and no. These things have been passed down over years and years because it was literally also part of the truth, right? You had to figure out how you worked this hard so that you could at least make it.

And so that has been definitely passed down through the years. There are things that we do have to go through. We do have to obviously worry about things like police brutality and things like that that others may not have to, but we can also view it from the fact that, okay, we also have more opportunities than we did now, and we can't always view it from the place of fear, but maybe view it from the place of, okay, these are things we have to be aware of, but we're also going to not let it limit us. So the answer is, it's both, it's both eternal and external, but the only thing you can control in this world is your thoughts. That's it.

Nora Ali: Ooh, that's deep. And I guess one way to try to move away and past the default. The hope is through NFTs and blockchain technology. So let's take a very quick break, more on that and more with Rob when we get back.

Rob, we've talked about your transition from law to entrepreneurship, to the world of Web3 and blockchain technology, which we imagine is a pretty steep learning curve. You gotta learn the intricacies of this relatively new tech and systems. What was that process for you? Well, how did you start to learn the ins and outs of Web3 and blockchain?

Rob Richardson: Well, it's an ongoing process. Anybody that tells you they're experts in NFTs or Web3 is lying to you and lying to themselves. And so my approach to this is just to be humble with it and go in and take the time to learn. So I went into what was back then Clubhouse spaces, which is not a thing as much anymore. And now they're Twitter spaces. And I spent a lot of time really just going to the university of YouTube and looking and reading and figuring out resources, and then listening and really trying to understand the technology, but more importantly, understanding the overall picture of what it is and why it's so transformational, because people don't really understand the technology of email if we're honest, right? People just know I send out an email...

Nora Ali: You just trust it, yeah.

Rob Richardson: Right, right. You trust it. I know that when I send this, the information gets there. And so my goal with NFTs and I've listened to a lot of people like Gary V and many others, and I've come to my own way of figuring out, how do I explain this to people in a way that they don't have to be intimidated? And it's not like they're just focused on NFT. So I try to figure out a way to build analogy for people. That's also been very helpful for me because I think in terms of analogies, in terms of metaphors, and most people do too.

Scott Rogowsky: We've had several conversations on this podcast with entrepreneurs in the NFT space. And a thought that occurred to me as someone who didn't go to law school, but comes from a family of lawyers, is that there is a very foundational element to all of this NFT talk that relies on smart contracts, legal terms, and a legal construct. You have this law background yourself. How helpful has that been as you transition? Now, are you one of the few lawyers who are actually at the forefront of NFT? There are a lot of people we talk to, I don't think they have the legal background that you do.

Rob Richardson: Probably I'm one of the few; I'm also an engineer. I'm probably one of the very few that has both of those.

Scott Rogowsky: There you go.

Rob Richardson: So I use both perspectives in this, as an engineer, obviously thinking about this in terms of systems and engineering. But with law, I do come at this from a point of view of understanding the space and understanding how to approach it. The worry I have in the space is that people view this as a new space with no rules. Yes and no. The rules in the universe also apply in the metaverse. So if you go out here and copy somebody's artwork and they find you, they can still sue you for copyright. That's still against the law. You still can't take somebody's property and do whatever with it. You will be met by the SCC if they find you out. Right?

Rob Richardson: So these are things that I definitely think about a lot. And I've seen a lot of people that don't think about that. They just think about, "Let's figure out the quickest way to make money." And some of that, you can't be risk averse, and I embrace risk, but I also understand what the risks are and figure out how to navigate them, because this is another Black thing probably, but I'm productively paranoid. You can't let paranoia paralyze you, but you need to be a little bit paranoid with how you approach things. Because I'm like, "If I do this wrong, I'm Black, they're coming after me."

Nora Ali: I guess part of the risk aversion for people getting into the NFT space is just, it might feel overwhelming and confusing because there's so much, and there's so much to learn. But if you go to Disrupt Art, the website, it's disrupt.art for our listeners. It's very welcoming and there's education right up front. There's a beautiful FAQ page. You can discover creators. And it feels like, it's been called like Etsy, Etsy for NFTs.

Rob Richardson: Yes.

Nora Ali: So walk us through what the experience is like on Disrupt Art, both from the creator side and from the buyer side.

Rob Richardson: So with disrupt.art, all you would do is you log on to the website, you log in, create a user profile like you would for any social media profile. And then you would do this thing that's new to everybody. You would hit connect wallet. And ours is much easier than MetaMask, some of the other ones. You would connect wallet and you would put in the same email that you just created for your user profile. Then it would send you a code and boom, you have a digital wallet, that's it. And then all of your NFTs will collect it. You have that wallet, we have no control over it. That's the power of this, it's decentralization. And you could just hit fund wallet, use a credit card. You will buy some flow, which is basically money, we're on a Flow blockchain, and purchase some of the great art we have. And we have a lot with fashion, film, and music.

If you're a creator, you would just take the next step to apply as a creator and just show us some of your work. We're curated, but if it aligns with the quality that we think our site should have, we will approve you.

The other opportunity I would say is for brands and fashion brands and people in film and music, because what we also do that we pride ourself on is we use the power of utility that is real-world use combined with NFTs. A really easy way to understand this is the NFL for the Super Bowl made its ticket in NFT. Why would they do that? So normally they would just sell the ticket, scalpers come in and then resell it for tens of thousands of dollars. Now they can make the ticket in NFT that's traceable. Every time it sells, they get money coming back to them.

Okay. So think of a musician. Let's say Prince was still around and wanted to create an NFT community for Prince fans. They had a Purple Rain club. Everybody in the Purple Rain club gets a chance to maybe be on a private Discord with them. Maybe they get a chance to help him make or produce music. Maybe they get special VIP of this, that only the Purple Rain fan club gets. How much do you think that NFT would be worth for the NFTs for five or 10,000? They'd be worth a lot. The initial people to get in would really want to get in, a lot would stay in. Some might sell it for a hundred times the value, because that would go way, way up.

Musicians now have the chance to do this in a way that they couldn't. And they also have a way to disrupt the whole ticketing online and how Live Nation and everything takes so much money from them. They can have more power, they can have more connection with their fans, and they can also together make more money with their fans.

So I want people to think very wide open about this space and don't be intimidated. It's a process that you can learn. There is a 12-year-old, she might be a 13-year-old. Her name is Nyla Hayes. She's made about $8 million. She's a talented artist, but she's just had long [necks/nets?] of people and just got her art out there and said, she's going to learn how to do NFT. It's not hard to do NFT. It's very, very easy to upload an NFT. The harder part is making sure you have a creative vision that you know how to market to your community. And you say why your vision is different. If you can do that, you can be successful, no different than the traditional way of marketing. This is just another tool that is very effective, that everyone should be using or figuring out how to incorporate into the strategy.

Scott Rogowsky: You mentioned this Flow blockchain that you chose, ultimately. Why did you choose Flow over, there are so many other blockchain technologies out there. Obviously Ethereum is the one that most people have heard of, but why did you choose Flow?

Rob Richardson: I looked into it, it enables a long debate and process, but our goal was to empower people and to make this as accessible and as easy as possible. And so Flow blockchain is better for that, and for so many reasons. It's environmentally just way superior. You burn the same amount of energy with a mint as you do with a tweet. We have our own IPFS system, which is a fancy way of saying you can load a lot more data. You can load a whole movie. You can load metaverse-ready content at a higher level than you can on OpenSea or any of the other places. So there's that.

But beyond that, we want to make sure that they have the tools in a way that doesn't cost them hardly any money and it's easy to do. So we hardly have any gas fees. We've got almost zero gas fees. And if you wanted to do something to interact with your audience and do an airdrop or something with them, and that's a way of just gifting them in NFT, it would cost you a lot of money on Ethereum to do that. Look at what happened with the Bored Ape Yacht Club just this weekend, right? You had people paying, just think about this, paying the gas fees, which is basically a tax to buy something, and then paying the tax and actually not getting it. That happened. There was $300 million in gas fees last weekend. And so we want to make sure that it's easy for them to do it. It's easy for their audience. Their audience shouldn't have to pay gas fees just to own the art. 

If I want to help, and we do want to help people from Africa to Brazil, if they have to pay $50 every time, just to be able to create art, that becomes a barrier, right? $50 is not a lot of money to some people, but it's a lot of money to many people across the world. So we want to make sure this space was accessible. And then we also wanted to make it ease of use. So how I saw how NBA Top Shot worked, it was one click and it can mimic essentially what a Web 2 experience are. And that's a fancy way of saying what people are used to. That's what I think we have to do to scale. 

And so I don't think how Ethereum and how wallets are done now are going to be scalable. Their estimates are between 140,000 and 200,000 people are all there is that owns NFT, not anywhere close to 1% of the population. So to really ramp that up, we have to make the barrier of entry much lower and much more accessible, and Flow blockchain provides those benefits much better than Ethereum does.

Scott Rogowsky: So a marketplace is only as valuable as what's for sale in the market, right? It's very difficult to start just a brand new marketplace.

Rob Richardson: Very much [inaudible 00:22:00].

Scott Rogowsky: There's a bit of a chicken or egg. And I've worked at a couple places that have startup marketplaces. What others have done, it seems, they actually are going out and recruiting the sellers to people who have, whether it's inventory, whether it's exclusive sneakers or collectibles or something, in your case, it's going to be art or musicians or artists. How are you finding the people to come sell in Disrupt Art that are going to then attract the buyers to buy in Disrupt?

Rob Richardson: We're first of all starting off with creators that we align with, and we also provide custom solutions. So if Prince came to us, let's say, Prince would have his own marketplace. It would back plug into ours as well as Rarible, but it would be his marketplace. If you wanted to actually create and use NFTs for crowdfunding, I believe we've built out a custom solution to make that easier and better. And so we've begun to work with some brands that understand that. And so we do not pay, because frankly, we don't have the budget, but also I just don't think that's the way to go, because what happens when the deal runs out, right? If you have to rely on—let's think about this this way, and this is why we curate too. Had Netflix just relied on Disney and some of the bigger producers who wanted to use their platform because it was this new technology. Of course, they're all going to build their own thing as they did. So that's the reason why Netflix started doing curation and adding value that way. So for us, it's about how do we add value? And we don't necessarily see ourselves as a marketplace, like OpenSea and others. I see OpenSea as like eBay, general—everybody comes in. Us, we're primarily focused on fashion, film, and music and using utility to help these artists. So artists that actually want to connect in the real world, that's what our technology is built towards. So we just look for the right partnerships and creators that are aligned with that. That's kind of our initial strategy. And it took us a while to come to that, because you're right. We had to figure out what's our product market fit. But we started to find success in that space.

Scott Rogowsky: I like where we're going with this. Let's take a quick break, but more with Rob when we return.

Nora Ali: Now, Rob, let's get to a little bit of the big picture. You've said before that NFTs are possibly a path to creating generational wealth and opportunities.

Rob Richardson: Absolutely.

Nora Ali: But we don't have long-term data. We don't know how anything is going to turn out in the NFT world. So what gives you that confidence that NFTs are a good space to get into as a good investment?

Rob Richardson: That's a great question. And I would make it broader than NFTs. NFT is one avenue that you should invest in NFTs if you believe in the art, in the artists and just like any other art, like the art behind you. Sometimes maybe it doesn't become worth something, but sometimes it becomes worth a lot. And then a lot of times it flips in value and doubles, triples. That's not how I would look at NFTs. I would look at NFTs in terms of, okay, am I getting access to something now that is of value to me? I'm getting access to this artist that I love, and I get a chance to help he or she co-create. And I get a chance to sit down with this artist I normally couldn't do that, or I just enjoy this art and I want to just collect this art. And I like this artist, or I want to be a part of this community that has knowledge and access to things that are of value to me. We've seen whole communities be created. This is literally what the Bored Ape Yacht Club have shown this, there's power in organizing through economics, right? We've seen that and people want exclusivity, and there's a way to do that here. And so if you're a creator, definitely this is your space to do something here, you already do this. This is just the avenue to do that. Bigger picture, Web3 though, right? This is what I'm very certain of: NFTs is an application of Web3. NFTs aren't just digital paintings and digital collectibles, they're a lot more than that, right? They're going to be used for real estate. This is a concept called DeFi, decentralized finance. So yes, there are issues, yes, there are scams, but players gonna play, haters gonna hate, scammers gonna scam, but don't allow people to block you from an opportunity.

Scott Rogowsky: Well, Rob, you've done your research. You know your stuff. This has been an enlightening conversation, but now I'm really going to put you to the test, because it's time for QUIZ-ness Casual, the Business Casual quiz. There was no researching this quiz. This is a pop quiz.

Rob Richardson: All right. I love pop quizzes. Give it to me.

Scott Rogowsky: Qumero numero uno: Which of the following is not the name of an NFT marketplace, not? So three of these are, one is not. Ready?

Rob Richardson: Okay.

Scott Rogowsky: ThetaDrop, Nifty Gateway, Foundation, or MintLab.

Rob Richardson: I think it's the first.

Scott Rogowsky: ThetaDrop?

Rob Richardson: Yeah.

Scott Rogowsky: Not an NFT marketplace.

Rob Richardson: That's my guess. It's either the first or last. One of those two. Because the other two are.

Scott Rogowsky: Yeah. Well, Rob, you got to pick between A or D. I'm not going to be the one to do that.

Rob Richardson: All right. Tell me, what is it? What's A?

Scott Rogowsky: So you're looking at ThetaDrop or MintLab

Nora Ali: Mint sounds made up.

Scott Rogowsky: 

Yeah. Yeah. My guess is those two, my instincts are A sounds made up, but that seems too easy, you would do that. So I'm probably gonna outthink myself. So MintLab, that's probably something else, like a studio. So I'm going to say it's D.

Nora Ali: All right. We're going with D.

Scott Rogowsky: I love the reasoning here. And it worked, Rob: MintLab is not a marketplace. There is a marketplace called Mintable.

Rob Richardson: Yeah, I know that marketplace. That's why I looked and said MintLab.

Nora Ali: There you go. Wow.

Scott Rogowsky: Right. That's tricky. That's a trick question outta the gate. Okay. Question two. Approximately what percent of all cryptocurrencies in existence are active and/or valuable, i.e., Not dead? Okay. Of all cryptocurrencies ever created, what percent approximately? 55%, 90%, 75%, or 30%?

Rob Richardson: Oh, Jesus. 90%, 55%, 75%, what's the other one? 30%?

Scott Rogowsky: Or 30.

Rob Richardson: Yeah, my guess is 30.

Nora Ali: Yeah. I was going to say it's either pick the high or the low, because it's boring if one of the answers is 55 or 75. So let's go with 30.

Rob Richardson: Yeah. I don't see it being 90 though.

Scott Rogowsky: 30 is a pretty cynical approach here, but as of March 2022, there have been 18,465 cryptocurrencies in existence. However, there are some dead ones, some inactive ones, leaving around 10,363 active cryptocurrencies. Do the math: You're looking at approximately 55% are active.

Nora Ali: Dang it.

Scott Rogowsky: Listen, we're getting into math here. This is all sorts of crazy. After so many of these quizzes about NFTs, we're running out of questions to ask. This is Bella doing her best.

Rob Richardson: But it's going to be likely closer to 30% and even lower at some point, I think.

Scott Rogowsky: You know what? You're absolutely right.

Nora Ali: We're just looking at the future. There you go.

Scott Rogowsky: You're future-casting: That number will approach 30. But wait next month, we'll see.

Nora Ali: There you go.

Scott Rogowsky: All right. Final question here. Which of the following is not on the list of top cryptocurrencies by market cap, according to Yahoo Finance? Is it A) XRP, B) Cardano, C) Waves, or D) Dogecoin.

Rob Richardson: I'm going to say Waves.

Nora Ali: Waves it is.

Scott Rogowsky: Yeah. We're going to wave bye-bye to Waves. Waves is not in the top 10.

Nora Ali: Nice.

Scott Rogowsky: Although it currently has 285 million tokens in circulation, Rob, pulling it out, two out of three.

Rob Richardson: There we go. There we go.

Nora Ali: Wow.

Scott Rogowsky: Taking the W. Taking the W. I love it.

Nora Ali: So impressed.

Scott Rogowsky: Very impressed. I heard of Cardano, but I've not heard of any of the other ones. So this was beyond me.

Rob Richardson: Yeah, I'm too much of a nerd in this space. Yes.

Scott Rogowsky: You gotta be. You gotta go all in, right?

Rob Richardson: Yeah. Absolutely.

Scott Rogowsky: You gotta go all in and do that research, and we look forward to seeing where Disrupt Art goes.

Nora Ali: Thanks, Rob.

Rob Richardson: Thank you.

Scott Rogowsky: We love hearing from our Business Casual listeners. So please hit us up. Send us an email at businesscasual@morningbrew.com. I want your emails. Send us a DM on Twitter @bizcasualpod. That's B-I-Zcasualpod. Our DMs are open, folks.

Nora Ali: You can also leave us a voice memo on our website, businesscasual.fm, or give us a ring and leave us an old-fashioned voicemail. Our number is 862-295-1135. As Business Casual grows, we are excited to get to know our listeners, old and new. Drop us a line. And don't forget to leave your name and where you're calling or writing from, so we can hear from you in a future episode.

Scott Rogowsky: Business Casual is disrupted by Katherine Milsop and Bella Hutchins. Additional production, sound design and mixing by Daniel Markus. Sarah Singer is our VP of multimedia. Holly Van Leuven is our fact checker. Music in this episode from Daniel Markus and The Mysterious Breakmaster Cylinder. Who's now following Daniel on Twitter. If you like what you heard, please follow Business Casual on Spotify, Apple Podcasts, or wherever you go for ear candy. And we love it if you give us a great rating and a review.

Nora Ali: Thanks for listening to Business Casual. I'm Nora Ali.

Scott Rogowsky: And I'm Scott Rogowsky.

Nora Ali: Keep it business.

Scott Rogowsky: And keep it casual.