Published on: March 22nd, 2021 • Duration: 64 minutes
Anish Mohammed, co-founder and CTO of Panther Protocol, joins Santiago Velez, co-founder and R&D division lead for Block Digital, to discuss token economics (tokenomics), non-fungible tokens (NFTs), and the impacts of Ethereum’s improvement protocol (EIP) 1559. Mohammed defines tokenomics as the utility, incentives, and flow of value that are designed around a token. He says that there are many new utility mechanisms that can be added to a token to create ecosystem incentives and value around it, such as token curated registries, token burning, and staking. Mohammed says that non-fungible tokens provide verifiable uniqueness via the blockchain and that they can enable entirely new kinds of market places. He believes that the burning mechanism introduced by EIP 1559 will in the short-term bring in less fees for miners, but in the long run will increase the value of ETH and improve the income for miners. Filmed on March 17, 2021.
Tokenomics stands for Token Economics and is the term for how economic incentives are built into a token. Non-fungible tokens provide verifiable uniqueness via the blockchain. Mohammed believes that burning mechanisms introduced by EIP 1559 may, in the long run, increase the value of Ether