St. Pete Man Explains Cryptocurrency and NFTs to Grandson

In an effort to improve cross-generational communication within his family, Edgar Hindhaus of St. Petersburg recently sat down with his grandson Tyler to explain how cryptocurrency and non-fungible tokens (NFTs) work.

“Okay, money is basically whatever we decide is valuable enough to exchange for other goods and services, and it can be anything we want it to be. Sometimes it’s gold or other shiny stones we like. You know how essentially a $20 bill is really just a piece of paper with certain markings on it that we’ve all collectively agreed and accepted is worth $20?”, he said. “Well, this picture of a monkey smoking a cigarette is a NFT and it’s the new $20 bill.”

“Except it’s worth $40 thousand,” he added.

“I don’t understand, grandpa,” said Tyler. “That doesn’t make any sense to me.”

“Why do I waste my time trying to talk to you? You’re an imbecile, just like your father”, replied Edgar.