4 ms·

All of these items are already transacted digitally.

• freddieoduks 6y ago
  They are transacted digtially with the force/power of lawyers. With NFTs, you can "theoretically" transact without the need for lawyers.
• 3np 6y ago
  And information was transacted digitally before the internet. If that is a sincere comment, you’re missing the point.
  • dcist 6y ago
    That's absurdly reductionist and my comment is sincere. All the items you listed are able to bought and sold digitally. There is no evidence that the market in these items is being restricted because digital transactions are somehow being suppressed. Where is the added value from NFTs? From my perspective, the only "value" from an NFT is the concept that a digital item that is indistinguishable from an identical digital item may now be tagged with a token that proves ownership (but only of that one digital item) and which may be bought and sold. This is unnecessary for things like insurance policies, land deeds, equity, intellectual property, and domain names. All of these items have meta-information that allows proof of ownership (land deeds are recorded; IP is registered with the USPTO; equity ownership is registered with brokers and trades are recorded with the SEC; etc.). There are already functioning systems setup to record, register, and transact these items.