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Problem is with physical art, you have guaranteed unique item. Basically item guarantees it is unique. With NFT, auctioneer guarantees item is unique, but noth
by bluesign 6y ago
Problem is with physical art, you have guaranteed unique item. Basically item guarantees it is unique.
With NFT, auctioneer guarantees item is unique, but nothing prevents you selling the same item on different markets.
Basically you are betting on the market you are using will be the ‘one’ in the future.
- vntok 6y agoThat problem already exists in the real world, where for example some paintings or gold necklaces are claimed by multiple countries, due to a lot of war looting and tomb raids. Each country may hold a legitimate deed over the piece of art, whether that deed is recognized by other countries is another thing.
- bluesign 6y agoYeah but still item is unique. Imagine every country claiming this item can sell. In real world, you may have the deed but without the item, it has actually no value. In digital world, you only have deed, not a physical item. So deed has the only value.
- qqii 6y agoHere's an artist talking about this: https://youtu.be/1ERt4BTBbDk https://youtu.be/1ERt4BTBbDk I find his analogy more apt - nothing prevented an artists from making another painting and claiming it to be genuine #1 of #1 either. It's just with NFTs the benefit for a buyer is being able to see this happen on a public blockchain.