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But would a NFT hold up in court as proof of ownership? For example if I get ahold of your NFT for some digital good do I 'own' that good now? I'm guessing if w

• Rule35 6y ago
  Generally, if you have to ask that, an NFT is not a good solution for your problem. In many cases, the answer is "yes", they very likely would, but it wouldn't be easier than a non-NFT. If you were already in business with someone and both decided to use NFTs to track something, then almost assuredly. A big problem is that ownership is proven by knowledge of a secret and you'd need to decide how would you want the court to decide if two people both present the ownership password/key? What would half-control over a cloud server be worth? An NFT is great for a unique digital resource, where control over it and ownership are roughly the same. For instance, cryptokitties. You buy tokens which cannot be divided - you can't own half a cat - but can be transferred. Whoever controls the keys controls the cat. In this situation the token replaces a stored user credential, and a stored avatar. In the real world though, I think they're a reasonable solution for short-lived, low to mid-value, non-fungible items, where users both want to swap their items and find doing so in a centralized way is too restrictive. Like concert tickets.