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When it's owned by an external party, you might not be able to (easily) trade it. When it's decentralized, nobody can stop you from trading it.
by koonsolo 6y ago
When it's owned by an external party, you might not be able to (easily) trade it. When it's decentralized, nobody can stop you from trading it.
- cdata 6y agoIt is funny: there are essays in this thread, authors clearly breathless to explain the utility or lack thereof of NFTs. Yet your two sentence explanation is the most comprehensive. NFTs enable the possibility of a market that is orthogonal to the channel that distributed the token. The viability or existence of such a market is not guaranteed, but the likelihood that one could emerge at all has gone up thanks to the novel properties of NFTs.
- arcticbull 6y agoBut of course there’s only one place you can redeem them. That means either that party is ok with transfers (in which case your point is moot because they can offer that themselves like Ticketmaster does) - or they’re not ok with the transfer in which case they won’t honor the token, making your point moot.
- koonsolo 6y agoSo how does the party best offer a trading infrastructure when they are OK with it? Implement it? Good luck. Easiest right now is to offer an ETH based token, and you can trade it for anything you want.