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Well, for any collectible item an important factor is "provenance", i.e. is there a legitimate reason to believe the item originated from a credible source. At
by drcode 6y ago
Well, for any collectible item an important factor is "provenance", i.e. is there a legitimate reason to believe the item originated from a credible source.
At least nfts now require people to also forge the provenance, which provides an additional hurdle to forgers (my best attempt to steelman the "pro nft" argument)
For instance, if a great great grandson of Henry VII sells a medallion that he claims belonged to his ancestor, that would have more weight than a similar medallion from a random individual, because it's far less likely for a relative to also be a blatant forger. In theory at least, nfts provide a similar (limited) assurance.
- TheCapeGreek 6y agoThe difference is provenance with NFTs is about the NFT itself, but not the item. Like mentioned elsewhere here, block # and timestamp will differ. But digital items don't have provenance. To put it another way: the analogue is not original medallion vs new fake one. They're both 100% identical medallions in every conceivable way, but the receipt for one is older than the other. I don't know about you but I don't give a damn if your receipt is older than mine if the items are not unique in any way.