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A common sentiment: This makes no sense to me. But lets add something: NFT's make sense for low-value consumer purchase. Buy a Lady Gaga album, and it's noted
by im3w1l 6y ago
A common sentiment: This makes no sense to me.
But lets add something: NFT's make sense for low-value consumer purchase. Buy a Lady Gaga album, and it's noted down on the blockchain that you own it. Google Music goes down? Ownership is yours still. Other stores (could be legally required to) still honor it. Possible to sell your album second hand.
- sp332 6y agoGoogle could just sign a proof-of-purchase. There's no particular benefit to putting the proof on a blockchain.
- jokethrowaway 6y agoThis, a blockchain for storing ownership is incredibly inefficient.
- im3w1l 6y agoPutting it on the blockchain makes it transferable.
- sp332 6y agoWe could let users sign a bill of sale. That could either be packaged together with the original proof of purchase in a private transaction, or published to avoid a "double-spending" situation where both the old and new owners claim the item. Or, have the users do the transaction on one of these participating websites and create a new proof-of-purchase and revoke the old one.