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My friend made literally the same point few days ago regarding anyone buying these NFTs. My question to him was, "Would you buy the ownership of Heroes by Davi

My friend made literally the same point few days ago regarding anyone buying these NFTs. My question to him was, "Would you buy the ownership of Heroes by David Bowie (his favorite song of all time), for $2000 (a price he can afford)?" He conceded the point before I finished the sentence. Now imagine if the NFT also came with the royalty rights of the song (not that this Grumpy cat came with that, but NFTs can be created where they carry rights with them), wouldn't he be willing to pay an even higher price?

insert_coin 6y ago
We already have a way of selling rights, he has been able to buy the rights to songs for decades. Of course if you are selling to him something he already considers valuable at a very very low price he is gonna want to buy it. It has nothing to do with it being an NFT. In short, he conceded no point but you did: the NFT in itself is not the valuable part, what's being sold is.
- qqii 6y ago
  Rights are actually an intersting example for the use case of NFTs. Blockchains can produce stronger guarentees than trusted timestamping. This is often used to prove digital existence and ownership. Given the adoption of this interpretation in law disputes about digital ownership can amount to a digital signature with the private key.
- iamben 6y ago
  Yeah - I think a lot of my thoughts regarding NFTs have been "why do we need a NFT for this" (much like "why do we need a blockchain for this" during the ICO craze). From what I can see, pretty much everything getting hyped with NFTs can already be achieved without them.
PascLeRasc 6y ago
Ok, I just purchased the song. What does that get me in terms of art enjoyment? I also purchased a Van Gogh original canvas, which is cool because I really like Van Gogh and it’s cool to have something that he touched, plus I think it has details that the prints are missing. Are the 8-track tapes of Heroes for sale here, so I can hear the original raw recording, or did I just get nothing?
- qqii 6y ago
  My interpretation of the comment is that "rights" refers to licensing.

insert_coin 6y ago

We already have a way of selling rights, he has been able to buy the rights to songs for decades. Of course if you are selling to him something he already considers valuable at a very very low price he is gonna want to buy it. It has nothing to do with it being an NFT. In short, he conceded no point but you did: the NFT in itself is not the valuable part, what's being sold is.

qqii 6y ago
Rights are actually an intersting example for the use case of NFTs. Blockchains can produce stronger guarentees than trusted timestamping. This is often used to prove digital existence and ownership. Given the adoption of this interpretation in law disputes about digital ownership can amount to a digital signature with the private key.
iamben 6y ago
Yeah - I think a lot of my thoughts regarding NFTs have been "why do we need a NFT for this" (much like "why do we need a blockchain for this" during the ICO craze). From what I can see, pretty much everything getting hyped with NFTs can already be achieved without them.

PascLeRasc 6y ago

Ok, I just purchased the song. What does that get me in terms of art enjoyment? I also purchased a Van Gogh original canvas, which is cool because I really like Van Gogh and it’s cool to have something that he touched, plus I think it has details that the prints are missing. Are the 8-track tapes of Heroes for sale here, so I can hear the original raw recording, or did I just get nothing?

qqii 6y ago
My interpretation of the comment is that "rights" refers to licensing.