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it could be sustainable if companies publically announce that they intend to defend the authenticity of their NFT. ("we released an NFT that stands for ownershi

it could be sustainable if companies publically announce that they intend to defend the authenticity of their NFT. ("we released an NFT that stands for ownership of a pokemon but some dude on a website also released an NFT for that pokemon and that's not okay and we sue") A private citizen creating an NFT will never work imo, at least not if he won't defend the authenticity part of the certificate. I mean that's the entire idea of any certificate, it has to mean something similar to a university degree certificate or a food safety certificate. Somebody or something has to make sure that its supply is regulated.

root_axis 6y ago
A university degree or a food safety certificate are not at all like an NFT. Those types of certificates have substantive implications. A degree is a credential to signal one's expertise, a food safety certificate is a credential signaling the food meets specific standards for human consumption. Authenticity is important in these cases because it's valuable to be able to determine if the issuance of the certificate reliably correlates with what it implies. If I decide I want to hire an engineer to build a bridge, a certificate that can reliably signal they are educated in the vocation of engineering is a matter of life and death. With NFTs, authenticity is a non-issue since the NFT itself is lacking in any meaning because it has no connection to the real world.