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You own the thing. Even though it's not physical, it's exactly like owning a baseball card or a work of art. On their own, those things have no intrinsic value

You own the thing. Even though it's not physical, it's exactly like owning a baseball card or a work of art. On their own, those things have no intrinsic value. Just like an NFT, they have value because the creator endorsed them, and other people put value in that endorsement. And just like an NFT again, you do not have the right to reproduce a baseball card or work of art just because you purchased it.

platz 6y ago
> Even though it's not physical, it's exactly like owning a baseball card or a work of art. you're confused. You don't own anything with an NFT other than a pointer. so it's not like owning a work of art at all. NFT's do not give you ownership over a work of art.
- nebulous1 6y ago
  I think he may be accidentally correct about the baseball card though, with the baseball player being the asset the NFT is pointing to and the card being the NFT. As such, the NFT is a collectible, nothing more. If it turns out that people want to trade these collectibles then ... that's fine!
- superbaconman 6y ago
  NFTs are NOT just urls. You can store all sorts of data within the token. Like maybe a license which grants commercial distribution rights.
  - platz 6y ago
    please show me all the tokens on openseas that are licenses that grant commercial distribution rights.
    - superbaconman 6y ago
      I haven't really spent much time looking. Honestly until message signing becomes a feature of every major wallet, then I'm not to interested. If you can't sign a message with your wallet you can't prove you own the wallet. If you can't prove ownership of a wallet, you can't prove ownership of NFTs associated with the wallet.
- acjohnson55 6y ago
  Correct. You have ownership of an "ownership label". I have a lot of skepticism that this type of ownership will have much demand over time.
manigandham 6y ago
No you don’t own anything. With physical items, even if the legality is suspect, you can still possess the actual original object. But there is no original with digital files. Everything is copied endlessly and with perfect fidelity. In fact everyone has made a copy just by viewing it.

platz 6y ago

> Even though it's not physical, it's exactly like owning a baseball card or a work of art. you're confused. You don't own anything with an NFT other than a pointer. so it's not like owning a work of art at all. NFT's do not give you ownership over a work of art.

nebulous1 6y ago
I think he may be accidentally correct about the baseball card though, with the baseball player being the asset the NFT is pointing to and the card being the NFT. As such, the NFT is a collectible, nothing more. If it turns out that people want to trade these collectibles then ... that's fine!
superbaconman 6y ago
NFTs are NOT just urls. You can store all sorts of data within the token. Like maybe a license which grants commercial distribution rights.
- platz 6y ago
  please show me all the tokens on openseas that are licenses that grant commercial distribution rights.
  - superbaconman 6y ago
    I haven't really spent much time looking. Honestly until message signing becomes a feature of every major wallet, then I'm not to interested. If you can't sign a message with your wallet you can't prove you own the wallet. If you can't prove ownership of a wallet, you can't prove ownership of NFTs associated with the wallet.
acjohnson55 6y ago
Correct. You have ownership of an "ownership label". I have a lot of skepticism that this type of ownership will have much demand over time.

manigandham 6y ago

No you don’t own anything. With physical items, even if the legality is suspect, you can still possess the actual original object. But there is no original with digital files. Everything is copied endlessly and with perfect fidelity. In fact everyone has made a copy just by viewing it.