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> an NFT actually becomes useful when it represents a right that is decoupled from one specific asset. More like a tradable auth role. We do have something lik
by iamwil 6y ago
> an NFT actually becomes useful when it represents a right that is decoupled from one specific asset. More like a tradable auth role.
We do have something like that already, the Ethereum Name Service, or ENS. It's basically DNS for Ethereum wallet addresses. Because wallets represent an owner, they're like an identity.
ENS names look like `acjohnson.eth`, and they're NFTs. That means they're also tradable on exchanges and marketplaces.
Unlike DNS, the entire ENS lookup and auction mechanism is on-chain. That means, there's no single point of failure, and given the contracts were written right (still hard to do), shuts down specific vector of attacks.
- acjohnson55 6y agoThanks for that pointer! I had seen these around, but hadn't looked into it. I guess that kind of makes the point that tradable identity already exists in the form of DNS. Although, in that case, it's the position of the name itself in the namespace that is the commodity of interest, not so much what its ownership provides access to. What I have in mind is something really similar, but the commodity is effectively anonymous, but provides secure and unique access to some asset. Also, DNS and ENS names are both rented, rather than owned.