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I agree, but I think that's just a short term effect of people trying to cash in on the hype. Suppose I'm an artist that releases a limited digital run of an a

I agree, but I think that's just a short term effect of people trying to cash in on the hype. Suppose I'm an artist that releases a limited digital run of an album and that NFTs are used to attribute ownership of the digital release. Would this have more, equal, or less value than an artist doing the same thing but with a physical limited run album release? The actual music content can be pirated and made available just the same, whether or not it was physical or digital. The cost of the physical goods themselves is negligible. However, I feel like many people argue that the digital release via NFTs would be worth less because all you have to show for your ownership is a digital token, and not some sort of limited release physical item.

zabzonk 5y ago
> Would this have more, equal, or less value Surely it depends on how much you like the music? > However, I feel like many people argue that the digital release via NFTs would be worth less because all you have to show for your ownership is a digital token Correct. I value my vinyl copy of "Live Dead" by The Grateful Dead because I have had it for nearly 50 years, have played it countless times, rolled joints on it, and even like the scratches. It's also something that cannot be exactly copied, given current technology. Having said that, most of my music is on MP3s, but the idea that referring to them via some block chain crap will give them "value" is just silly.
- speedyapoc 5y ago
  I appreciate the perspective. > Having said that, most of my music is on MP3s, but the idea that referring to them via some block chain crap will give them "value" is just silly. I think the point here is that verifying ownership of digital goods is hard, because they are so easily reproduced identically. Blockchain technology and NFTs are one way to solve this problem because it allows you to have a verifiable chain of ownership which cannot be modified or faked. (ie. if a music release was as simple as the artist distributing an MP3 to 10 people, it would be impossible to tell who actually owned the "original" MP3). Is it unreasonable to think that in 50 years, someone might look back at the limited digital release they got of their favourite album as fondly as you look back on your Live Dead record, and then pass that digital ownership down to their next of kin? It's a concept that's been explored time and time again physically but seems weirdly uncharted for anything digital.
  - zabzonk 5y ago
    I guess I don't understand what "ownership" of a bunch of bits means. Can you "own" what is basically a number?

zabzonk 5y ago

> Would this have more, equal, or less value Surely it depends on how much you like the music? > However, I feel like many people argue that the digital release via NFTs would be worth less because all you have to show for your ownership is a digital token Correct. I value my vinyl copy of "Live Dead" by The Grateful Dead because I have had it for nearly 50 years, have played it countless times, rolled joints on it, and even like the scratches. It's also something that cannot be exactly copied, given current technology. Having said that, most of my music is on MP3s, but the idea that referring to them via some block chain crap will give them "value" is just silly.

speedyapoc 5y ago
I appreciate the perspective. > Having said that, most of my music is on MP3s, but the idea that referring to them via some block chain crap will give them "value" is just silly. I think the point here is that verifying ownership of digital goods is hard, because they are so easily reproduced identically. Blockchain technology and NFTs are one way to solve this problem because it allows you to have a verifiable chain of ownership which cannot be modified or faked. (ie. if a music release was as simple as the artist distributing an MP3 to 10 people, it would be impossible to tell who actually owned the "original" MP3). Is it unreasonable to think that in 50 years, someone might look back at the limited digital release they got of their favourite album as fondly as you look back on your Live Dead record, and then pass that digital ownership down to their next of kin? It's a concept that's been explored time and time again physically but seems weirdly uncharted for anything digital.
- zabzonk 5y ago
  I guess I don't understand what "ownership" of a bunch of bits means. Can you "own" what is basically a number?