4 ms·

Art is only one use case. NFTs can represent land ownership, driving licenses etc.

• Barrin92 6y ago
  sure but putting a license on the internet isn't that innovative. Our driers licenses are pretty good and pretty cheap, and we've proven land-ownership over generations pretty well. This is not world-changing stuff. If you want radical innovation build some robots that make house construction 90% cheaper, whether the license for my house is printed on paper or a blockchain doesn't matter to anyone. NFTs and virtually any crypto tool have no impact on the material world, and we very much still live in the world of atoms.
  • puranjay 6y ago
    Putting a license on the internet isn't innovative. Putting a license that can be owned in fractions is. Most deals in the real world are already fractionalized. If someone is building a new housing complex, he is likely going to raise funds from a bunch of investors, each of which will get a share of ownership based on their investment and negotiation skills. The only way to invest in these deals is if you know people and are in the right place at the right time. There are gatekeepers aplenty and you need big capital to get in. If you were to tokenize the same new housing complex, anyone, anywhere can buy it up. Ownership records are transparent. There are no gatekeepers. And ownership is fully democratized. You might have $1 to your name but you can still claim to have ownership of this spanking new housing complex (even if its 0.0001%) - no intermediaries involved. It opens up previously unavailable opportunities to anyone, not just the people with the connections and the big wallets.