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I guess I'm imagining tournament use playing a role, but more generally tying the concept of ownership & legitimacy to the NFT. Ideally it would move the value
by Jarwain 5y ago
I guess I'm imagining tournament use playing a role, but more generally tying the concept of ownership & legitimacy to the NFT. Ideally it would move the value of the asset into the digital representation instead of the physical, which is what would happen if the physical representation of the asset is easily replicated.
Like sure they could sell the NFT and keep the physical card, but at that point the physical card is now illegitimate. And a lot of the value is in legitimacy, right? If the only value was the physical representation, couldn't a collector could just print a counterfeit?
NFTs work when the important part is the abstract idea of "owning the thing", where the value of the thing is more extrinsic than intrinsic. The specific idea here is making the physical representation is worthless, putting all the value in the digital one. People would start caring a lot about NFTs if it was the "One True Source" of legitimacy.
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If we wanted to have both representations be equally as valuable, the idea would instead be to have to trade in the card to get the NFT. Trading in the card would involve burning the physical representation and issuing a digital one. If you want the physical rep back, trade the NFT back for a printed card.
If you haven't heard of Unisocks (https://unisocks.exchange/ https://unisocks.exchange/), It's an implementation of this idea.