3 ms·

An NFT is essentially a trading card for the thing that it's attached to. Just like you don't "own" Babe Ruth in any meaningful sense by owning a Babe Ruth trad

An NFT is essentially a trading card for the thing that it's attached to. Just like you don't "own" Babe Ruth in any meaningful sense by owning a Babe Ruth trading card, you don't "own" the artwork associated with an NFT by owning the NFT itself. The exception is if there's some arrangement external to the NFT that links ownership of the NFT to ownership of the thing.

hoppyhoppy2 5y ago
Could I sell an NFT for my birth certificate to raise some cash, while my original birth certificate remains at the state's Vital Records Department under ownership of the state? If so, what exactly would the buyer be buying? Just a virtual trading card and a promise that I won't sell my "birth-certificate NFT" trading card to anyone else?
- delecti 5y ago
  > Could I sell an NFT for my birth certificate to raise some cash, while my original birth certificate remains at the state's Vital Records Department under ownership of the state? Yes, and it's basically equivalent to writing the words "My Birth Certificate" on a piece of paper and selling that piece of paper. It holds no weight whatsoever. > If so, what exactly would the buyer be buying? Nothing. > Just a promise that I won't sell my "birth-certificate NFT" to anyone else? Not even that, unless you also did that. You can make multiple NFTs from the same thing. Just like nothing would prevent you from writing "My Birth Certificate" on a second piece of paper and selling that too, unless there was some external agreement that you wouldn't.
- pionar 5y ago
  A) yes B) ¯\_(ツ)_/¯
- t0mbstone 5y ago
  BRB selling myself into slavery via NFT
willchis 5y ago
And the horrifying thing is that they are selling NFTs for NBA trading cards (GIFs). So people now own a trading card of a trading card of a real person dunking :(
- delecti 5y ago
  That actually seems less horrifying to me. That feels like those NFTs at least acknowledge that they're basically trading cards. It's not an "NFT of a trading card" it's "an NFT which stopped pretending it wasn't just a trading card."`

hoppyhoppy2 5y ago

Could I sell an NFT for my birth certificate to raise some cash, while my original birth certificate remains at the state's Vital Records Department under ownership of the state? If so, what exactly would the buyer be buying? Just a virtual trading card and a promise that I won't sell my "birth-certificate NFT" trading card to anyone else?

delecti 5y ago
> Could I sell an NFT for my birth certificate to raise some cash, while my original birth certificate remains at the state's Vital Records Department under ownership of the state? Yes, and it's basically equivalent to writing the words "My Birth Certificate" on a piece of paper and selling that piece of paper. It holds no weight whatsoever. > If so, what exactly would the buyer be buying? Nothing. > Just a promise that I won't sell my "birth-certificate NFT" to anyone else? Not even that, unless you also did that. You can make multiple NFTs from the same thing. Just like nothing would prevent you from writing "My Birth Certificate" on a second piece of paper and selling that too, unless there was some external agreement that you wouldn't.
pionar 5y ago
A) yes B) ¯\_(ツ)_/¯
t0mbstone 5y ago
BRB selling myself into slavery via NFT

willchis 5y ago

And the horrifying thing is that they are selling NFTs for NBA trading cards (GIFs). So people now own a trading card of a trading card of a real person dunking :(

delecti 5y ago
That actually seems less horrifying to me. That feels like those NFTs at least acknowledge that they're basically trading cards. It's not an "NFT of a trading card" it's "an NFT which stopped pretending it wasn't just a trading card."`