Re: 2 NFT is blockchain technology. And so, there's wallets as well, which are just private keys to which a unique token on the blockchain is assigned. Pretty

Re: 2 NFT is blockchain technology. And so, there's wallets as well, which are just private keys to which a unique token on the blockchain is assigned. Pretty much like "having a bitcoin in your wallet". The difference with cryptocurrency is that the tokens are provably unique, and therefor non-fungible (tokens aren't interchangeable unlike gold, oil or money.) An NFT represents a digital asset (regardless of where the asset is stored), and so if you have an NFT in your wallet, you can prove, by extension, that you own that digital asset. An NFT is basically a certificate of ownership. In law, the equivalent would be a "deed" or "title deed" (common law) https://en.wikipedia.org/wiki/Deed https://en.wikipedia.org/wiki/Deed https://en.wikipedia.org/wiki/Title_(property) https://en.wikipedia.org/wiki/Title_(property) The rights of an NFT holder could be violated if someone were to break/hack their wallet and transfer the token to another wallet. Resolving this is hard since you proving the intent behind transaction isn't part of NFT technology. That's where you end up in the classic legal system for arbitrage. Doubts about the regularity of the chain of property, as recorded in the blockchain within crypto, are called "cloud on title" in U.S. property law. https://en.wikipedia.org/wiki/Cloud_on_title https://en.wikipedia.org/wiki/Cloud_on_title Now, imagine the difficulties of contesting ownership acquired across international borders in different jurisdictions. NFT's do not solve that problem. All they do is prove authenticity and record provenance.