Author here. Thanks for challenging my ideas. If you keep the bag for yourself, and don't care that other people think you have a fake bag, then this is equiva

Author here. Thanks for challenging my ideas. If you keep the bag for yourself, and don't care that other people think you have a fake bag, then this is equivalent to the case of "consumable luxuries" that I discuss with Wagyu beef NFTs. I think this still creates pressure on the counterfeit economic incentives. The counterfeiter needs to acquire a real NFT for every fake bag they want to sell, and furthermore, this scam does not profit in units of cash - you end up with NFT-less real bags, which will be difficult to trade back into cash (caveat: this is assuming that no one will want to buy the NFt-less real bag). I also mention the following in the post - it is not about guaranteeing the pairing of NFT and physical objects. I agree that there does not seem at present a reliable mechanism to pair NFTs with a physical objects. However, I changed my mind once I realized that it's about disrupting the economic incentives of counterfeiters. An even more roundabout way to achieve this goal would be to create legitimate jobs for people with these counterfeiting skills. Not all solutions have to be secure in the transactional sense.