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When you buy an expensive piece of art, you often never physically see it, and a warehouse just notes that it belongs to you instead of the previous owner.
by anonymoushn 5y ago
When you buy an expensive piece of art, you often never physically see it, and a warehouse just notes that it belongs to you instead of the previous owner.
- brk 5y agoMaybe, I've never bought expensive art. But I know people who have, and I've sat around their kitchen surrounded by 10's of millions of dollars worth of art. It was mostly kept covered up from sunlight, but it was not in a warehouse.
- scyzoryk_xyz 5y agoBefore the 20th century technological advancements, when you bought a piece of art you not only owned it, you were in control of who gets to actually see it.
- meheleventyone 5y agoIn these cases though people are buying the art not for the sake of actually owning the art but for another use that it's high value provides them. Which is an apt comparison to NFTs because they mostly seem to be used for speculation.
- deleted 5y ago[deleted]
- robjan 5y agoWith NFTs, another warehouse can also note that the art belongs to you and you have equal legal rights to enjoy and sell the art as the original owner.
- 1270018080 5y agoYou're missing the point. When you buy a piece of art, you own the piece of art. When you buy an NFT, you own a row in a fundamentally meaningless database that points to some image on the internet. The database has no value, no one recognizes it, you don't own the image. There is a fundamental difference there.