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One analogy I find interesting: imagine a book signed by the author (clearly worth more than an unsigned book). Now imagine that the signature could be extracte
by lukifer 5y ago
One analogy I find interesting: imagine a book signed by the author (clearly worth more than an unsigned book). Now imagine that the signature could be extracted from its physical form, and traded independently. Is it silly to value that? Maybe; but that begs the question of why people value signatures.
At any rate, there are other use cases for NFTs beyond ephemeral pseudo-ownership of art [0]. Strictly speaking, a library card is a type of "non-fungible token". The real magic happens in the social ecosystems and institutions that define relationships using those tokens (same as with fungible tokens, which are otherwise just paper).
[0] https://theblockchainsocialist.com/unlocked-the-best-leftist-hot-take-on-nfts-youll-ever-listen-to-remix/ https://theblockchainsocialist.com/unlocked-the-best-leftist...
- skohan 5y agoSo I think the value of a signed book (which I agree in itself is dubious) is based in the provable history and scarcity of the artifact. You know that this individual copy of the book you are holding was touched by the author themself. There is something romantic about that, and you have something nobody else has. With an NFT, your "copy" of the actual work is totally indistinguishable from every other. The whole concept of ownership here is also incredibly abstract. I'm not saying there will never be a legitimate use case for something like an NFT, but I think we haven't seen it yet.