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The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.
by tiku 5y ago
The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.
- blackoil 5y agoWhich will require the authority to recognize it. Your NFT of house is worth nothing unless court/police recognize it to be so.
- can16358p 5y agoWhich kills the whole idea blockchain is based on: decentralization. It's a feedback loop with no known exact solution yet.
- rvz 5y agoOr an uncensorable domain name service which has both utility and rarity and cannot be downloaded and is stored on the blockchain.
- sweetbitter 5y agoYou might be thinking of Namecoin, the first fork of Bitcoin.
- onion2k 5y agocannot be downloaded I can't help thinking this criteria makes the DNS service a bit less useful.
- onion2k 5y agoWould anyone buy a house if the proof of ownership was a URL to JSON file on a server you didn't control, with no regulation of the blockchain that the "proof" resides on? I will genuinely put effort in to starting a company that provides a blockchain proof of real estate ownership if this ever happens, just so I can fraudulently sell everyone's houses while they live in them after a few years. It'd be hilarious.
- thephyber 5y agoI have not seen any compelling project successfully bridge analog world content with digital signatures for blockchain purposes. These things always seem to require some trusted party like a government to support them. That said, I suspect something along these lines may some day be the "killer app" that NFTs/smart contracts need but are currently missing. The scarcity of atoms combined with the public, immutable digital records on a blockchain ledger. Too bad we are 12+ years into the blockchain and I've yet to see a compelling use case.