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I think ownership is about control. It can be direct, like owning a baseball card, or indirect, a legal contract with a company like Amazon to maintain servers.
by newswasboring 5y ago
I think ownership is about control. It can be direct, like owning a baseball card, or indirect, a legal contract with a company like Amazon to maintain servers. NFTs fail on giving any control except on the blockchain. So the actual object for which we are trying to establish "ownership" can disappear against your wishes. It is not like owning a baseball card, more like owning a receipt of purchase.
- mrtksn 5y ago>NFTs fail on giving any control except on the blockchain That's why you own the NFT, you trade the NFT, you transfer the NFT.
- newswasboring 5y agoYes that is not in question. What is in question is what is the utility of the NFT? From your answer it seems like its just to be an NFT. What good is that for? Maybe try to address my baseball card vs purchase receipt analogy to make me understand better.
- mrtksn 5y agoIn practical terms, the main utility is that you can trade it. That's what I've seen from people who buy and sell NFT. They do have some other rationalisations, which I don't buy(yet). One is, it establishes your identity in the virtual communities. For example, you can buy an NFT for 1 million dollars and be known to be the guy who bought that NFT for 1 million dollars and hangs with other people who also bought expensive NFTs. I don't know if this works, the person who made that explanation to me doesn't really engage in that kind of communities and could not provide me with an example where that happens(someone else mentioned Mike Tyson being involved with something called cool cats and supposedly, he was hanging out with other owners of that NFT class but I was not able to confirm this). She simply sniffs around, finds NFT's with a lot of hype, buys some and sells for profit.