But we already have a mechanism for licensing, its copyright. NFTs provide no new tools or even solutions for tracing, enforcing or indeed arbitrating licensin

But we already have a mechanism for licensing, its copyright. NFTs provide no new tools or even solutions for tracing, enforcing or indeed arbitrating licensing of a thing. Its just a hash. Photo stock sites already have perceptual hash tracing. However for them its useless as they only ever sell licenses to use the artwork, not "ownership". They still retain the original copyright, which allows them to sell licenses to use the image/sound/thing