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> A certificate of authenticity has value in as much as it certifies authenticity, not because someone important has signed it. I think you missed the point,

by DSMan195276 5y ago

> A certificate of authenticity has value in as much as it certifies authenticity, not because someone important has signed it. I think you missed the point, someone has issued the certificate and it only matters if you value that person's or entity's opinion. If you don't then it's just a meaningless piece of paper. For example, PSA grades playing cards. A rare card that is graded highly by PSA will generally make it much more valuable than an ungraded version of the same card. However, if someone send me a card in the mail and I grade it a 10 and send it back, that means nothing because nobody cares about my opinion on cards. Similarity, if PSA were to issue NFTs, they would have value specifically because it was PSA who authored the NFTs. I could take the exact same data and author an NFT myself, but nobody would care because they specifically want the one that was created by PSA, and that is something that is verifiable and that I cannot duplicate. They don't want it for any real tangible reason, they want it so they can say "I own an NFT from PSA".

lottin 5y ago
Of course, because a certificate is a statement about some fact. Therefore a certificate is useful as a certificate to the extent that the issuer can be trusted about the statement that is being made. But that doesn't apply to NFTs because the issuer of an NFT is not making any statement. An NFT is more like a blank piece of paper that has been rubber stamped by somebody.
- DSMan195276 5y ago
  > An NFT is more like a blank piece of paper that has been rubber stamped by somebody. Well it has something written on it, but yes pretty much. If the "somebody" is someone you care about though, then that can make it more than just a piece of paper, in the same way that if you care about the issuer of a certificate then it is more than just a piece of paper. I get the distinction you're trying to make, and I don't think it really matters, but perhaps it was a bad example and autographs would have been a better one. To be clear, I don't own NFTs, I get the idea but they don't appeal to me. But I also don't own any expensive art either for the same reason, so to each his own. I do own a bunch of trading cards, and I'm sure plenty of people would just view them as pieces of paper. Point being, people value plenty of silly things, NFTs are just one of them.

lottin 5y ago

Of course, because a certificate is a statement about some fact. Therefore a certificate is useful as a certificate to the extent that the issuer can be trusted about the statement that is being made. But that doesn't apply to NFTs because the issuer of an NFT is not making any statement. An NFT is more like a blank piece of paper that has been rubber stamped by somebody.

DSMan195276 5y ago
> An NFT is more like a blank piece of paper that has been rubber stamped by somebody. Well it has something written on it, but yes pretty much. If the "somebody" is someone you care about though, then that can make it more than just a piece of paper, in the same way that if you care about the issuer of a certificate then it is more than just a piece of paper. I get the distinction you're trying to make, and I don't think it really matters, but perhaps it was a bad example and autographs would have been a better one. To be clear, I don't own NFTs, I get the idea but they don't appeal to me. But I also don't own any expensive art either for the same reason, so to each his own. I do own a bunch of trading cards, and I'm sure plenty of people would just view them as pieces of paper. Point being, people value plenty of silly things, NFTs are just one of them.