4 ms·
> Sometimes the traditional digital item (say an NFT) has an associated real-world contract attached to it that extends some sort of right/ownership of a physic
by zepto 5y ago
> Sometimes the traditional digital item (say an NFT) has an associated real-world contract attached to it that extends some sort of right/ownership of a physical item in the real world.
Does it? Do you have any examples of this? How does the ownership get enforced?
This seems to address the most salient criticism of NFTs which is that the only thing which changes ownership is the NFT itself, but I have never seen it in practice.
- rburhum 5y agoThey don't even need to be NFTs per se. The idea of blockchain-backed ownership is starting to jump everywhere. There are already a few companies like this: https://fraction.co/ https://fraction.co/
- zepto 5y agoA few companies is hardly ‘jumping everywhere’. Also, does anyone actually use fraction? They seem to be just selling a platform.
- rburhum 5y ago1) VC action in this space is not just to create shitcoins. And they keep getting bigger because this stuff is being built now. https://fortune.com/2021/11/18/vc-crypto-funds-are-getting-bigger-so-are-the-opportunities/ https://fortune.com/2021/11/18/vc-crypto-funds-are-getting-b... 2) The example of fraction is not just a "selling platform", but an actual real problem being solved (fractional ownership of real-world items). In LATAM for example, there are exceptionally convoluted structures to partially build and own low-income centers of commerce (kind of like malls). Fake ownership documents are very common. This solves that problem squarely. There are more real-world use cases like this.
- zepto 5y ago> This solves that problem squarely. Does it? How do you know? It sounds like that may just be an aspiration at this point. Has this technology actually been used to solve a real world problem? If so where?