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NFT would be better explained if they used the older word: certificate. But if we called NFT's 'certificates,' then less would buy into the Tulip mania. NFT's
by Jerrrry 5y ago
NFT would be better explained if they used the older word: certificate.
But if we called NFT's 'certificates,' then less would buy into the Tulip mania.
NFT's are just a digest of certificates, public/private key pairs, and a chain of hashes.
If Lebron James put out a limited run digital model of himself, a set of hashes and schema describing the signatures, and released the certificates for purchase on Nike.com,then all the legal, authorized implementers, such as Fortnite, CS:Go, Roblox, and Halo:Infinite could all render the model, respect the ownership (or lack therof) by validating the account and object's cryptographic digest (comparing against a global ownership ledger), and allow free, unrestricted, cross-domain/platform/Intellectual property boundary transfership and use, aligning with meatspace laws...
...all without calling it an NFT.