6 ms·

In broad strokes it's accurate. The only difference is that back in the day the people selling moon acres could just sell the same moon acre multiple times, thu

by jjk166 5y ago

In broad strokes it's accurate. The only difference is that back in the day the people selling moon acres could just sell the same moon acre multiple times, thus destroying the value anyone placed in their certificates. With NFTs, there is some public list that shows who owns which plots of the moon and if someone tries to double sell a moon plot, you can say "I'm not paying for that." But it doesn't confer any more property rights than the previous setup. That said, NFTs are no more and no less irrational than buying the right to have your name slapped on anything else. Plenty of people will give money to have their name placed on a wing of a building or a park bench or what have you. NFTs allow you to have your name placed in a public ledger. If you value having your name in some specific public ledger, more power to you. But yeah if you wouldn't pay some random dude named Jim to declare you "Jim's Certified Owner of the Brooklyn Bridge" why would you pay him for "Jim's Brooklyn Bridge NFT"?

okareaman 5y ago
I wish the game was something more productive like purchasing the rights to individual trees in the Amazon. I'd like to say "I own 100 trees in the Amazon rain forest and I'm not selling to anyone who wants to cut them down." But I could sell the rights if I needed the cash. At least I could feel like I wasn't wasting my time with fantasy investments.
- muzani 5y ago
  There's plenty of organizations that do this. An interesting approach was someone selling land with a tree in Scotland, and once you buy it, you get a certificate that you're now a Scottish Lord.
muzani 5y ago
"That said, NFTs are no more and no less irrational than buying the right to have your name slapped on anything else. Plenty of people will give money to have their name placed on a wing of a building or a park bench or what have you" This nails it. People have been carving their names into historical monuments for centuries, or at least putting locks with their names on bridges.

by jjk166 5y ago

okareaman 5y ago

I wish the game was something more productive like purchasing the rights to individual trees in the Amazon. I'd like to say "I own 100 trees in the Amazon rain forest and I'm not selling to anyone who wants to cut them down." But I could sell the rights if I needed the cash. At least I could feel like I wasn't wasting my time with fantasy investments.

muzani 5y ago
There's plenty of organizations that do this. An interesting approach was someone selling land with a tree in Scotland, and once you buy it, you get a certificate that you're now a Scottish Lord.

muzani 5y ago

"That said, NFTs are no more and no less irrational than buying the right to have your name slapped on anything else. Plenty of people will give money to have their name placed on a wing of a building or a park bench or what have you" This nails it. People have been carving their names into historical monuments for centuries, or at least putting locks with their names on bridges.