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Right, and that's why the physical art analogy breaks down. Was just trying to come up with a slightly better physical art analogy. Copies are possible, forgeri
by stolenmerch 5y ago
Right, and that's why the physical art analogy breaks down. Was just trying to come up with a slightly better physical art analogy. Copies are possible, forgeries are possible, and provenance is a real challenge. However with NFTs it all takes an abusive amount of electricity.
- jimkleiber 5y agoI like the idea of them being a commemorative coin. The analogy I've been using is that NFTs are like signatures. There may be a famous photo of Elvis that anyone can print, however, if someone had that photo printed and authentically signed by Elvis, it could be worth a lot more money, if people want to have the signature. If Elvis signed 500,000 of that same photo, the signature may not be worth much. Perhaps in the future if NFTs get some sort of legal backing and therefore more enforced property rights, maybe it'll be different, however I think the analogy works well for now. Thoughts?