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> what I can do with it. Can I use it as an in-game item? Do I get access to your next podcast episode early in a patreon-like service? Do I unlock your next on
by alkonaut 5y ago
> what I can do with it. Can I use it as an in-game item? Do I get access to your next podcast episode early in a patreon-like service? Do I unlock your next online course for free or get a 50% discount on your next concert?
Yes. But apart from some specific edge cases (cryptocurrencies, specific name registries where the ledger is actually the store-of-value) how would that even work?
For an NFT to somehow be a proof-of-ownership it has to provide the owner of the token with some value. Access to some material, for example, like you mention. But where dooes NFTs come in? The provider of the service or product would need to agree to honor the NFT! And by that, magically, it's just like any gift card or rebate code!
There is a massive divide between on the one hand a tiny number of systems where the ledger is central (E.g. a cryptocurrency) because the users have already agreed that the value is stored on the ledger.
But why would a seller of hot dogs or concert tickets agree to that? And more importantly, how is it ever guaranteed? It can't be! So it's just a gift card!
What am I missing?