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Yeah I think the art/jpeg part of it is somewhat meaningless. The creator can probably still can claim copyright, and of course anyone can copy it. At one leve
by jtxt 5y ago
Yeah I think the art/jpeg part of it is somewhat meaningless. The creator can probably still can claim copyright, and of course anyone can copy it. At one level it's lust a link to URL that can be bought and traded.
But also: proof of ownership of a NFT can be access to something else, that can be the "utility" defined by the NFT creator. Like the Board Ape Yacht Club gives access to parties. Others give other value add like YouTube revenue license rewards if the NFT shows up in an animation for example. (Quarter Machine) I think "utility" is where more of the potential is. It can be valuable with the people/company backing it and keeping their word.
- SAI_Peregrinus 5y agoAlmost all of the time that "utility" isn't controlled on-chain, so it requires trusting the people/company backing it. So it doesn't need an NFT, they could just as easily maintain a database.