4 ms·

Here's how I imagine such a system would work: Some agency owns the copyright to some digital asset. It issues an exclusive usage license to the holder of the

by cygx 5y ago

Here's how I imagine such a system would work: Some agency owns the copyright to some digital asset. It issues an exclusive usage license to the holder of the NFT, whoever that may be. The value the NFT provides is the ability to freely and verifiably trade the license without involving third parties. The value the agency provides is the ability for buyers to verify that the license is legitimate (and have someone to sue if it's not). I have no idea if there's any worth to this in practice.

fragmede 5y ago
Of course there is, that's an important business function of digital clearinghouses today. The question is if crypto and the specific distributedness that NFTs enable add anything to that. Which it might, but it's also not the model bring explored with most NFTs, conferring zero other than bragging rights to the purchaser.
- cygx 5y ago
  The question is if crypto and the specific distributedness that NFTs enable add anything to that. So you also have no idea if there's any worth to this in practice? We seem to be in violent agreement ;)
SAI_Peregrinus 5y ago
> The value the NFT provides is the ability to freely and verifiably trade the license without involving third parties. Except for the miners operating the network, who are involved third-parties. And the transaction fees, which make it not free.