3 ms·

So if I have this right, NFTs are a way to hand over a wad of money to get a receipt back that demonstrates proof of ownership of something that isn't in your p

So if I have this right, NFTs are a way to hand over a wad of money to get a receipt back that demonstrates proof of ownership of something that isn't in your possession and which can be deleted/modified/copied at any time, and your tool is a way for buyers to have increased confidence that the thing which can be deleted/modified/copied at any time is in fact the original? I think I'm too old for this nonsense.

smoldesu 4y ago
You're really close, actually! NFTs are a way for you to get a ledger that attests your ownership of the item by some arbitrary group. This arbitrary group is not respected nor recognized by any law to be a standard (nor is it flawless), and ultimately gives you no authoritative power over the object except for limited scenarios where said arbitrary group faithfully administrates your marketplace. Oh, but there's the fact that nobody will operate faithfully in the face of turmoil, and coins like $LUNA will backstab their top 1% of users to stop the coin from collapsing. None of these are safe or sane. I think all of us are too old for this nonsense.