3 ms·
That was the original use case for NFTs (replacing paperwork as a record of ownership of something tangible), and what I remember people saying they could be us
by cableshaft 4y ago
That was the original use case for NFTs (replacing paperwork as a record of ownership of something tangible), and what I remember people saying they could be used for when it was still just a concept yet to be implemented, way back when they were just called 'colored coins' and not NFTs.
It's still the most reasonable thing to me, or maybe signifying ownership of digital content (for a reasonable price), like owning a digital weapon in Warcraft you could sell to someone else via an NFT marketplace.
People just found some easy money with the PFP (profile pic) NFTs, started treating them like Pokemon cards, and prices got insane and stupid for a while.
Hopefully that more or less goes away and things will be sold for prices similar to what it should really be worth again (I don't mind paying $5-10 to say I 'own' a cool profile pic, for example, but $250k+ is insane).
- warrenm 4y ago>I don't mind paying $5-10 to say I 'own' a cool profile pic, for example I'm with you on this - I don't mind spending a "little" to say I "own" some digital asset I've bought services on Fiverr and the like wherein I not only get the output of the purchase, but rights to using the output in derivative forms Likewise, I've paid the extra couple bucks to get the copyright release when purchasing photo shoots of my family But with the background of DMCA, etc...I'm not even sure it makes [economic] sense to say you "own" some relatively-cheap NFT-based digital "asset"