> The concept of NFTs stored on a distributed ledger makes sense to me especially for the shitty games that sell skins. NFTs are/will be really useful to accou

> The concept of NFTs stored on a distributed ledger makes sense to me especially for the shitty games that sell skins. NFTs are/will be really useful to account for transactions involving unique assets or bundles of rights associated with unique assets. They're perfectly suited for things like writing digital deeds to real property, transferring ownership of IP, validating chains of provenance for various items, etc. The problem is that the current use cases are all spurious. NFTs used for "artwork" are neither transferring ownership of a unique fixed form of media nor used to convey any IP rights associated with the artwork. In these use cases, the NFT itself is non-fungible, but it encodes a reference to an external item that is both fungible and intangible, which makes it little more than a novelty.