Comment by lekevicius

4 years ago

NFTs are a genuinely interesting concept. Cynicism can kill curiosity.

Edit: Photo NFT wouldn't sell for more. It's entirely different realm.

12 comments

lekevicius

Reply
colejohnson66  4 years ago

Genuinely asking: how? They seem, to me, to be a hype driven thing that doesn't make sense. If I buy an NFT of an art piece, what's stopping others from downloading the same file?

  • lekevicius  4 years ago

    First: I'd like to hear feedback why my previous comment was heavily downvoted. Was it too condescending?

    It's not about having access to content, but about owning the "thing". You might buy a painting and post high resolution scans of it: good enough for people to make very convincing copies. But it doesn't affect the ownership of the thing.

    NFT is not so much the content, but a record of ownership on the blockchain. And for digital content, that "doesn't make sense" outside of digital realm, it's a very natural tool to produce ability to own something digital.

  • YetAnotherNick  4 years ago

    It's even more ridiculous for tweet. It's not even that after spending millions of dollar the buyer got any special right to that tweet. If I would buy a tweet, at minimum I would like an edit access over that tweet and contract that the "real" owner can't delete it.

    • krallja  4 years ago

      > I would like an edit access over that tweet

      I’d like that on my own tweets, to start.

  • flyingchipmann  4 years ago

    Not disagreeing with you. Just saying that this is the exact purpose of the NFT - to show that you are the owner of the digital piece, i.e having the receipt/bragging right of it. It has nothing to do with the distribution. Anyone can have a copy.

  • BadOakOx  4 years ago

    It doesn't have to be something digital... We could move owning real life objects to NFT contracts. Like owning a car would be tracked on the blockchain and there is no paperwork needed about it.

  • fny  4 years ago

    There are applications beyond art. Art NFTs are a toy. Think bigger.

    https://www.citydao.io/

    FYI I'm not a huge crypto person, I don't know if the above is trustworthy, but it's an example of what you could do. God's knows if it works or collapses in a fire, but it's fun to watch.