I don’t really care about fad stuff so I never bought any but also I never really understood how they worked practically. Like if I bought a famous tweet or jpg or what ever, how would I use the token to verify owner ship of the thing or sell it?
I don’t really care about fad stuff so I never bought any but also I never really understood how they worked practically. Like if I bought a famous tweet or jpg or what ever, how would I use the token to verify owner ship of the thing or sell it?
NFTs, like block blockchain in general, are public write-only databases. The only difference is that NFTs also contains references to things such as media (pictures).
They’re still around, but like all other fads that are poorly camouflaged pondicherry schemes, they’re practically worthless.
An NFT doesn’t dictate ownership, neither de jure nor se facto.
While I find the concept of public write-only databases interesting feom a technological standpoint, an actual use case has yet to be discovered.
A commercialised use case known to you, perhaps, but they have some very useful actual use cases.
E.g. a commercialised use case is supply chain verification
And a really cool use case that hasn’t been commercialised is transferrable/sellable digital licences, e.g. for video games. NFTs even have a royalty system that would ensure the rights holder gets paid a small % with each second hand sale too