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 were (is?) to copyright what Cryptocurrency is to money. A decentralised system, without requiring a central organiser.
With cryptocurrency, the token was the money, and inseparable from the Blockchain. With NFTs it was the equivalent of a recept, not the item.
Basically, NFTs tried to replace copyright etc. However, they have no enforcement ability beyond that of local copyright enforcement. At that point, you might as well just use local copyright directly. No need for a middle man.