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NFTs .... am i missing something?

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    #31
    Originally posted by Whorty View Post

    I get that with a physical 'thing', but NFTs aren't anything .. the 'owner' doesn't really own it and the image or whatever can be copied. I read an analogy to a Picasso - an NFT is like original painting, that only one person can own, but many people can own a print of that painting ... which makes sense, apart from if I own a painting I have something physical, whereas and NFT is nothing at all, just 0's and 1's.

    Can't get my head around it personally, and just feels like a bandwaggon being jumped on by bored people trapped at home by the pandemic who have nothing better to do. Clearly some people will make money out of it before the market goes pop, but most people will lose.
    It goes further than that. Take the art/jpeg aspect of it away and think of it as a unique digital asset with properties and metadata. This can be a piece of digital art, a share certificate, a legal contract, a concert ticket, a unique or limited edition version of a song/video or anything that requires proof of ownership or membership that can be digitally tied to a single crypto wallet address.

    The fact that currently most NFTs are PFP projects with rarity traits is just the most popular use case for this new tech. The use cases for gaming are huge and also virtual metaverses (which are becoming more of a thing) - and these are just recreational use cases. The possibilities for legal contracts, insurance, share certificates etc haven't really even begun yet.
    "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

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