Still false, you own the token representing the monkey but not the monkey itself
The correct understanding of NFTs has always been trivial: they’re certificates. What they certify is not determined.
Anyone telling you anything else is either lying, or a moron (or has been lied to, which is not incompatible with being a moron).
Isn’t it basically just a receipt?
Pretty much. They basically serve the same purpose as Copyright Registration. If there is a question of who holds the rights to a work, I can submit my copyright registration as evidence that I claimed the work at that specific date and time. If you can conclusively prove you had it earlier, my later registration is irrelevant.
You creating an NFT of the work and putting it on the block chain before my registration with the copyright office would conclusively disprove my own registration claim to being the original creator. NFTs could be used as evidence of prior art.
NFTs could also be used as evidence of intent to transfer the copyright of a work to another.
Keep in mind, NFTs are evidence, not proof. I could submit an NFT before a court in a court to support my claim of copyright, but the court is going to weigh my evidence against all the other evidence in the case. My ownership of an NFT of my work is not going to replace my signed and notarized agreement to transfer the copyright of the work to someone else.
It’s more general than that; a receipt is like a certificate that certifies that you bought something, but an NFT could certify something else.
Provenance is a major issue in art. NFTs provide the best provenance yet.
The type of use case I see it could be good for is Software ownership. One could sell his copy of a game or give it to someone else by exchanging the token and the software could use it to validate ownership.
Yuppp
The anti-NFT crowd won with lies, helped by the loudest pro-NFT voices also being absolute morons and focusing on the dumbest possible ways to actually implement it.
Let it go man, the NFTs aren’t coming back.
Nooo bro, I totally OWN that jay-peg bro, you can look it up bro, the token is non fungible bro, do you even know what that means, bro?
Replace “token” with “title” and “monkey” with “car,” and you’ve got a formula most people understand.
I own the title, but I don’t own the car.
Unlike the monkey, you can go find the car in the real world.
But eventually you own the car. You never own the monkey.
Its not about whether you actually own the thing or not, its the record of you owning it.
Without a central body enforcing it its basically pointless, similar to if you don’t own the title of the car you don’t actually have record of ownership and therefore don’t have the rights to go along with that legally. (In theory lol)
The potential advantage of it being on an immutable blockchain means there’s a permanent record that isn’t tied to a piece of paper, and the distributed nature of most blockchains ensure there isn’t a single point of failure. (In theory again)
Plus you can trust that no one else has your car, whereas you have no way of knowing how may times your monkey was copied or how may exist outside the scope of your “certificate”
You own a reciept that points to where the monkey is currently. And there’s no gurantee the monkey will be there the next time you wanna look at it.
I wonder about the source of this image. She looks horribly uncomfortable…
They are actors playing wrestling in a scripted reality series
https://knowyourmeme.com/memes/john-silver-explaining-to-anna-jay
Lol from that page
This is why I like the other one because the bro being explained to just looks like his soul is dying.
