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Web3 is here and it's glorious (lemmy.world)

submitted 1 year ago by qaz to c/[email protected]

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[–] NecroSocial 1 points 1 year ago* (last edited 1 year ago) (1 children)

I buy a picture from you on an NFT marketplace, I get an NFT proving I bought it. What value does an NFT provide in this case?

In this case, assuming you're a trader in this example, you'd be banking on whatever art you purchased to gain further value so you can then sell your certificate of ownership and make a profit. This is no different than art sales/trades IRL. Here's an art gallery owner discussing using NFTs as certificates of ownership for real world art sales and the added benefits over traditional COOs.

[–] [email protected] 2 points 1 year ago

I guess if there is an issue with verifying authenticity of art and using NFTs solves that issue this makes sense. Selling digital art using NFTs is still dumb IMO, as there is no real concept of owning or displaying an “original digital painting” like you can do with normal paintings; in that case you only get a fairly abstract proof of ownership (NFT avatars on various sites and NFT items in games could change this if implemented widely I guess).

Other than a few similar use cases they still don’t seem very useful, and it I think in most cases they solve issues that already have good solutions.