this post was submitted on 20 Aug 2023
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That’s his point - NFTs don’t actually solve any problem here, they just add an extra step.
I fail to understand your point. What extra step? You either get ownership or you don't based on the asset you've acquired. NFTs don't have alto be a once size fits all kind of thing. You are just oversimplifying it. The same can work for physical objects that you purchase. Vehicle manufacturers make it to where you can't service your own vehicle sometimes because of special tools needed... So do you really own it? Hmmmm
I buy a picture from you, I get a receipt proving I bought it.
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? I guess it provides a better proof of the purchase but that hardly seems worth the effort of setting up a wallet and acquiring crypto (for the average person at least). Not to mention the seller also needs to do these things, and I fail to see how he will benefit in this case.
Maybe in a hypothetical world where everyone uses crypto this will make more sense.
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.
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.