Quote:
Originally Posted by Rhotchkiss
Bob, I think thats a reasonable comparison. Or, consider original negative of a very famous photo. Imagine you had the negative of Ruth bowing out in his last game. The actual negative. You could make a millions pics off it, but there is only one negative. I think thats what an NFT is like, except its not tangible, its digital. But you can take it to another level - I can produce 20 photos from the negative, label them 1-20 and then destroy the negative or somehow retire it so more pics can be made. You can do this with an NFT too - make a limited edition/run, 1 of 20 of the same thing. Or, you can make some dumb monkey with 85 different hats on and sell each one of those hat-monkeys as an NFT that is part of the larger monkey-hat run. I am not saying this is a good buy, but only trying to explain, in somewhat "earthly" terms, what I think an NFT is.
And, as the owner, I think you would be able to bring actions against people who used your NFT without licensing it/permission; just like if someone used my painting or song in a commercial or movie.
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I agree that there is value in having the original. The issue with NFT’s is that ppl think they own the jpeg or video which isn’t actually true. The NFT is stored on a server somewhere and the address is stored on the blockchain in a smart contract which is what you actually buy. If the server crashed or shutdown or the file is deleted/moved then your nft is gone. All you are buying is a number that points to a server somewhere that tells you what resides there.
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