Re:Why NFTs are bad: the long version
by acdha on Friday November 19, 2021 @05:54PM
(#29283669)
But you own the painting. With the NFT, all you have is a URL pointing to a hosting service which anyone else can access and you have to keep paying if you want it to stay online.
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>But you own the painting
But you still paid a few million more for the original painting, even though it's virtually indistinguishable from a replica. It's more helpful to think of an original painting as a bundle of two things:
Original painting = thing that looks like a painting + bragging rights
An NFT is just the "bragging rights" part of the original painting, and the JPG that anyone can access is the "thing that looks like a painting ".