Re:Why NFTs are bad: the long version
by gruez on Friday November 19, 2021 @07:11PM
(#29284325)
>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 ".
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 ".