Re:It is difficult for the average person to conceive of how...
by dwaite on Monday January 10, 2022 @12:50PM
(#29878586)
> Here's a thing about NFTs that I've seen a lot crypto evangelists and haters miss, and a sentiment that I think will grow once the novelty dies out: The "art" is irrelevant. It's no more than a thumbnail or a poster marketing it's utility, and that's exactly the actual important part - what I can do with it. Can I use it as an in-game item? <snip>
Thinking of it in terms of utility vs ownership is useful because ownership is a social/regulatory concept.
The problem with utility is that that utility is still bound to the seller/market. Can I use it as a decoration in my Meta VR home if it was bought outside Meta's marketplace? Does the utility actually transfer with sale?
As such, it looks like a purchase receipt of a DRM-protected good in a single centralized ecosystem, regardless if it that receipt is represented in a third party or decentralized system.
Thinking of it in terms of utility vs ownership is useful because ownership is a social/regulatory concept.
The problem with utility is that that utility is still bound to the seller/market. Can I use it as a decoration in my Meta VR home if it was bought outside Meta's marketplace? Does the utility actually transfer with sale?
As such, it looks like a purchase receipt of a DRM-protected good in a single centralized ecosystem, regardless if it that receipt is represented in a third party or decentralized system.