Not minshare only. It resides in the arrangements between organizations to enforce whatever rules areon the books regarding property rights. Smart contracts just put those rules into code on a blockchain. What is missing is the “enforcement” element.

But that may be a good thing to libertarians. NFT may be an early attempt to move past more violence-enabled business models for “intellectual property”, including the mode dominated by VCs for startups, and Music and Movie studios for artists