I don’t really care about fad stuff so I never bought any but also I never really understood how they worked practically. Like if I bought a famous tweet or jpg or what ever, how would I use the token to verify owner ship of the thing or sell it?
I don’t really care about fad stuff so I never bought any but also I never really understood how they worked practically. Like if I bought a famous tweet or jpg or what ever, how would I use the token to verify owner ship of the thing or sell it?
Sure, just like a property deed doesn’t dictate ownership. Just like money, deeds of any kind are only as valid as what we allow them to be, if our society were to use NFTs to track ownership of something then it would dictate ownership just as much as any other deed and would be enforceable by judges and police in the same manner.
In other words, NFT are a way to use Blockchain technology to obtain a non fungible token, whether that token means something depends on our societal agreements, just like any piece of paper.