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Comment by nik_s

I'm not sure I agree with your explanation.

Most NFTs are like a title to a house. Like a title to a house, you can: 1. Prove you own it; 2. Sell it to someone.

Unlike the title to a house: 1. The party certifying your ownership is not the government, but the consensus rules of a blockchain; 2. The thing you own is not physical, but digital in nature; 3. Your ownership does not prevent anyone from copying the file itself for their own uses.

Regarding your point that the object you own might not be consistent: because of the cost relative of storing data on a blockchain, the actual digital thing you own isn't usually stored on the blockchain, but a hash of that file (e.g. [1]). Unless hashing is broken, this is cryptographic proof that the object does remain consistent.

[1] https://github.com/larvalabs/cryptopunks/blob/master/contrac...

Edit: perhaps the notion of an entry ticket to a concert would have been a better analogy than a title to a house.

parent nik_s 4 years ago

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