Replace âtokenâ with âtitleâ and âmonkeyâ with âcar,â and youâve got a formula most people understand.
I own the title, but I donât own the car.
Unlike the monkey, you can go find the car in the real world.
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Zwiebel@feddit.org â¨19⊠â¨hours⊠ago
Still false, you own the token representing the monkey but not the monkey itself
Replace âtokenâ with âtitleâ and âmonkeyâ with âcar,â and youâve got a formula most people understand.
I own the title, but I donât own the car.
Unlike the monkey, you can go find the car in the real world.
A closer analogy is Copyright Registration. You submit a work to the copyright office, claiming to be the original artist. If there is ever a dispute, the submission serves as evidence as to the date and time you claimed the work. If it predates the claims of another, and they canât prove you transferred the work to them, you win the case.
But eventually you own the car. You never own the monkey.
Plus you can trust that no one else has your car, whereas you have no way of knowing how may times your monkey was copied or how may exist outside the scope of your âcertificateâ
âYou wouldnât download a carâŚâ
Its not about whether you actually own the thing or not, its the record of you owning it.
Without a central body enforcing it its basically pointless, similar to if you donât own the title of the car you donât actually have record of ownership and therefore donât have the rights to go along with that legally. (In theory lol)
If you donât have the title to your car, and no one else does either, you can prove ownership by possession. Same with NFT, you prove ownership because you possess the wallet credentials.
Nooo bro, I totally OWN that jay-peg bro, you can look it up bro, the token is non fungible bro, do you even know what that means, bro?
FishFace@piefed.social â¨18⊠â¨hours⊠ago
The correct understanding of NFTs has always been trivial: theyâre certificates. What they certify is not determined.
Anyone telling you anything else is either lying, or a moron (or has been lied to, which is not incompatible with being a moron).
VieuxQueb@lemmy.ca â¨9⊠â¨hours⊠ago
The type of use case I see it could be good for is Software ownership. One could sell his copy of a game or give it to someone else by exchanging the token and the software could use it to validate ownership.
Jakeroxs@sh.itjust.works â¨11⊠â¨hours⊠ago
Yuppp
Agrivar@lemmy.world â¨10⊠â¨hours⊠ago
Let it go man, the NFTs arenât coming back.
Jakeroxs@sh.itjust.works â¨9⊠â¨hours⊠ago
Good ideas never die ;)
To be clear I didnât get into âNFTsâ during the craze at all because I knew what NFTs are supposed to be and personalized pictures of monkeys is not it.
At the same time it was hilarious how stupid the arguments on both sides were.
FishFace@piefed.social â¨8⊠â¨hours⊠ago
You sound like someone who thinks an nft is something other than a certificate.
Grail@multiverse.soulism.net â¨15⊠â¨hours⊠ago
Itâs a bitcoin that canât be swapped for other bitcoins, right?
FishFace@piefed.social â¨15⊠â¨hours⊠ago
Yes thatâs also true⌠I would venture that itâs not as useful in general to understand the concept though :)