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this post was submitted on 18 Aug 2023
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Digital certificates has already existed for half a century. There’s nothing new. A certificate doesn’t get any more legitimate just because it’s recorded on a blockchain.
Yes but NFTs are held in trust by you, not a 3rd party business. If you want to sell your NFT to a friend you can do that without brokering the exchange through a middleman who can/will charge a cut
This is still solved by certificates, I can make my own self signed certificate that says it me and sign whatever I want. The only thing that crypto “solves” is over the wire man in the middle attacks, which aren’t even really a problem in the modern internet
How do I know you haven't made 10 copies of that same certificate and sold 9 to other people?
If it was an NFT I could see you issued 9 other copies of it before I was approached with the sale. Any other way I either have to place blind trust in you or rely on a 3rd party to handle the issuance/transaction
I could just use 10 different URLs for each NFT. All pointing to the same image. I can also use 10 different wallets to obfuscate it more. For that matter, I can use different blockchains as well.
Now it’s 10 completely different NFTs pointing to the same image. To verify there are no duplicates, you need to check every NFT in existence (across all blockchains in existence).
Why are people so obsessed with bringing scarcity back on the internet
Why would I want that, I’m not selling you anything