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Non fungible token in a nutshell
(beehaw.org)
If you buy this, you are scammed.
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this post was submitted on 31 Jul 2023
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Okay but I own the ring, even I'm not holding it.
Well... No, the ring is Sauron's for legal reasons. You own a picture of it on the shared ledger.
Okay, so I can expect this picture to be under my control and ownership at least?
Well... No, you don't "own" own it, and it's not the picture either, really. It's just a number. But! The number points to a row in Opensea's database of pictures.
Okay, so I have ownership and control of that picture in Opensea's database?
Hahaha no, they can remove it or change it and you can't do a thing.
Just sounds like a bad implementation of a good concept