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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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Think of an NFT as a membership card to a club. You can sell your card to someone else, but there's nothing stopping the club from changing their system and no longer accepting old cards, not letting someone in despite having a card, or going out of business.
And you've never been able to own movies or video games, unless you made them yourself. NFT's don't change that either, you may own a receipt for access to something, but the club analogy still counts.
And that whole comparison is only valid because there’s no laws about online ownership outside of copyright.
You don’t own anything at all, but NFTs are one of the only ways that we’ll ever be able to emulate ownership online. Seeing as our entire lives are moving there, I’m hopeful. You can be tired of them all you want, but nonetheless NFTs are the building blocks of decentralised ownership.
Also my copy of Pokémon Red and my Gameboy disagree with your statement about never owning a movie or game. I own most of my Switch games too, I can mod the cartridge however I want and I can resell it. Because I own it.
The whole point, by the way, is to have everything decentralised. You can’t take away my movies when there’s multiple, independent “sources” that I can claim the file from with my NFT. You don’t even need to give your private details away, you simply prove you own the private key that owns the NFT and you can watch your movie. Do you not see the bigger picture or are you too tired to look further?