I don’t really care about fad stuff so I never bought any but also I never really understood how they worked practically. Like if I bought a famous tweet or jpg or what ever, how would I use the token to verify owner ship of the thing or sell it?
I don’t really care about fad stuff so I never bought any but also I never really understood how they worked practically. Like if I bought a famous tweet or jpg or what ever, how would I use the token to verify owner ship of the thing or sell it?
A commercialised use case known to you, perhaps, but they have some very useful actual use cases.
E.g. a commercialised use case is supply chain verification
And a really cool use case that hasn’t been commercialised is transferrable/sellable digital licences, e.g. for video games. NFTs even have a royalty system that would ensure the rights holder gets paid a small % with each second hand sale too
why the hell would anyone want a second hand game to cost even more?
The ability to sell digitally purchased games would be nice
The resale % back to the artist went away.
Doesn’t have to though. All of this is based on smart contracts, to which means the logic is what you make of it. It could, for example, also send some kickback to a platform when activating the game there, so e.g. you buy the game from the game dev directly and you’re given an NFT for it, with it you can download the game from the game dev page, but also you can pay a small fee and get a steam key for it, that fee could be sent to both Valve to justify their involvement, then you might be able to generate similar Playstation key for it, or any other platform. This would be an interesting system where users can buy the game once and activate it for different platforms.