Non fungible token in a nutshell

He doesn't own his books but he can own digital images of them

but at least he can own a block with a link to the picture

I wonder whether they really are over. I have to imagine there will be future surges once negative sentiment fades and just the right novelty comes along.

What do you mean they're over? I've invested billions of dollars in them. I've even given up on owning a house just so I can become the next sucessful billionaire investor. Away with your nonsense. Y'all just isn't as smart as me. 🤓

Thats a strong buy signal

I think the biggest place it has genuine benefit would be for something like deeds to homes, titles for cars and stuff like that. A permanent, auditable and public system for tracking the transfer and ownership of things.

Unfortunately it comes with its own caveats, such as “what if I lose the wallet containing the deed to my home, and I want to sell it?”

I never really understood the whole thing about picture based NFTs though.

Yet millions of people use receipts constantly.

You own cash physically.

Try again. And don't say credit cards, because that's still a physical object. Cash websites? It's not like you own something pointless on there. It's actually usable. NFTs are not.

It's all there is to NFTs. What you're describing are systems outside of NFTs. It's similar to saying there's "more to this excel spreadsheet" because the company uses it as a ledger for all their accounting. When it comes to buying a house or a skateboard, you have a physical house or skateboard. You also likely did due diligence beforehand for the house, like having somebody look over the actual papers registered with the government to make sure the sale is legit, actually seeing the house, etc. The Blockchain part is completely invisible in those cases.

But in this analogy, some people really do pay money just to have their name added to the spreadsheet. No house, no skateboard, just their name added to the ledger and a digital image that the ledger now says they own. But the thing about digital property ownership is in an actual sale of, for example, music rights, there is a governing body that enforces your ownership. No such thing for the NFT images people have been "buying". And buying is in quotes because it's crypto, there are no official receipts.

Just screenshot it ;)