by Flack » Fri Apr 02, 2021 7:06 am
Here's the way I see it. Let's say you bought a CD, ripped its tracks to mp3 files, and threw away the CD. At some point, you lose those mp3s and so you download replacements of identical quality from the internet. The concept behind NFTs is that the two sets of mp3s have different value; that the ones you ripped are somehow different than the ones you downloaded.
When I finished the cover of my first book I emailed copies of the file to a few friends to get feedback. After that, all of us had copies of the jpg. And after I released the book as an eBook, everybody who bought a digital copy of the book had the cover. But in theory, I could take that original file into an NFT and mark it as the original and then sell it. So you could own a copy of the jpg for free, or you could own the "original" of the file as an NFT and say, "I own the original."
This makes sense with physical objects. A painting by Picasso is worth infinitely more than a print of that same painting. So NFTs are a way to say, okay, this one print is the original, and all other prints are copies. Or, you know, these 10 prints are original, and then you sell 10 NFT copies. And at that point you have the print on your phone and I have a copy of the print on my phone and even through they look identical, one or worth money and one is not.
Here's the way I see it. Let's say you bought a CD, ripped its tracks to mp3 files, and threw away the CD. At some point, you lose those mp3s and so you download replacements of identical quality from the internet. The concept behind NFTs is that the two sets of mp3s have different value; that the ones you ripped are somehow different than the ones you downloaded.
When I finished the cover of my first book I emailed copies of the file to a few friends to get feedback. After that, all of us had copies of the jpg. And after I released the book as an eBook, everybody who bought a digital copy of the book had the cover. But in theory, I could take that original file into an NFT and mark it as the original and then sell it. So you could own a copy of the jpg for free, or you could own the "original" of the file as an NFT and say, "I own the original."
This makes sense with physical objects. A painting by Picasso is worth infinitely more than a print of that same painting. So NFTs are a way to say, okay, this one print is the original, and all other prints are copies. Or, you know, these 10 prints are original, and then you sell 10 NFT copies. And at that point you have the print on your phone and I have a copy of the print on my phone and even through they look identical, one or worth money and one is not.