NFT’s also don’t implicitly make you the rightfull owner. The basketball NFT’s content still explicitly belongs to the seller. The only true way for NFT’s to work for digital content is to have a contract that specifically states that the NFT proves ownership, but you might as well write it directly in the contract at that point.

[–] Somerefriedbeans@lemmy.ca -2 points 1 year ago (1 children)

This specifically depends on the project producing the NFTs. Some grant full ownership while some do not.

[–] dsemy@lemm.ee 7 points 1 year ago (1 children)

That’s his point - NFTs don’t actually solve any problem here, they just add an extra step.

[–] Somerefriedbeans@lemmy.ca -1 points 1 year ago (1 children)

I fail to understand your point. What extra step? You either get ownership or you don't based on the asset you've acquired. NFTs don't have alto be a once size fits all kind of thing. You are just oversimplifying it. The same can work for physical objects that you purchase. Vehicle manufacturers make it to where you can't service your own vehicle sometimes because of special tools needed... So do you really own it? Hmmmm

[–] dsemy@lemm.ee 4 points 1 year ago (1 children)

I buy a picture from you, I get a receipt proving I bought it.

I buy a picture from you on an NFT marketplace, I get an NFT proving I bought it.

What value does an NFT provide in this case? I guess it provides a better proof of the purchase but that hardly seems worth the effort of setting up a wallet and acquiring crypto (for the average person at least). Not to mention the seller also needs to do these things, and I fail to see how he will benefit in this case.

Maybe in a hypothetical world where everyone uses crypto this will make more sense.

[–] Somerefriedbeans@lemmy.ca 0 points 1 year ago (1 children)

I'll just use a small example.. Let's say you have an NFT for a online casino project. Simply holding the nft in your wallet will give you a weekly payout (certain percentage of profits for that week/month)

I use this example because nfts can have many different uses. Another would be gated communities/gated access to online services. Hope that helps it make sense a little

[–] dsemy@lemm.ee 3 points 1 year ago (1 children)

All the examples you give are things that can be done (and are done in practice) without NFTs, and you don’t really explain why using NFTs would be better.

[–] Somerefriedbeans@lemmy.ca 0 points 1 year ago

Damn bro, I guess was wrong. Crypto is totally useless. Sorry for second guessing you