The Laboratorium (2d ser.) (I Do Not Think That NFT Means What You Think It...)

Blockchains and NFTs will change this state of affairs dramatically. First, they will digitize the rights to digital content in the form of blockchain assets. Second, they will allow for the assets to be placed on secondary markets. Thus, we can view NFTs as liquid intellectual property (“liquid IP”) for all forms of digital content, a marketplace ... See more

That’s a 100x improvement over how most virtual goods are bought today - through centralized, siloed platforms like gaming giants where scarcity is in the eye of the gamemaker alone. Contrast that with NFTs, which 1) connect users to a universe of creators 2) for lower fees while 3) giving both parties provable ownership of their virtual assets acr... See more

But we shouldn’t think of NFTs as tokenized digital content itself. A core insight is that NFTs are much better understood as encapsulating intellectual property rights to the assets they describe.

Digital real estate has always had value. What’s different about web3 is that digital asset paradigms like non-fungible tokens (NFTs) make it possible for individuals to uniquely own – not just rent – specific pieces of digital real estate and metaverse land and locations for private or shared use. Blockchains, a core web3 technol

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An NFT serves as a digital certificate of authenticity, backed by math, on a public ledger, that incontrovertibly proves that the holder owns a one-of-a-kind digital (and sometimes physical) asset.