@kev
I think there is a chance that NFTs could be used for patents or other things, where you want the owner of an idea, that anyone still can see and copy.

But when it comes to art? :alexjonessmile2:

@LukeAlmighty @kev I understand that NFTs are meant to be a tool for true ownership of digital items, and a way to handle and trade these items outside the frames of centralized apps/platforms. Value of the NFT is supposed to come from its utility, scarcity and past owners while the value of the NFT market as a whole should follow the integration of the NFT blockchain into games and apps like Twitter.

@LucoaMilkers @kev
Value of the NFT is supposed to come from its utility, scarcity and past owners.

Economics 101
Value comes either from utility or value as precieved by others. So, let's start from the simple part. Past owners.
If you saw a guitar, that at one point belonged to Elvis, it will gain value in your mind. fair enough. But would you honestly buy an NFT only couse at one point it belonged to someone? I would not, but there is "some" value there.

Scarcity... of what? Scarcity is made by more people wanting to buy shit then there are people willing to sell shit. That means, that if there comea a crysis or another shiny toy, the moment people loose interest, you IMMEDIATELLY loose the ability to sell your NFTs.

And utility... I might be dumb, but outside some serious dependency on legal framework, I see no utility in a single string being placed on some random site. As far as I'm consterned, it has same value as your name on a speedrunning board. It's neat I guess, but there is no reason to buy it, unless you realy care for tbe sake of seing your name.

@LukeAlmighty @LucoaMilkers @kev

> some serious dependency on legal framework

I think so as well.
Tradeables in mmos come to mind, which have a "de facto legal" quality.
Which means someone from the outside voluntarily binds utility he controls to this ledger.
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@mute_city @kev @LucoaMilkers
The thing is, you don't need an NFT to trade in an MMO, since all of it is centralized. That is why I used patents as an example. You can sell a patent, and it is not tied to any particular physical or digital item. BUT when you see someone using it, you can point to NFT and let the legal framework do the rest.

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