Nostr Web Client

Here's the problem, though: an NFT does nothing if someone just steals the sculpture.

NFTs are merely certificates, or claims, that someone owns something; they're not the owned thing itself. Just like how a marriage certificate isn't the marriage itself, nor can it guarantee that one spouse can't/won't cheat on the other, NFTs aren't the thing that's claimed to be owned, nor can they guarantee any ownership, or that the thing it certifies ownership of can't be stolen. You can *"prove ownership"* all you want, but that does nothing to *"force the artist (or last owner) to deliver the goods."*

Bitcoin is information that acts like a physical thing; NFTs are just information of empty promises that mean nothing in the real world. Spending real money on one is a complete and total waste in every way.

#Bitcoin 💜🪙⚡️

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Discussion

George Saoulidis 2y ago

A client was just asking me about this, how to make sure the nft and physical artwork pair stick together. There's no way.

Janiak 💜⚡️ 2y ago

There's one thing you're taking for granted, though: trust.

NFTs require us to trust that the thing it certifies is real. No tangible good can be virtualized (though the film "TRON" comes to mind :laughing:). NFTs are **not** virtualized tangible goods; they're just claims that something exists, and that it's owned by someone. The map is not the territory.

Janiak 💜⚡️ 2y ago

The only "physical" thing that can be legitimately "virtualized" is pure energy, which Bitcoin does by using cryptography to prove mathematically that real work was done. Bitcoin thus eliminates the need for us to trust, since we can verify the math ourselves.

Moid ( DEAD ACCOUNT. SEE DISCRIPTION FOR NEW NPUB ) 2y ago

Yep. They can be skins or something in a game, but the tether to a meat space item is still dependant on enforcement of the law - and if it is the lawmakers confiscating your meat space property, pointing to your coinbase wallet does nothing.

And if it is a normal person stealing it, the NFT become nothing more than a receipt that corroborates a host of other evidence.