So nfts, a fiat currency derivative, gold or a real estate claim, rely on a central authority being trusted to either keep a database or a stock of whatever physical thing it is meant to represent in the real world.

We've reintroduced the need for a central third party.

What's gained? The ability to transfer things 24/7 and potentially in smaller fractions?

Well yes, but this could all be done on a website that refers to a database. The only difference seems to be that they can pretend to be like Bitcoin and it takes two short notes to think through the difference.

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