You can have a jpeg. Thats not the original traced through provenance. This isn't new this is years of experience. World class museums and high value collectors understand this and have bought pieces.
Discussion
Good points.
In ordinals/inscriptions case I believe the data is in the witness, so it lives in the transaction ID, but not in the UTXOs….. so it’s not really “on the blockchain” in bitcoins case. See Guy Swan’s latest on this.
We will see if these things will hold their value overtime. I’m betting no. Might take a few more years for this to play out.
Thanks for the thoughtful exchange.