I think, at least for now, it's not that easy: Imagine you buying a Hermes bag verified by an NF-Token. Then you sell the original bag to some lady but keep the NFT (now the lady has an original Hermes bag, which passes every test of being made by Hermes, to show off). Then you buy a good copy of the bag (in Turkey they are doing nearly perfect copies) and sell this copy together with the token to another lady, who now may prove, that she owns a real Hermes bag. The tokenization of real world objects seems to be tricky but perhaps possible. Think of a painting: To avoid the double sale you might include into the NFT a unique file, which cannot be compromised. Imagine the painting having been scanned with this technology https://artmyn.com/solutions/collectors/. If you now sell a copy of your Picasso together with the NFT you got from the auction house, you bought the original from, the scan attached to the token would differ from a scan taken of the copy. But you still would need a middleman for the transaction: Someone, who receives both the buyer's money and the seller's object to verify the originality of the object and transfer the money on that condition. But this solution contradicts the very idea of a blockchain transaction.
There's definitely some overlap in how these categories collide. I actually included entertainment as a category in an early draft, but felt it was too small to break out for the current market. In time, there may be a definite entertainment space.
For now, I'd put them in collectibles given they leverage traditional media as a key part of their strategy. Thanks Charles.
I think, at least for now, it's not that easy: Imagine you buying a Hermes bag verified by an NF-Token. Then you sell the original bag to some lady but keep the NFT (now the lady has an original Hermes bag, which passes every test of being made by Hermes, to show off). Then you buy a good copy of the bag (in Turkey they are doing nearly perfect copies) and sell this copy together with the token to another lady, who now may prove, that she owns a real Hermes bag. The tokenization of real world objects seems to be tricky but perhaps possible. Think of a painting: To avoid the double sale you might include into the NFT a unique file, which cannot be compromised. Imagine the painting having been scanned with this technology https://artmyn.com/solutions/collectors/. If you now sell a copy of your Picasso together with the NFT you got from the auction house, you bought the original from, the scan attached to the token would differ from a scan taken of the copy. But you still would need a middleman for the transaction: Someone, who receives both the buyer's money and the seller's object to verify the originality of the object and transfer the money on that condition. But this solution contradicts the very idea of a blockchain transaction.
Anyway: I like your insights! Klaus
How would luxury cars turn into NFTs other than pure art? What kind of utility could there be?
Great insight. I'm curious, what category would you put NFT projects like Stoner Cats and Glue Factory in? Collectibles or Luxury?
There's definitely some overlap in how these categories collide. I actually included entertainment as a category in an early draft, but felt it was too small to break out for the current market. In time, there may be a definite entertainment space.
For now, I'd put them in collectibles given they leverage traditional media as a key part of their strategy. Thanks Charles.
That's what I assumed as well. Thanks for the reply. Great blog!