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The asset is more akin to a deed or a claim. Most NFTs are images hosted on S3 or IPFS. The blockchain entry is metadata with a pointer to the hosted asset.
by uproarchat 23d ago
The asset is more akin to a deed or a claim. Most NFTs are images hosted on S3 or IPFS. The blockchain entry is metadata with a pointer to the hosted asset.
- jdiff 23d agoThe NFT is the metadata. The metadata is the token that cannot be funged. The image is a wholly separate thing that a token points at, and multiple tokens can point at the same thing just fine. NFTs be be funge-free but images are fully fungible.
- Macha 22d agoThe value of the deed is it being backed by the legal system as proof of your ownership, up to potentially being enforced with government use of physical force.
- 0x457 20d ago[flagged]