NFTs Aren’t Going Away, They are Important Tools of Digital Ownership

NFT non-fungible token

Alexander Lange wrote an essay on NFTs, saying that they aren’t a fluke and will change the way we experience and own digital media.

Just like DeFi’s money legos are about to revolutionize finance, media legos will deeply alter the social layers of the web. They will change how creators issue, distribute, and monetize their work while defining new rules for content exploration, collecting, and community building.

I agree. NFTs aren’t going away. In an age where possessions such as music, photos, books, videos, etc. are being stored and kept in “the cloud,” we have to find ways to prove that we own these things. Right now, ownership is tied to identities like an Apple ID. I can prove that that eBook is mine because it’s in my purchase history. But what if I export that eBook to a flash drive as a backup? Or what if my Apple ID is deleted? It also facilitates direct creator-to-buyer transactions. I can buy an eBook from an author without needing a middleman like Apple Books, and its accompanying NFT proves my ownership. That’s what crypto is all about: Cutting out middlemen like banks and corporations.

Check It Out: NFTs Aren’t Going Away, They are Important Tools of Digital Ownership

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