Recently, NFT has continued to be hot, but the question that follows is what investment value does NFT have?
From the perspective of minting and issuance, NFT is a digital token that can represent the ownership of a certain basic asset, so it is a symbol of ownership.
For example, Leonardo da Vinci’s masterpiece “Mona Lisa” can have many identical copies, and these copies have little value. But in the digital field, if you want to authenticate the original version of “Mona Lisa”, NFT should be a better way.
Because in the real world, it is very troublesome for us to verify the authenticity of the original. If we want to verify the “Mona Lisa”, we must give proof of authenticity in each paint on the canvas, and even perform X-ray irradiation. Verification and so on.
In contrast, NFT is a digital ownership token. If you purchase NFT, it means that you own the work, which is a kind of institutional trust.
At the same time, you own the NFT, but it does not affect the access rights to other people, which means that everyone can watch the painting, but in fact the ownership and access rights of the NFT are separate.
In the traditional real world, you can buy a ticket to the Louvre to enjoy the original work of “Mona Lisa”; in the digital society, you can own a work of art for everyone to enjoy for free or for a fee. At the same time You can also transfer transactions or auction transactions.
The biggest problem at present is that NFT is issued based on blockchain technology, which will change many traditional legal and commercial structures, and the cost of making such changes is huge. You must know that these legal and commercial structures We have used it for many centuries.
Looking back at past business cases, the first people to design the NFT prototype were New York University professor Kevin McCoy and technical expert Anil Dash Anil Dash.
In 2014, there was a group of digital artists who created and distributed millions of pure digital art works, and then uploaded them to multiple microblog sites on the Internet. Many works began to be widely reprinted in the community, but these works were basically unsigned, There is no background information such as the author.
This New York University professor and technical expert believes that artists should claim ownership of their works. Therefore, they designed a solution, namely: generate a token representing the ownership of digital assets, and then attach the token to a freely tradable blockchain, thereby creating a powerful digital ownership trajectory.
This was the first person to design a prototype of NFT, and wanted to solve the problem of the attribution of works of art on the Internet. Up to now, there are mature technical conditions that can be achieved, but the entire market is not as vigorous as it was in 2014.
Of course, we always believe that exploring the value of NFT is a very necessary and interesting thing at the time when the digital society is gradually formed, and we will continue to explore and implement it.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.