> It accepts that digital recreations are easy and doesn't seek to prevent them yet still provides scarcity and reward for the effort in producing it.
I like this description quite a bit. Im obviously a believer already, but this is a good way to describe the value potential of blockchain based NFTs.
Slight digression, but personally I hate the way scarcity always makes its way into the conversation due to the obsessive discussion of deflation, but I think in the case of NFTs it fits well.
I'd rephrase your statement as saying that NFTs using blockchain protocols preserve the scarcity of owning an asset. Then extending that, digitally verifiable proof of the scarce resource (i.e. ownership) is the aspect that can create an economic incentive for ownership.
I like this description quite a bit. Im obviously a believer already, but this is a good way to describe the value potential of blockchain based NFTs.
Slight digression, but personally I hate the way scarcity always makes its way into the conversation due to the obsessive discussion of deflation, but I think in the case of NFTs it fits well.
I'd rephrase your statement as saying that NFTs using blockchain protocols preserve the scarcity of owning an asset. Then extending that, digitally verifiable proof of the scarce resource (i.e. ownership) is the aspect that can create an economic incentive for ownership.
Well said!