Post
Topic
Board Altcoin Discussion
Re: NFTs for physical assets - the future of NFTs??
by
ccryptopark
on 13/09/2021, 17:55:56 UTC
I sorta agree. Collectibles are limited. But if we’re thinking high value goods like art, jewelry, Pokémon cards, it’s a lot of work to insure and ship back and forth. Why not send it to someone like 4K to authenticate, store, and issue an NFT? That way if you sell the NFT the buyer can do the same or burn the NFT to redeem the actual item. There’s really a one time cost of sending it in.

Not to mention that auction houses charge obscene amounts to sell high end items. Using blockchain cuts down fees (I imagine) by like 99%

I think there's no need for that as it normally becomes collectible if an item physically is limited. You don't have to put that as an NFT because you can keep or buy it as is. That depends on the manufacturer or maker or seller of that item if it's limited and that's why most NFTs are worth it because they're limited-made. Maybe, someday in the next years that there will be a physical NFT that they have to integrate because they're looking at it as another trend to adapt.