Quote from: Torque on Today at 01:00:11 PM

Quote from: bitcoinPsycho on April 14, 2022, 04:24:50 PM

Quote from: Torque on April 14, 2022, 04:13:57 PM

Quote from: empowering on April 14, 2022, 04:01:35 PM

I mean a NFT that represents a real world asset is sorta more interesting......

Is it now?

Here is my NFT for sale for a 1000g gold bar. I'll even sell it to for 20% off of spot price....

I think your missing the point. Nft as a public register for land/property etc can be very useful

No, it can't. Just saying that doesn't make it true.

Because a legal property deed is legally binding and can be defended in a court of law.

An NFT is not "useful". At all. Period. It does not give the owner any exclusive legal rights to the thing it points to, and cannot be legally defended in a court of law.

If anyone is missing the point, it is not me.

Thing is, things develop and things change, so I do not imagine the deed issue being around for too long... and there are workable workarounds, for example, in the US at the moment you are correct re the deeds they cannot currently be linked to NFTs (yet) .... however what can and had been done is that the property (if we are talking real estate) , is first transferred into a LLC, and then the company, is then minted to a NFT, and it is this company that is bought or sold, and rights to the company (and therefore the property are stored on the blockchain)

.... and I think there is a good chance that this space will continue to evolve.

There are also solutions for tokenised/nft for equity release from properties too.. which again has the potential to evolve going forward.

....and as mentioned in previous post, I am pretty sure that we will be seeing this within the art collection industry too, and possibly wine also.

....could all this be done using tokens/smart contracts and sans "NFTs" yeah totally..

Anyways we shall see what the market thinks of such things going forward as things evolve... and that will answer the question one way or another.