Like i already said, you don't own the picture but you own the link.
Concept of owning nfts is debatable becayse it all comes to definition of digital "owning". You don't own the files in a classical sense, and that wouldn't even make sense. You however own the rights to trade it for example. And if we are talking about current usecases, there are now over 10 million reddit nft avatar holders.
There are non-nft avatars in reddit too that you can use to build your avatar. But if you are using NFTs to build your avatar, you can get some rare ones that are very much wanted.
If you are wearing nft avatar you can choose what parts you are wearing from it, and you can combine different nfts. NFT avatars shows up differently and you can't fake wearing them. Those are freely traded in opensea and i think it's one of the first actually cool adopted usecases for nfts. You "own" those NFTs as long reddit is alive and i am thinking it will definitely last for several generations.
And NFTs are just starting, now there is ERC-6551 coming and that's unlocking ton of new possibilities. But i'll wait for it to be tested before i'll get too ecxited
Concept of owning nfts is debatable becayse it all comes to definition of digital "owning". You don't own the files in a classical sense, and that wouldn't even make sense. You however own the rights to trade it for example. And if we are talking about current usecases, there are now over 10 million reddit nft avatar holders.
There are non-nft avatars in reddit too that you can use to build your avatar. But if you are using NFTs to build your avatar, you can get some rare ones that are very much wanted.
If you are wearing nft avatar you can choose what parts you are wearing from it, and you can combine different nfts. NFT avatars shows up differently and you can't fake wearing them. Those are freely traded in opensea and i think it's one of the first actually cool adopted usecases for nfts. You "own" those NFTs as long reddit is alive and i am thinking it will definitely last for several generations.
And NFTs are just starting, now there is ERC-6551 coming and that's unlocking ton of new possibilities. But i'll wait for it to be tested before i'll get too ecxited
The concept is cool. But we're yet to see the government becoming part of this trend. So far, the vast majority of NFTs being traded on the market are nothing more than a scam. Nowadays, anyone can make an NFT using a picture/image found on the web. This bloats underlying blockchain networks with many unecessary junk. Things are only getting started, so I have high hopes the NFT industry will improve in the long run.
May I ask if the ERC-6551 is what Vitalik calls "Soulbound Tokens (SBT)"? These might become the next big thing in crypto land, as Universities/Colleges and other institutions use them for their own benefit. SBTs might prove to have better use cases than NFTs over time. Who knows when the SBT hype will begin?
