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nft.md

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nft.md

Thoughts on NFTS

What are non-fungible-tokens?

Non-fungible tokens allow people to frictionlessly transfer control of scarce, useful assets.

Corollaries

  • The amount of value delivered by NFTs is positively correlated with
  • the value created by reducing the friction of transferring the asset
  • the value of controlling the asset must provide some benefit.

Examples of assets whose control can be transferred,

  • If I control a computer I can use it to render 3-d video, host content, etc.
  • If I control software license, I can legally use that software.
  • If I contrel copy-righted media, I can charge fees for the user of the media.

Implications

  • Techonolgist interested in using NFTs should look for assets the are scarce assets that deliver value to the person controlling them.

Business Model - Tracking software licenses

Create a market for intellectual property licenses. Tie each license to an NFT. The owner of the coin can prove ownership for any time period, and their is a frictionless method, a market even, for buying and selling the coins.

Proof-of-concepts of this approach have been done.

Tickets to sporting events / concerts

Control is important here! Only one person per ticket is admitted. Scalpers often exchange tickets, trade them, etc., so a fraud-proof, frictionless solution would be valuable. Pair it with a slick app for rendering the QR code that is scanned.