Quote:
Originally Posted by Fuzz
So what is stored on the blockchain then? It sounds like a link to the artwork, not the artwork itself. Perhaps a hash as well? But if the original file is no longer hosted at the link, all you have is ownership of a URL, pointing to calgarypuck.com/awesome.jpg. And if Calgarypuck disappears, what are you left with? Sure, you can transfer a dead link to someone else, but the item you own no longer exists.
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The blockchain shows which wallet at the end of the chain holds the rights and ownership of the JPEG. The blockchain simply shows all the transactional data of where the artwork was owned and by which wallet.
In your example the awesome jpg is what you have ownership to. You could print it or frame it or put it as your desktop saver. At the end of the data its the fact that you purchased the ownership rights to it.
A really good example of NFTs is a website called NBA Top Shot. Think of it as trading cards back in the day but rather than cards they are 'moments'. These moments are 10 - 20 second replays of games and come in 'packs' similar to sports cards back in the day. They are supported on the back end by a blockchain and track ownership. At the end of the day the NBA has licensed these and anyone who owns the moments has the rights to them.
https://www.actionnetwork.com/news/n...d-company-2021