At least physical land is an inherently non-fungible thing, while NFTs are only a non-fungible piece of code people claim ties to something else of value. The real original NFTs are intellectual property, as they’re just the government saying you can’t copy things that are totally possible to copy.
At least physical land is an inherently non-fungible thing, while NFTs are only a non-fungible piece of code people claim ties to something else of value.
Well its really the land “deed” you own, which is entirely fungible (though managed as a non-fungible item through state enforced violence).
The NFT is a non-fungible paper that says “you own this thing everyone can use”, and as soon as you make that thing private, the NFT instantly loses its value.
A land deed is a “non-fungible” paper that says “you own this thing everyone can use”, and as soon as you make that thing private, the deed massively appreciates in value.
Well, yes, land is managed through state enforced violence but also the laws of physics.
There’s only so much that can fit on an area of land. If I build a house that takes up the full extent of the property, then nobody else can use the land for, say, a parking lot without me removing my house first. Every bit of land used/bought is a reduction in the amount of land left to buy.
But a JPG can have unlimited copies made of it, providing unlimited storage. If I make a copy of a NFT image, I don’t deprive the owner of the image. If I buy a piece of land and use it, I’m kind of depriving others from use of that land.
At least physical land is an inherently non-fungible thing, while NFTs are only a non-fungible piece of code people claim ties to something else of value. The real original NFTs are intellectual property, as they’re just the government saying you can’t copy things that are totally possible to copy.
Well its really the land “deed” you own, which is entirely fungible (though managed as a non-fungible item through state enforced violence).
The NFT is a non-fungible paper that says “you own this thing everyone can use”, and as soon as you make that thing private, the NFT instantly loses its value.
A land deed is a “non-fungible” paper that says “you own this thing everyone can use”, and as soon as you make that thing private, the deed massively appreciates in value.
Well, yes, land is managed through state enforced violence but also the laws of physics. There’s only so much that can fit on an area of land. If I build a house that takes up the full extent of the property, then nobody else can use the land for, say, a parking lot without me removing my house first. Every bit of land used/bought is a reduction in the amount of land left to buy. But a JPG can have unlimited copies made of it, providing unlimited storage. If I make a copy of a NFT image, I don’t deprive the owner of the image. If I buy a piece of land and use it, I’m kind of depriving others from use of that land.
The violence is optional and it also need not be the state itself supplying the violence, depending on the jurisdiction.