this post was submitted on 26 Feb 2026
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The correct understanding of NFTs has always been trivial: they're certificates. What they certify is not determined.
Anyone telling you anything else is either lying, or a moron (or has been lied to, which is not incompatible with being a moron).
Isn't it basically just a receipt?
It's more general than that; a receipt is like a certificate that certifies that you bought something, but an NFT could certify something else.
Provenance is a major issue in art. NFTs provide the best provenance yet.
Pretty much. They basically serve the same purpose as Copyright Registration. If there is a question of who holds the rights to a work, I can submit my copyright registration as evidence that I claimed the work at that specific date and time. If you can conclusively prove you had it earlier, my later registration is irrelevant.
You creating an NFT of the work and putting it on the block chain before my registration with the copyright office would conclusively disprove my own registration claim to being the original creator. NFTs could be used as evidence of prior art.
NFTs could also be used as evidence of intent to transfer the copyright of a work to another.
Keep in mind, NFTs are evidence, not proof. I could submit an NFT before a court in a court to support my claim of copyright, but the court is going to weigh my evidence against all the other evidence in the case. My ownership of an NFT of my work is not going to replace my signed and notarized agreement to transfer the copyright of the work to someone else.
The type of use case I see it could be good for is Software ownership. One could sell his copy of a game or give it to someone else by exchanging the token and the software could use it to validate ownership.
It's a bitcoin that can't be swapped for other bitcoins, right?
Yes that's also true... I would venture that it's not as useful in general to understand the concept though :)
Yuppp
The anti-NFT crowd won with lies, helped by the loudest pro-NFT voices also being absolute morons and focusing on the dumbest possible ways to actually implement it.
Let it go man, the NFTs aren't coming back.
Good ideas never die ;)
To be clear I didn't get into "NFTs" during the craze at all because I knew what NFTs are supposed to be and personalized pictures of monkeys is not it.
At the same time it was hilarious how stupid the arguments on both sides were.
You sound like someone who thinks an nft is something other than a certificate.