What do we actually own when we buy NFT? and why are people buying it? these are the questions I got in my mind when I hear people buying NFT for millions of dollars.
According to Daniel Khun from an article he wrote on coindesk:
An NFT is a type of digital asset that lives on a blockchain. It has a monetary value and is useful to authenticate and track the provenance of another piece of digital media. That can be JPEGs but also music files, or really anything else that can be saved to a hard drive. But an NFT is not the underlying media itself. That’s the second point.
What you do own when you buy an NFT are the keys to a non-fungible – perhaps unique – token. That token is yours to trade or hold or display in Decentraland.
Ownership. That’s what we get example: think if you buy a Bored Ape NFT, that ape is yours. But, still the intellectual property belongs to the creators of the Bored Ape Yacht Club
