Replace “token” with “title” and “monkey” with “car,” and you’ve got a formula most people understand.
I own the title, but I don’t own the car.
Unlike the monkey, you can go find the car in the real world.
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Zwiebel@feddit.org 6 hours ago
Still false, you own the token representing the monkey but not the monkey itself
Replace “token” with “title” and “monkey” with “car,” and you’ve got a formula most people understand.
I own the title, but I don’t own the car.
Unlike the monkey, you can go find the car in the real world.
But eventually you own the car. You never own the monkey.
Nooo bro, I totally OWN that jay-peg bro, you can look it up bro, the token is non fungible bro, do you even know what that means, bro?
FishFace@piefed.social 6 hours ago
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).
Grail@multiverse.soulism.net 2 hours ago
It’s a bitcoin that can’t be swapped for other bitcoins, right?
FishFace@piefed.social 2 hours ago
Yes that’s also true… I would venture that it’s not as useful in general to understand the concept though :)