[endisneigh]

again a deed is referring to a specific thing. a photocopied deed is not a deed anymore than a photocopied dollar bill is legit money. in other words a deed is already authorized by definition.

if you have an authority to confer rights then the NFT itself was unnecessary to begin with.

anyway, the original point I was trying to make is that situation you described (selling a deed to a house you don't own) doesn't make sense since by definition the own who does not own the deed can not sell it. if, somehow the sale did go through, the original owner could easily get it back. this situation is not possible with NFTs without a central authority, but with a central authority NFTs would not be necessary to begin with.

[vaer-k]

A deed does not refer to a specific thing. It only does so in daily life as a matter of convention. It is the authority of the banks or the government or whatever that gives your particular deed any weight at all. A deed, like a dollar bill, is a piece of paper with no value. Indeed, a photocopied dollar bill has no value whatsoever. It is only our collective agreement to pair value with officially recognized papers that grants those papers value.

The situation I described does make sense, because it's exactly what we are circling around here. Anyone can sell anything; it is merely a question of whether the sale will be recognized by the parties that matter. An NFT is necessary because it distributes the transfer and sale of things without a central intermediary. There is and always will be a required authority to recognize the value of a given NFT, however.

Note that these two ideas of central authority are not equivalent. In one hand, you have a centralized authority over trade; in the other, an authority over value. Note also that in the case of NFTs, there is no "one central authority who governs all value", but instead many authorities, i.e. the creators! The artist or creator of a given work is free to recognize the NFTs that grant ownership of their creations. It is they who have the power of authority.

[endisneigh]

> A deed does not refer to a specific thing. It only does so in daily life as a matter of convention. It is the authority of the banks or the government or whatever that gives your particular deed any weight at all. A deed, like a dollar bill, is a piece of paper with no value. Indeed, a photocopied dollar bill has no value whatsoever. It is only our collective agreement to pair value with officially recognized papers that grants those papers value.

What? A deed, per common law, is a legal instrument which affirms ownership of something. I'm not going to talk about value as that is independent of the purpose of a deed (you could have a deed to something that everyone agrees is worthless, but regardless you are the owner according to the government(s) in question)

Again, if you have a central authority an NFT is unnecessary and pointless to begin with. Nothing you've said really refutes that. All of the functionality of an NFT can be trivially replicated by a central authority, and indeed it already is.

> Anyone can sell anything

No, they can't. By your own logic, anyone can do anything. Surely you already see that is not true. We live in reality, and in reality others must recognize actions in order for them to be recognized as legitimate.