If digital art is as valuable and worthy of recognition as physical art, then look at it through lens of the difference in price between the original Mona Lisa and replicas of it.
I absolutely think that digital art is as valuable and worthy of recognition as physical art. My wife is an artist (oils and water colors, not digital) and we've discussed it at length that the skill and talent required to create digital art imparts equal value. I'm not arguing against that (I'm not saying that's what you're saying either, but just to be clear for folks who read the comments).
But...I do not see the value in being able to "prove" that you own said artwork...because you can't do it...Globally, the number of people who know what Ethereum or any other block-chain technology means is probably what..many thousands? Maybe..maybe a few hundred thousand? And of those the subset of people who actually care...I'm sure is far fewer. So you can only verify yourself as the "owner" of said art to a very small subset of people...
I guess it's like a collector community? People are willing to spend literally millions of dollars to prove to other collectors that they are the owners of these digital assets?
Yes. People will spend millions of dollars on this because belonging to a community is about the most meaningful experience we can have. People will dedicate themselves to that sense of being. See football clubs, churches, political parties, chess clubs…
We spend our lives on computers, digital artefacts and communities will come to be the most expensive items ever.
This has been coming a long time. I have about 3000 hours in guild wars 2, when I log in I’m always so happy I have my legendary longbow. If they’d have been nfts that would be amazing. I’d love for that metadata to travel with me across other digital worlds.
Digital art is and should be valuable, but how is owning an NFT proof of ownership if no one recognizes it as such? If I own a NFT I get no real world ownership benefits (like displaying it on my website, or in my metaverse). The NFT can be deleted by the host and I have no recourse.
But...I do not see the value in being able to "prove" that you own said artwork...because you can't do it...Globally, the number of people who know what Ethereum or any other block-chain technology means is probably what..many thousands? Maybe..maybe a few hundred thousand? And of those the subset of people who actually care...I'm sure is far fewer. So you can only verify yourself as the "owner" of said art to a very small subset of people...
I guess it's like a collector community? People are willing to spend literally millions of dollars to prove to other collectors that they are the owners of these digital assets?