I've never bought an NFT - but do people actually look at block addresses to validate things like this?
I just read https://networked.substack.com/p/web3-i-have-my-daots and there's a cute analogy about buying the Mona Lisa, but only getting a record written in some obscure room saying that you own it, i.e. you never actually take possession of the Mona Lisa. You can tell people you own it, but they have to go the obscure room and verify your ownership. Who would do that, for literally anything, especially a jpg?
I forget the name of assets that designed merely to show wealth (e.g. a Hummer), but those work because everybody sees you with that asset, constantly. For NFTs to work in the long term, you would have to expect people to validate authenticity of these things.
Yes, it's very common to look at the address of an NFT before buying it. Marketplaces do this for you and provide a "verified" badge for NFTs that match well-known collections. No one would mistake the NFT minted on this website for the originals and they would get flagged as scams pretty quickly.
It's a different token, but I think the only difference is token id and creation time. In all other respects it's identical. It's like having two brand new dollar bills, but they have different serial numbers.
I just read https://networked.substack.com/p/web3-i-have-my-daots and there's a cute analogy about buying the Mona Lisa, but only getting a record written in some obscure room saying that you own it, i.e. you never actually take possession of the Mona Lisa. You can tell people you own it, but they have to go the obscure room and verify your ownership. Who would do that, for literally anything, especially a jpg?
I forget the name of assets that designed merely to show wealth (e.g. a Hummer), but those work because everybody sees you with that asset, constantly. For NFTs to work in the long term, you would have to expect people to validate authenticity of these things.
edit: Veblen is what I was looking for. https://en.wikipedia.org/wiki/Veblen_good