If you buy this, you are scammed.
this post was submitted on 31 Jul 2023
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I think the biggest place it has genuine benefit would be for something like deeds to homes, titles for cars and stuff like that. A permanent, auditable and public system for tracking the transfer and ownership of things.
Unfortunately it comes with its own caveats, such as “what if I lose the wallet containing the deed to my home, and I want to sell it?”
I never really understood the whole thing about picture based NFTs though.
We already have that without adding a completely useless layer of complexity. You've been able to look up property records online for decades. NFTs would add zero value to that system, and as you've correctly pointed out, have serious dowsides including lost, hacked, or stolen tokens.