The most obvious advantage of NFT’s over other non blockchain means of asset ownership, think Walled Gardens like Apple and Steam, is that NFT based systems provide more utility and value to the consumers and producers using these kinds of systems while cutting out much of the bloat and waste of middlemen. Middlemen like Steam and Apple’s Itunes(is that what it is still called?) will be forced to change relationships with their consumers and creators.
When the consumers learn that they can sell their Shakira album after they get tired of it, more will start preferring all of their new albums or songs as tokens and will migrate to digital fronts that offer them as NFT tokens. *You could gift it to a friend, or even loan the token out with a smart contract and have it function like a rental.
Creators when going to sell their work, be it an mp3 of their new song or the video game their team just finished, instead of going through a publisher who negotiates with Steam on your behalf or just going with Steam’s cut of the sales of your game they can opt instead to release their games as NFT’s and not worry about esoteric or shady contracts. If Apple is going to continue to take 30% of my game’s revenue from me I will likely incentivize my audience to buy it from me directly as an NFT instead. The creator can also opt to get royalty fees on future transactions of their NFT as tokens get traded among the market. For you technical people out there who are going wait a minute who is going to actually be sending me this digital content to download, peer to peer systems are going to become ubiquitous and more reliable/fault tolerant than even the most robust centralized hosting platforms.
The endgame with this facet of NFT’s is that the Apples and Steams of the world start to lose their power and are forced out of the mainstream and are relegated to becoming boutique experiences, whom will likely be forced to adopt NFT’s anyway. The mainstream consumers and creators are going to gravitate towards decentralized marketplaces and hubs where low costs are priority number one.
Establishment Walled Gardens cannot compete with the NFT model of asset distribution. To even offer the same services sans NFT’s creates mountains more overhead. For example, they have to worry about more contracts to manage their garden’s walls, that means you need to have more lawyers, you need more accountants, you need more admins for all the things your workers are doing, you need more HR people to do HR things for the extra people. You need Finance people to make sure there is liquidity in the system to support your customers’ trades on your marketplace and people to manage it. You need auditors and managers to make sure all these extra people are doing things correctly. You have to worry about having the capital on hand to facilitate all of this and the projects to source that on occasion. The list goes on. Obviously large businesses have lots of this already, but tokenization on blockchain can cut a lot of of these needs out of the picture substantially. Businesses or independent creators that just take the simple route and adopt NFT’s don’t have to bake those costs into the product they are offering and offload that onto their consumers. The users of NFT’s will be able to offer a less expensive product than the ones that don’t use NFT’s.
This is just scratching the surface of a few facets of NFT’s but they have major uses in other models of corporate/business structure, law and government administration, equities, real estate, social media, security, probably everything to some degree with how connected everything is. Wall Street will be compressed and contorted in the most satisfying way.
NFT’s will be more transformative than the widespread adoption of the internet and maybe even personal computers when it comes to the structuring of our economies and the jobs our white collar laborers do. NFT’s will eventually connect everyone and everything of value to one another with an open, secure, immutable standard. The gatekeepers that currently connect and arbiter our participation in society simply won’t be able to compete. The tech giants that rose to power with the advent of the personal computer and internet like Google, Microsoft, Amazon, Apple, the ones that write our laws, the ones that control what the masses believe… they will be made obsolete and eventually powerless if they do not adapt to the advent of blockchain by the ones who beat them to it.
Brick by brick Game Stop leading this front is going surpass your imagination. NFT’s are going to be the foundation of the new world.
The people opposing NFT’s and blockchain are similar to the ones opposing cars when people were already so privileged to have horses and should just be happy with horses because horses are so damn cool and cute and friendly… horses are good enough damn it just stop talking about cars please.
You are going to own the world in every sense with GME. Can’t Stop Won’t Stop.