At the moment, it is not possible to sell a 2nd hand eBook or MP3. This seems fairly reasonable because a re-seller might keep copies of their origina

NFTs means the future value of art is zero

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Style Pass

2022-01-20 13:00:03

At the moment, it is not possible to sell a 2nd hand eBook or MP3. This seems fairly reasonable because a re-seller might keep copies of their original files after selling them. This would allow the re-seller to undercut the original publisher and sell the file multiple times.

The Blockchain book that I'm reading suggests NFTs as a way to combat this (stop giggling at the back). Let's say that we replaced every MP3 player with an NFT player. You load your file onto your NFTman, sign in with your wallet, and it checks whether you have the rights to play that piece of music.

Later, you decide to re-sell the digital album. Your NFTman refuses to play the files because the BlockChain says you're no longer the owner.

But, here's the thing… you can only listen to one album at a time. That huge collection of music you have is mostly sitting idle. So why not turn your library into a tradeable asset?

With a CD or vinyl collection, this is impractical. It is physically and logistically difficult to sell things. And if you decide that you want to listen to an album you sold, you have to go through the effort of buying it again.