You pay for a physical non-fungible item

tmaslima01928@g

Such as a physical painting, and then you get the rights to that painting. Now you can keep that painting in your drawing room. Historically, people have been primarily inclined to own and trade physical goods. This is probably because physical objects attract us. But, ownership of digital goods is a bit tricky in the real world, which we will discuss below. What is Digital Ownership? By digital ownership we mean that we have permission to access and/or use data, information and knowledge about ourselves or the things we own. We can also grant or revoke rights to this data. Digital ownership is a layer of the Internet of Things (IoT).


If you're a Netflix user, do you own movies and shows or have access to shows available on the platform? If you're a Spotify user, do you own the songs or just have access to listen to them? If you buy an eBook from Kindle, are your ownership rights the same as the Denmark Phone Number Data physical copy of that book? What will happen to eBooks if the Kindle platform shuts down? So, do we actually own the digital assets discussed above? The answer is No, we do not own these properties, but have only purchased access to these properties. For example, Twitter founder Jack Dorsey's first tweet has been sold for the equivalent of $2.9 million. What is NFT? How do NFTs work?



2 FILE PHOTO: “EVERYDAYS: THE FIRST 5000 DAYS” is a collage, by a digital artist BEEPLE, that is on auction at Christie’s, Everydays: The First 5000 Days, a digital image by artist Mike Winkelman (aka Beeple), sold for $69.3 million at high-end auction house Christie's. NFT sales exceeded $2 billion in the first quarter alone. However, large amounts of money are currently being spent for single pieces, leading to overall misconceptions about the value of NFTs and their importance in the market. Therefore, we can comfortably conclude that ownership of digital assets in the real world is mostly an illusion and is nothing more than “access rights”. So, what could be the possible solution? How can we actually own an asset in the digital world?