> We have seen with MP3 that this can work, just in that case the MP3 itself was used as the ownership token to move content to other services.
In the early 2010s or so, companies like Amazon, Google Play Music, etc briefly offered the ability to scan your MP3 collection to instantly get access to your music via their library as a way to suck you into your ecosystem.
It was neat, but all of these services have since switched off because it was just a means to get you hooked on their platform. It all went away because there was no on-going business case to support it . Now all that remains are a few scattered "digital locker" services where you are just streaming your own files back to yourself instead of using them to unlock a music library. Otherwise, you are locked into replacement streaming platforms with the same limitations as before.
The point is that NFTs solve a problem that already has other solutions - keeping track of who paid for something is relatively easy. The hard part is actually providing the product that was purchased in perpetuity. NFTs don't yet have an answer to the harder part of the problem that is profitable for a business.
In the early 2010s or so, companies like Amazon, Google Play Music, etc briefly offered the ability to scan your MP3 collection to instantly get access to your music via their library as a way to suck you into your ecosystem.
It was neat, but all of these services have since switched off because it was just a means to get you hooked on their platform. It all went away because there was no on-going business case to support it . Now all that remains are a few scattered "digital locker" services where you are just streaming your own files back to yourself instead of using them to unlock a music library. Otherwise, you are locked into replacement streaming platforms with the same limitations as before.
The point is that NFTs solve a problem that already has other solutions - keeping track of who paid for something is relatively easy. The hard part is actually providing the product that was purchased in perpetuity. NFTs don't yet have an answer to the harder part of the problem that is profitable for a business.