> However, I feel like many people argue that the digital release via NFTs would be worth less because all you have to show for your ownership is a digital token
Correct. I value my vinyl copy of "Live Dead" by The Grateful Dead because I have had it for nearly 50 years, have played it countless times, rolled joints on it, and even like the scratches. It's also something that cannot be exactly copied, given current technology.
Having said that, most of my music is on MP3s, but the idea that referring to them via some block chain crap will give them "value" is just silly.
> Having said that, most of my music is on MP3s, but the idea that referring to them via some block chain crap will give them "value" is just silly.
I think the point here is that verifying ownership of digital goods is hard, because they are so easily reproduced identically. Blockchain technology and NFTs are one way to solve this problem because it allows you to have a verifiable chain of ownership which cannot be modified or faked. (ie. if a music release was as simple as the artist distributing an MP3 to 10 people, it would be impossible to tell who actually owned the "original" MP3).
Is it unreasonable to think that in 50 years, someone might look back at the limited digital release they got of their favourite album as fondly as you look back on your Live Dead record, and then pass that digital ownership down to their next of kin? It's a concept that's been explored time and time again physically but seems weirdly uncharted for anything digital.
Surely it depends on how much you like the music?
> However, I feel like many people argue that the digital release via NFTs would be worth less because all you have to show for your ownership is a digital token
Correct. I value my vinyl copy of "Live Dead" by The Grateful Dead because I have had it for nearly 50 years, have played it countless times, rolled joints on it, and even like the scratches. It's also something that cannot be exactly copied, given current technology.
Having said that, most of my music is on MP3s, but the idea that referring to them via some block chain crap will give them "value" is just silly.