NFTs are boring, NFTs are revolutionary - my guest blog on OpenSheetMusicDisplay.org

As a guest blogger, I have published NFTs are boring. NFTs are revolutionary! on the OpenSheetMusicDisplay.org blog. The main points in the article are that posessing something unique on the Internet is not new, per-se. We do that all the time with domain names, email addresses, and phone numbers. I also touch on the fact that NFTs don't magically create actual rarity and scarcity of digital assets, especially if the popular mode of storing them on IPFS continues.

My guest blog on OpenSheetMusicDisplay.com

The magic of NFTs, rather, is that they are decentralized and provable. Your domain and email address are just rented to you by organizations whom you have to pay (in advertisement attention or in fiat). With NFTs, the record on the blockchain can't be taken away from you.

And, like it is with emails, the real power in owning an NFT will likely not come from its primary intended purpose. Email's primary intended purpose was sending messages and file attachments. But email addresses arguably have more value as an identity provider. If you made me chose between losing my ability to send emails, or my ability to log into sites with my email, I'd do without the actual emails. My address as an identity is more valuable. I can send texts in other ways.

I expect NFTs to develop similar utility as identity bearing tokens, and to gain use in unlocking features on apps and websites. That will be more interesting (to me) than the collectibles and art works that are gaining most of the focus now.

Finally, the ultimate use of NFTs is going to be to replace everything that is a deed, license, receipt, bond, warrant, identity card, membership card, and anything similar. All of those will simply be NFTs that come with enforceable bindings to their purpose (the deed NFT will be proof of ownership of your house). At that time, NFTs will be so important to us as to be quite boring indeed.

PS: Why did I blog on OpenSheetMusicDisplay.org? It has everything to do with The Archive and the NFTs I describe in my post announcing the Forever Goldberg project!

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