https://medium.com/videocoin/7-industries-the-blockchain-will-disrupt-d83d317e8d8?ref=quuu
Another great article
Topic: regestra official thread - BLOCKCHAIN BASED ART PROVENANCE AND AUTHENTICATION - page 2. (Read 301 times)
May 31, 2018, 05:41:56 PM
May 31, 2018, 03:51:44 PM
Non-fungible tokens
Although paper money is marked with unique identifiers by way of printed serial numbers, the “uniqueness” of each bill is irrelevant in nearly all circumstances. The primary function of any one unit of a fungible asset is the same for all units that fall within the same class of fungible assets, whether the fungible asset in question is dollars (to act as a unit of account that is widely agreed upon as being equal in value to other units of the same denomination in that asset class, to act as a store of value, and to act as a medium of exchange of the widely accepted agreed upon underlying value) or gasoline for your vehicle (to be consumed as fuel so that you can get from point A to point B).
While NFTs can act as a store of value in certain instances, with the art world being a prime and obviously relevant example of a market in which certain works are generally considered to be good investments that are only going to increase in value, the effectiveness or acting as store of value is going to vary tremendously depending on the work being considered.
Additionally, an NFT is generally not going to be used as a unit of account or a medium of exchange. Instead, for the NFT holder to exchange it for some other form of value, the holder would need to use the NFT in a barter-type of exchange to receive some other non-monetary form of value, or the NFT would need to be sold for a medium of exchange, such as dollars or BTC, which could then be used to purchase another item of value.
Additionally, unlike utility tokens (or the equivalent of directly owning gasoline), the value of NFTs does not stem the usefulness or benefits derived from consuming (or utilizing in a manner that reduces future utility) the token.
I saw something the other day that suggested the term “consumer tokens” as an alternative to utility tokens because of the fact that utility tokens value stems from consumption. However, the proposal also included ERC 721 assets in this grouping, which I think was an incorrect conclusion. While a new sedan that you drive to work certainly derives its value from its utility/your consumption of the vehicles ability to continue functioning for the purposes for which you paid for it, an antique vehicle, or one that has some unique historical significance (by way of a Seinfeld example, buying a car previously owned by Jon Voight) is going to derive its value from the uniqueness of the asset itself rather than its ability to provide a utilitarian benefit that only stems from the ability of consuming it as a resource.
Although paper money is marked with unique identifiers by way of printed serial numbers, the “uniqueness” of each bill is irrelevant in nearly all circumstances. The primary function of any one unit of a fungible asset is the same for all units that fall within the same class of fungible assets, whether the fungible asset in question is dollars (to act as a unit of account that is widely agreed upon as being equal in value to other units of the same denomination in that asset class, to act as a store of value, and to act as a medium of exchange of the widely accepted agreed upon underlying value) or gasoline for your vehicle (to be consumed as fuel so that you can get from point A to point B).
While NFTs can act as a store of value in certain instances, with the art world being a prime and obviously relevant example of a market in which certain works are generally considered to be good investments that are only going to increase in value, the effectiveness or acting as store of value is going to vary tremendously depending on the work being considered.
Additionally, an NFT is generally not going to be used as a unit of account or a medium of exchange. Instead, for the NFT holder to exchange it for some other form of value, the holder would need to use the NFT in a barter-type of exchange to receive some other non-monetary form of value, or the NFT would need to be sold for a medium of exchange, such as dollars or BTC, which could then be used to purchase another item of value.
Additionally, unlike utility tokens (or the equivalent of directly owning gasoline), the value of NFTs does not stem the usefulness or benefits derived from consuming (or utilizing in a manner that reduces future utility) the token.
I saw something the other day that suggested the term “consumer tokens” as an alternative to utility tokens because of the fact that utility tokens value stems from consumption. However, the proposal also included ERC 721 assets in this grouping, which I think was an incorrect conclusion. While a new sedan that you drive to work certainly derives its value from its utility/your consumption of the vehicles ability to continue functioning for the purposes for which you paid for it, an antique vehicle, or one that has some unique historical significance (by way of a Seinfeld example, buying a car previously owned by Jon Voight) is going to derive its value from the uniqueness of the asset itself rather than its ability to provide a utilitarian benefit that only stems from the ability of consuming it as a resource.
May 31, 2018, 03:34:53 PM
Another great article on art and the blockchain
https://www.forbes.com/sites/andrewrossow/2018/04/07/why-does-the-art-community-need-blockchain-on-its-palette/#7ce1a0124044
https://www.forbes.com/sites/andrewrossow/2018/04/07/why-does-the-art-community-need-blockchain-on-its-palette/#7ce1a0124044
May 31, 2018, 03:27:23 PM
Excited to partner with creative capital. Follow us on social!
May 18, 2018, 09:15:37 AM
Thank you for the comments everyone. Lets try and remain respectful on this post. We have a lot of cool things coming and we are going to solve a big problem. Stay tuned!
May 16, 2018, 12:39:13 PM
We have a great focus group of artists.
May 15, 2018, 11:14:49 AM
I'm sure that the problem of falsification of art values is very important, but it is not as important as the problem of global warming or the introduction of the block chain in the sphere of social activity, we are not ready to apply the block chain to such projects
That is a very interesting take on the technology. I think most people in this space would vehemently disagree. As far as the social aspect, you and I both agree there and we have some surprises for you. Stay tuned!
May 14, 2018, 03:56:29 PM
I'm sure that the problem of falsification of art values is very important, but it is not as important as the problem of global warming or the introduction of the block chain in the sphere of social activity, we are not ready to apply the block chain to such projects
Think you are wrong my friend. This is indeed the right moment to do it. Everything will be soon Blockchain related. Better be the first than the last to enter the market 
May 14, 2018, 03:37:48 PM
Great ! We will be soon ready to go !
May 14, 2018, 01:06:59 PM
I'm sure that the problem of falsification of art values is very important, but it is not as important as the problem of global warming or the introduction of the block chain in the sphere of social activity, we are not ready to apply the block chain to such projects
May 14, 2018, 12:55:14 PM
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