Non-Fungible Token replaces an impossible token, i.e. a non-replicable token.

According to a tweet by Akihisa Ishida:

Copyright is a concept that emerged with the invention of printing, which assumes that replication spreads on the internet. In that sense, NFT may be a new concept that replaces copyright. Instead of preventing replication, it is a technology that identifies the owner, so it can be considered as ownership rights. It reminds me of the concept of “sovereignty” in Chinese characters. The call for artists to have sovereignty may actually be a well-founded idea.

If we introduce the transfer of ownership, it would be similar to the lifetime concept in Rust (takker).

In this document, an interesting fact about Fungible Tokens (FT) is mentioned:

  • “It is possible to design and issue a token as an FT, but whether it is considered fungible or not depends on how users use it at that time.”
  • Certainly, this may be true. However, when dealing with ERC20 tokens that handle quantities, there may be some challenges. For example, when you add 10 to 10, it is not clear which half of 20 represents 10.

#ブロックチェーン (Blockchain)