NFTs are worthless, we need NFAs

in nfa •  3 years ago 

#NFTs have a big issue at the moment. Every #NFT at the moment is not actually non-fungible. Or better said, the asset is not, non-fungible.

Meaning your NFT can become worthless in a fraction of a second. Yes, a fraction of a second, the time the Ethereum network needs to process your NFT is not in play, nor that of any other #DLT. An NFT, is just a link. Just like an address you put into your browser to visit a site. When you own an NFT, you own a link to the asset, the asset can be changed or removed...

This is a big issue to be solved, the prices of NFTs get higher and higher, it's a hype, a bubble and at with the current tech, it's worth nothing. You do NOT own an asset, you do NOT posses an asset when you own and posses an NFT. A solution needs to be developed.

We need an #NFA, a Non-Fungible Asset. The NFA itself is stored on the DLT. The actual data, the binary data, encrypted or unencrypted, is stored in the particles of the DLT.

An example of how to do it: If your DLT has the possibility of a text message, you can store hex code in it. The message can also contain an index, which points to all the particles needed. Now the NFA can be constructed from the messages in the particles.

I'm sure far smarter people can come up with better solutions.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!