Eric Siu explains how NFTs work by comparing them to owning a home or the Mona Lisa. The key is verification and proof of ownership, not the digital file itself. When you buy an NFT, you're buying the deed, not the painting.
When you think about buying a home, are you actually getting the home? Or like, what are you actually getting? You're actually getting a signature, right? You're actually getting the deed. And your home's only your home as long as, you know, the people around you recognize it as your home. You know, why is an exact replica of Mona Lisa not worth, you know, what the real Mona Lisa is worth? Because it's been verified and because there's kind of proof. There's, you know, you have appraisers, you know, people that are professionals that have approved and they agree that that's the original one, right? Same deal with, with this, all this NFT stuff that I'm talking about right now.
