Many people find non-fungible tokens (NFTs) an unnecessary extension of gambling. NFTs are a bi-directional bridge where various sentiments that discard them in the first place marry resentment.
Let’s get rid of the underlying technologies and structured products that help this novel type of emergent media for a couple of paragraphs, and remind ourselves with the fact that NFTs are both a) a type of media, and b) media upon which the very same media exist. That’s the beauty of on-chain storage where the storage device and the piece of media it retains can just be the same, or slightly different, but utterly composable.
It is true that there are analogies among floppy discs, Doomsday vaults, CD-ROMs and NFTs; however, none of the former ones can compose themselves into an asset of utility that is significant in both culturally evolutionary, and financial fashion. We are probably at a historical phase where we are learning to embed capital liquidity into a type of media that can bind any other type of media in whatever fashion that the currently evolving smart contract languages will suffice.
That is why we are early.
