People are paying serious money for the digital equivalent of collectible baseball cards. For example Jack Dorsey recently decided to try to auction the rights to:
Ownership appears to mean you get to assert your ownership over this derived asset (the NFT), and sell the NFT at a later date, but no rights over the original asset (e.g. you cannot choose to delete or edit the tweet after buying it).
Another example recently are Digital Artworks sold as NFTs - the NFT does not stop copying that collection of bits, or enforce copyright, it means you claim rights to be owner of the first set of bits with that pattern. Even if other people have copies of Nyan Cat, you have the first.
But many are skeptical about the costs and utility of NFTs on blockchains
Is this a sign of irrational exuberance at the peak of a bubble or a new asset class emerging?