In a current interview, Ripple CTO David Scwhartz defined what he finds attention-grabbing about non-fungible tokens (NFTs).
His feedback got here throughout an interview that was launched on YouTube channel “Considering Crypto” on March 16.
Based on a report on this interview printed by The Every day HODL on March 18, Schwartz finds two concepts associated to NFTs attention-grabbing.
The primary is the “drive that folks have to gather issues”:
“Should you have a look at NBA Prime Shot, which is a superb NFT undertaking — they’ve a implausible person expertise, however the vital factor there may be like I’ve a relationship with one thing which means one thing to me that no person else has.
“I don’t know precisely what that relationship is — like I kind of personal it — but it surely doesn’t matter. What issues to me is that I really like LeBron James or Steph Curry or whoever, and I’ve a particular relationship to [them] that no person else has.“
The second is the thought of digital rights. Schwartz identified that though many individuals at the moment have “bundles of digital rights” (e.g. books or songs purchased from the Google Play retailer), the person expertise with these rights is just not that nice.
Final month, Wietse Wind, Founding father of Ripple-backed XRPL Labs, got here up with a proposal for implementing assist for non-fungible tokens (NFTs) on the XRP Ledger (XRPL) that doesn’t require altering the code for the XRPL. On February 26, Wind began a discussion for his proposed normal for working with NFTs on the XRP Ledger.
The views and opinions expressed by the writer are for informational functions solely and don’t represent monetary, funding, or different recommendation.