TON NFT and the Fight for Property Rights

This was penned by The Open Foundation core developer Anatoliy Makosov

NFTs are our way to fight for property rights

NFT technology is only beginning to tap into its full potential. Today, a lot of people view NFTs exclusively as a speculation tool: They want to buy some token representing art at a low price and then sell it at a higher price.

But if we delve deeper, we’ll notice that at its core, NFT technology represents something else, a worthy mission: to connect our rights to our property. 

In life, if we own something, there’s usually a document that confirms this. If you own a house, you have a land rights certificate showing property ownership. If you own a car, there’s the registration document. If you have a TV at home, legally, this is insufficient evidence of proof of ownership because, in the event of a dispute, you’ll need a receipt or another way to prove you’re the owner.

Paper documents with a seal or record in a centralized government archive are unnecessary. They can be falsified or just simply lost. By losing your documents or having them stolen by scammers or hackers, it’s entirely possible to lose your real property. Proving that you’re the owner of something isn’t always an easy task. 

NFTs are a document that proves ownership — only, they’re stored on a decentralized blockchain. That way, there’s no way to lose it or falsify it. 

Just like how a crypto wallet returns the full ownership rights of your money to you without the need for intermediaries and banks, NFTs fortify your right to own anything you want.

House keys or the property itself are not attached to the physical document, much like how property is not necessarily stored in an NFT.

An NFT confirms that you own either a digital or physical asset.

You’ll notice that currently, NFTs still aren’t widely applied in the real physical world, and now they’re principally being used to sell digital images.

There’s no surprise here. It takes time for the masses to start adopting any new technology, and it’s better to start with simple things. 

We often buy trinkets, but we do so because we simply like them. When visiting a new country, we can buy a souvenir. Why, then, can’t we buy a digital souvenir when we visit digital spaces?

We see more potential in NFT-based games and other entertainment projects — it’s a great way to introduce more people to these technologies.

Starting simple, technology gradually becomes used for more serious things.

At TON, we’ve created a new kind of scalable token, which is fast and affordable, and billions can be launched. 

TON NFTs are approaching that moment where people’s rights to their homes, vehicles, and other properties will be guaranteed on the blockchain everywhere. 

Source: https://telegra.ph/NFTs-are-our-way-to-fight-for-property-rights-06-04