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Authenticity is Everything
Julien Lennon Auctioning off NFT's at Juliens
It had to happen -- major auction house with six NFT's (digital token) of some of Julien Lennon's collection including a page of handwritten notes for Hey Jude written by Paul McCartney. Also some clothing and guitars. Read Julien's description below that states you do NOT get the physical items! Before you laugh -- bidding on this is already up to $50,000 with 10 days to go.
An image of the notes, this NFT is a 1 of 1 Edition of the physical item and does not include the physical item. The item is brought to life in an even more personal way through Julian Lennon’s exclusive audio narration, which is minted as part of this NFT. A NFT is a unique and non-interchangeable unit of data stored on the blockchain. Julian Lennon is the sole owner of the physical item. The winner of this item will share in that exclusivity of Lennon history as the sole owner of the NFT.
Replies to This Discussion
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Permalink Reply by Eric Keith Longo on
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Nudge me when we get to pictures of stickers on pictures of pictures.
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Permalink Reply by Eddy on
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I'm glad you posted this Bruce Juice. I'm a bit of a luddite. What does this mean? Is it that the high bidder will "own" an electronic scan of an actual physical item that the consignor doesn't part with? Not trying to be silly...I really don't get it.
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Permalink Reply by Brian on
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this whole nft thing doesn’t make sense. i’d want the physical item. it would never work for me with an autograph. i want to be the sole owner of the graph. i just don’t get it
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Permalink Reply by spaceman on
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The people bidding in this auction believe this item will increase in value because it is the number one token of probably many more to come. It is not the original item but the next best thing. The world's gone crazy. If I can't physically hold the real thing might as well down load a copy the picture above.
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"Julian Lennon is the sole owner of the physical item. The winner of this item will share in that exclusivity of Lennon history as the sole owner of the NFT."
Meaning what, exactly?
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Permalink Reply by G01ch on
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So if you win this item, your ownership is recorded in the blockchain (a system that records transactions made in cryptocurrency), so it becomes yours. But that's not gonna stop someone from screenshotting it. It's all a bubble in my opinion.
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You own the digital item and your ownership gets recorded in the blockchain. If I remember correctly, you'll get a certificate of ownership which can be looked up through a blockchain explorer.
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But the bottom line is that I have no rights to or even partial ownership of that original physical item?
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