RE: Hive and NFTs: Digital Real Estate on Steroids
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Just the ability to monetize data without having to maintain your own infrastructure is a big step forward. Tie in the NFTs and now that data can be bought and sold on chain.
I'm just wondering how this is going to work on a technical level. VSC smart contracts will be Layer 2. An NFT could be created and linked to a particular post, and you could buy or sell this NFT, but on Layer 1 the post itself would still be attached to the original creator and would show up on that account's blog page. Seems like there might need to be some changes on Layer 1 for this to work, such as adding the ability to change the account that owns a post.
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Your viewpoint seems spot on. However, what I think is missing from your analysis is the monetization. There is none of that at the base layer (after the reward window). Hence the data is idle in that sense.
It is up to the layer 2 for the monetization. It is also where the ownership will be tied.
The data is truly owned by nobody since it is public, yet can be pulled into an application and owned there. An odd twist but one that shows the exponentiality of the data.
Damn just got another article out of this. LOL