NFT Pegged Real Assets

[ayashkr]

Hello Everyone,

When thinking about digitalizing real non-fungible assets like gems, diamonds, other precious things or even vehicles, lands or other properties, there are many real life non fungible valuable items we have but it cannot be digitalized and bringing to block chain easily.

Is that a good idea to create NFTs with collateralized underlying assets or do we have any better way to address the same issue already?

Cheers!
AKR

[ryzaadit]

Nah you can and that not a good idea.

NFT while you are digitalized item into virtual and you must destroy the item you are digitalized to make it has some valuable, If not doing that then the NFT not really worth anything for what purpose then we digitalized that item if there has 2 item (in real life& digital item) represented 1 item?

And not every time have some value at least NFTs must be unique and rare and not everyone have that item.

[ayashkr]

NFT while you are digitalized item into virtual and you must destroy the item you are digitalized to make it has some valuable, If not doing that then the NFT not really worth anything for what purpose then we digitalized that item if there has 2 item (in real life& digital item) represented 1 item?

I mean we have to lock the real world item as a collateral like we create USDT. Each and every NFT is having underlying asset which is really pegged to that asset. For example, we lock a gem and create an NFT for it?

[Yogee]

I'm sorry but you're not making much sense to be honest. What is the point of an asset-backed NFT when a NFT like a gem is an asset itself? They are stand alone items on the blockchain that do not need to be backed up by anything. Their market value could depend on the creator and level of its rarity.

[electronicash]

NFT while you are digitalized item into virtual and you must destroy the item you are digitalized to make it has some valuable, If not doing that then the NFT not really worth anything for what purpose then we digitalized that item if there has 2 item (in real life& digital item) represented 1 item?

I mean we have to lock the real world item as a collateral like we create USDT. Each and every NFT is having underlying asset which is really pegged to that asset. For example, we lock a gem and create an NFT for it?

how do you lock a gem?

there were blockchain projects related to gold that is somehow tokenized. the idea could turn bad since it has to be kept in a centralized vault and it could mean the project is centralized if we are going to be talking who locks the gem. its also going ot be checked/audited every now and then when the community starts to become paranoid.               

[DaMut]

I'm sorry but you're not making much sense to be honest. What is the point of an asset-backed NFT when a NFT like a gem is an asset itself? They are stand alone items on the blockchain that do not need to be backed up by anything. Their market value could depend on the creator and level of its rarity.

I could not agree more than this, the value of NFT comes from its uniqueness and rarity. If you are going to back it up with other asset, you do not create something unique but rather you are creating a stablecoin. the reason it is called stablecoin because it has reserve to back up the price while NFT does not have and need such a thing to have a value.
simply put NFT can be called as a memento.

[livingfree]

I agree with the guys above, with your example making an NFT with a gem or any existing asset, I don't see any sense to it. What's with most of the nfts today are different shots, tweets, arts and other digital stuffs that you can find online.

And if you ever create one, the value wouldn't be a lot, unlike those popular people that create their own nft.