The ability for a 3rd party consensus of truth against an immutable ledger. Without it, the 3rd party has to keep their own copy or federate with an original authority. The fact nft still needs consensus of truth is only somewhat problematic. Blockchain solves ownership through secrets, but a coin or nft is only worth something if someone else cares about that ownership and agrees that ledger is valid. 1 bitcoin is not 1 dogecoin for the same reason I wouldn’t buy a monkey picture for a million dollars, but that same million dollar monkey picture gets you into a yacht party with someone else. Ultimately you paid for dispute resolution by a 3rd party for some kind of use of that nft. If there is no use, then you paid for nothing.
The ability for a 3rd party consensus of truth against an immutable ledger. Without it, the 3rd party has to keep their own copy or federate with an original authority. The fact nft still needs consensus of truth is only somewhat problematic. Blockchain solves ownership through secrets, but a coin or nft is only worth something if someone else cares about that ownership and agrees that ledger is valid. 1 bitcoin is not 1 dogecoin for the same reason I wouldn’t buy a monkey picture for a million dollars, but that same million dollar monkey picture gets you into a yacht party with someone else. Ultimately you paid for dispute resolution by a 3rd party for some kind of use of that nft. If there is no use, then you paid for nothing.