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Will there ever be a Numismatic NFT Registry??
Lakesammman
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Watched with interest an interview with Don Kagin re: his $100,000 proof currency note and selling of fractional ownership with NFT's.
It got me thinking - what could possibly get me to buy an NFT of that sort??
3 came quickly to mind.
The Cardinal/TDN 1794 $1?
The legal-to-own 1933 $20??
The Judd 1776 $20??
I think the idea of owning specific parts of the note/coin is silly, but I can see how fractional ownership of an iconic piece could be appealing.
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
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"I can see how fractional ownership of an iconic piece could be appealing."
Isn't the point of an NFT that you don't own a fractional piece of a real thing, but rather own a URL address of a digital asset or image of something?
In honor of the memory of Cpl. Michael E. Thompson
the fractional ownership thing is the same idea as the constitution DAO that tried to buy a copy of the constitution. proof of ownership is on a blockchain. the fractional ownership is of the real, physical thing and not a typical NFT the general public thinks of
Here's the video - it's fractional ownership of a unique item, tracked on the block chain, different than the BS offered 4-5 years ago, with upside (and downside) potential.
https://youtube.com/watch?v=-UEpzw6ZKjo&t=2s
Even better than an NFT, they should cut up the physical coin and distribute it in pieces.
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I hope not, but should it happen that is not something that would interest me.
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I'm not entirely certain of the difference between this suggestion and an old-fashioned consortium buying a coin? Seems to me a case of just throwing the word "blockchain" in there to attract the blockchain crowd, when it's really kind of redundant.
Two problems always come about when one attempts to mix virtual non-fungible trading with real-world non-fungible assets. The first is the lack of infinite divisibility in the asset, especially for something like a coin. If you get sick of sharing the asset, you can't just pack up your piece of coin and take it with you; your only options are to sell, or to stump up the cash to buy out everybody else so you can acquire a whole coin.
Second, there's the issue of custody: where is this hypothetically shared asset going to be physically located? Who takes responsibility for storing it, insuring it, and paying out in the event of natural disaster or theft? What's stopping that person from taking the coin and fleeing to Belarus with it? It seems to me that under law, that person or organization is "the real owner" of the coin, and everyone else is just a shareholder.
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Pass
The other potential issues with this offering are the possible fees associated with storage of the actual physical asset and the cap on your upside due to the ability of Kagins to set a price at which someone can buy the note and all fractional shares.
first you have to spend the money to laminate it unless there is some decentralized grading company
Fractional ownership seems fine to me as long as it comes with fractional possession. If I buy a 10% stake in something, I want to have it physically in my possession 10% of the time.
http://macrocoins.com
This sounds like a potential exit scam.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
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NFTs & fractional ownership / "microshares" aren't necessarily one and the same, FWIW. To echo and expand on what @TomB and others had to say, NFT's are inherently non-fungible, meaning each asset is one-of-a-kind and can't be replaced or substituted, compared to a fungible asset, like a microshare or a piece of currency which can be. NFT's are really just digital identifiers stored on a blockchain.
There's several instances of non-NFT based fractional ownership marketplaces that are unrelated to crypto / blockchain, like fractional ownership of racehorses, for example. And in those situations, while you don't get to have the horse just come and hang out at your house for a week, you do get ownership privileges, i.e.: being able to visit the horse at their home stables or the race paddock, access to the owner's box / winner's circle at the racetrack, etc.
I guess what I'm trying to say is there's nothing technology-wise stopping someone from building a non-blockchain based fractional ownership marketplace for coins / currency. Logistically, it's not easy of course, but it's absolutely doable.
How many shares or ownership interests are being sold and at what price?
To me and most collectors, the entire point of collecting is physical ownership, but I guess to some collectors, it's not much different than having their coins (or notes in this instance) stored in a SDB where they seldom see it anyway.