Experts debate whether NFTs really need blockchain

Crypto YouTuber EllioTrades and law professor Edmund Schuster debated the value of NFTs and the role of blockchain in digital collectibles.At the BlockDown 2021 conference, EllioTrades, a crypto YouTuber and co-creator of the Superfarm NFT project, joined a debate about the value of nonfungible tokens, or NFTs, with Edmund Schuster (associate professor of law at the London School of Economics)

According to the debate’s NFT bull, EllioTrades, blockchain technology is critical to ensuring the protection of digital assets. “When you have a digital store of value, a digital asset, and it’s not protected on the blockchain, time has shown that at some point this digital asset will be exposed to thefts. Information cannot be protected without a decentralized network to enforce that protection.

The NFT bull said that the technology provides token owners with a better quality of life as well as more freedom for interactions, including lending, renting and other complex activities related to decentralized finance.

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