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> It isn't a copyright grant, a contract, legal ownership

Exactly the problem. If these were used to prove legal ownership of real assets, whether they be intellectual or physical, they would have value. Selling individually numbered digital pet rocks is not valuable.

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They can’t be used to prove legal ownership of real assets, because you’d need a way for an authority to modify the data.

Say I own an asset legally, and lose my private key. Or it gets stolen by a malware. I’m still the legal owner.

You've inspired me to add NFT DRM to my Pet Rock Remote Control, so you can cryptographically lock your remote control to the digital pet rocks you own, so that nobody else but you can send them commands to "sit", "stay", "play dead", "roll over", etc.

https://www.youtube.com/watch?v=SG0FAKkaisg&ab_channel=DonHo...

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