What does it mean to own an NFT?

A blog I follow linked to this great analogy to describe what makes simple JPGs, PNGs, tweets worth hundreds of thousands, perhaps millions of dollars when represented as non-fungible token or NFTs:

This is a link to the entire article:

It describes the big differences (and some similarities) between traditional art markets and what is happening in the NFT world. It also dives into what we can expect in the future.

Once you realise that, it’s easier to be comfortable with building your own portfolio of natively digital artwork.

With marketplaces like Masterworks, you can own a fractional piece of real-world artwork.

But one would argue that this artwork is being by Masterworks on your behalf. With NFTs, you truly own the address in the blockchain at which the artwork is available, so your collection is truly yours.

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