Posted on 11/16/2022 4:18:02 PM PST by C19fan
LOL!
You’ll be overpaying.
Your two sentences are inconsistent.
There are NFTs that convey legal rights, including full copyright privileges, or other benefits such as a legal right to redeem for physical goods.
There are NFTs that convey membership, or a transferable right to a composed piece of music, of which the holder may sell a specified number of unique “editions”.
All of these examples exist today. There are further unique cases, but they don’t fit your narrow cognitive framework, so you pretend they don’t exist, or dismiss them as irrelevant.
The fact is, you don’t understand the space or its potential.
Rather have the Grape Ape than a bored ape.
Your narrow cognitive framework doesn’t comprehend the fact that the term “vast majority of cases” does not conflict with your claims.
However, here is a video that discusses the problematic legal issues regarding NFT contracts:
https://www.youtube.com/watch?v=C6aeL83z_9Y
You don’t know jack s*** about my cognitive framework.
I do hold NFTs, but the types I mentioned, not some PFP garbage like Bieber.
The vast majority of my cases are as I indicated.
The next big deal was every other fan copying the avatar and using it to show up the guy who bought the NFT as a fool.
My network blocked that pic. So yes it makes the owner look like a fool.
“So yes it makes the owner look like a fool.”
How?
Does the block chain have the actual image or is it just an address to a web site hosting the image?
If it's a web site, then the site could go down, be hacked, or be inaccessible.
If an actually valuable thing is being stored in the block chain itself, for example an "exact" copy of the Mona Lisa with enough resolution to store the layers of paint and nature of each brush stroke, and if that block chain has to be stored on everyone's computer that is working with that block chain, then huge amounts of memory are being eaten up.
It's also nice to know that a lot of the early NFTs were incidents of theft. Artists who had naively posted their work on line, and then thought that they could finally make money off it via NFTs found that others had already converted their artwork into NFTs and claimed rights to them.
How libertarian of them!
“If I can’t see it. If it can be blocked by my firewall, then how good is it?”
That was just a copy of a Mickey Mantle baseball card. Does not reduce the value of the original.
The block chain could keep track of the series of transactions that occurred as the baseball card was transferred from one owner to another. This could help with provenance.
However, it wouldn't prevent someone along the way replacing the real card with a fake. It wouldn't know where the card is now if the last owner lost it, had it stolen, or decided to sell without creating a block chain entry.
It also couldn't make certain the card's current condition if this information was not included in the block chain. Even a picture of a mint condition baseball card could be photoshopped from one that is tattered and stained.
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