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To what extend does authenticity matter anyway? Does the seller actually have to prove that he owns the image? After all, they aren't selling the image, they ar
by Sol- 6y ago
To what extend does authenticity matter anyway? Does the seller actually have to prove that he owns the image? After all, they aren't selling the image, they are just selling a cryptographically signed hash of the image. That's all the contract claims, no?
But I suppose the platform leads people to believe that it's the original owners that created that signed hash (not that this means anything) and the illusion that this mattered is important for the auctioning behavior.
I wonder how regulators will react to this. Probably best to not regulate this at all, so that people realize that all NFTs are ultimately meaningless and the they die out quickly.
- qqii 6y agoFor buyers a lot of value of the NFT doesn't come from the bits that make up the image but creator's prior reputation. Like art NFT's representation is only secondary to the artist. This can be plainly seen by looking at the flood of NFTs on opensea that have never been purchased.
- joshspankit 6y agoIt depends on the platform. The platforms that garner the highest bids are also the ones who are vetting the artists.