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NFTs don't transfer real-world rights. They only transfer the NFT itself. You could potentially create a real-world contract that ties ownership of the real-wo
by PragmaticPulp 6y ago
NFTs don't transfer real-world rights. They only transfer the NFT itself.
You could potentially create a real-world contract that ties ownership of the real-world asset to whoever holds the NFT, but that would introduce real-world legal issues like voiding the NFT in the event that it was transferred fraudulently and so on.
It seems a lot of people have been misled into believing that NFTs are something they're not. NFTs are like a special URL that points to some other content. You can trade that URL, but the content being pointed to still exists separately.
- ddeyar 6y agoThanks for this conversation. It is truly very misleading. There is no implicit copyright. There are mentions about ownership and also contradictions. This generalization I made, was wrong.
- TomSwirly 6y agoI want to comment you on your very good attitude here. (And yes, it's just baffling that people pay for these NFTs when they really get nothing out of them.)