4 ms·

Think of NFTs as trading cards. They have no intrinsic value or link to their subject. Anyone can make an NFT of anything. You don't own Steph Curry (or any of

by smt88 6y ago

Think of NFTs as trading cards. They have no intrinsic value or link to their subject. Anyone can make an NFT of anything. You don't own Steph Curry (or any of his earnings) by buying his card. You just own his card. Now, Steph Curry could certainly sell a share of his earnings along with a trading card, but you would be relying on the legal system and contract law to own those earnings, not really the card itself.

saluki 6y ago
It's possible without relying on the legal system or contract law. That's one of the interesting things about smart contracts. Steph could sell NFT shares in a smart contract stipulate in his contract to be paid in ETH at the smart contract address. The smart contract could then pay holders of his NFT shares a set % of his salary automatically.
- smt88 6y ago
  > It's possible without relying on the legal system or contract law. I disagree. Smart contracts can automate on-chain activity. They can't actually enforce anything because they have no visibility into or control over the physical world of humans. For example... > The smart contract could then pay holders of his NFT shares a set % of his salary automatically. This would only be possible if the smart contract had access to 100% of his income (everything he earns is in crypto or he converts it to crypto himself). An unethical person would just keep their money in fiat and never pay anyone anything. So how do you enforce it then? The legal system and contract law.
areagrab 6y ago
Haha its funny because "NBA Top Shot" is actually a thing now, where you can own official NBA moments (like a Steph Curry 3 Pointer or Lebron James dunk.) You're right, all that owning the card does is allow you to own a tradeable moment/card/NFT... no copyright or direct ownership of the play, player, or NBA. However (correct me if I'm wrong) I do think that you would be granted some inherent rights or copyright protections (though this is early and would need to be contested in a court when it happens) because you do own the moment to some extent. So, while a NBA Top Shot card holder may not receive any of that player's dividends or direct copyright for that play, maybe they have some inherent protection to be able to use this moment in artwork or another content creation form? Just food for thought!

by smt88 6y ago

saluki 6y ago

It's possible without relying on the legal system or contract law. That's one of the interesting things about smart contracts. Steph could sell NFT shares in a smart contract stipulate in his contract to be paid in ETH at the smart contract address. The smart contract could then pay holders of his NFT shares a set % of his salary automatically.

smt88 6y ago
> It's possible without relying on the legal system or contract law. I disagree. Smart contracts can automate on-chain activity. They can't actually enforce anything because they have no visibility into or control over the physical world of humans. For example... > The smart contract could then pay holders of his NFT shares a set % of his salary automatically. This would only be possible if the smart contract had access to 100% of his income (everything he earns is in crypto or he converts it to crypto himself). An unethical person would just keep their money in fiat and never pay anyone anything. So how do you enforce it then? The legal system and contract law.

areagrab 6y ago

Haha its funny because "NBA Top Shot" is actually a thing now, where you can own official NBA moments (like a Steph Curry 3 Pointer or Lebron James dunk.) You're right, all that owning the card does is allow you to own a tradeable moment/card/NFT... no copyright or direct ownership of the play, player, or NBA. However (correct me if I'm wrong) I do think that you would be granted some inherent rights or copyright protections (though this is early and would need to be contested in a court when it happens) because you do own the moment to some extent. So, while a NBA Top Shot card holder may not receive any of that player's dividends or direct copyright for that play, maybe they have some inherent protection to be able to use this moment in artwork or another content creation form? Just food for thought!