4 ms·
I work in the industry dealing with art/design, and the only thing I really see NFT being useful for is a chain of custody to prove authenticity - but that only
by jozzy-james 5y ago
I work in the industry dealing with art/design, and the only thing I really see NFT being useful for is a chain of custody to prove authenticity - but that only applies to newly created works, as with historic pieces you're already at a crapshoot on specialists validating stuff correctly.
edit: i use the term 'historic' loosely, i just mean stuff that has been circulating for a while.
- twhb 5y agoThat only works if every owner participates, and if you’ve got every owner participating in the same authority then you don’t need NFTs.
- jozzy-james 5y agosure, i guess the thought is if you break the NFT chain then you essentially devalue your investment. it's an interesting use-case, but don't see it widely adopted in the art market any time soon.
- mannerheim 5y agoWhat prevents a malicious owner from creating a forgery, selling that with the NFT, and keeping the original for themselves?
- jozzy-james 5y agowell, the way i understand it is that the NFT signature would prevent that. granted, i've only recently been looking at NFT and general blockchain custody stuff at work - so i might be missing some key parts on how it all works. edit: unless you meant the forgery was the first to NFT - which is why i mentioned that i only see it as viable for newly created works that have not already been sold.
- crooked-v 5y agoYou can bake a digital signature into an NFT, but that's not going to help you verify a physical painting.
- jozzy-james 5y agohow so? again, i'm pretty new into researching this for physical works - but i would assume with the provenance/etc that goes into cataloging a piece, it should be...well, at least better than what we currently have.
- crooked-v 5y agoHow are you going to map a digital signature to in-depth verification of a physical painting? There are basically no possibilities here that aren't full of holes, because the real world doesn't come in discrete byte values.
- jozzy-james 5y agoi see them as a chain of custody that accentuates an already broken system of 'in-depth verification' as you put it. but again, i'm only recently looking into the validity of using such a thing. more accountability should be good, overall.
- mannerheim 5y agoYou still have to trust that nobody in the chain of custody has swapped out the physical work with a forgery.
- jozzy-james 5y agosure, but it's an extra layer over what is currently in place.
- mannerheim 5y agoThe NFT itself can't be forged, but surely the artwork itself can be forged? How would the NFT identify the forgery from the original if the current owner is saying the forgery is the real one?
- jozzy-james 5y agodon't have the answers on that one, but i would imagine it would come with a shift in how stuff is currently done.
- cyberge99 5y agoAn NFT can contain a secret that the buyer can unlock. Presumably a pgp key or similar token. True owner transfers it to a seller upon sale. This could establish and verify provenance.
- mannerheim 5y agoHow does the key or token distinguish the original from the forgery?
- detaro 5y agoAre you talking about digital files or actual physical art?
- jozzy-james 5y agophysical art/design