3 ms·

> NFT is simply provable ownership of a digital asset. How is this any different from traditional copyright ownership? Assigning the rights for a piece of IP h

> NFT is simply provable ownership of a digital asset. How is this any different from traditional copyright ownership? Assigning the rights for a piece of IP has been commonplace for well over a century.

seibelj 5y ago
This goes down the rabbit hole of crypto enthusiasm, which HN as a collective despises. But blockchain allows the asset to be verified quickly, impossible to counterfeit (the asset itself, not the NFT image), and immediately makes it available to the entire ecosystem of dapps running on the blockchain rails. I believe NFTs will become a larger component of DeFi, enabling their use as collateral. But a large number of games will also integrate with NFTs and enable a larger ecosystem of assets to move freely between them.
- organsnyder 5y ago
  > This goes down the rabbit hole of crypto enthusiasm, which HN as a collective despises. Count me among the naysayers. I've worked in a field (publishing) with IP as its lifeblood, and I simply don't see the business value NFTs provide over traditional contracts.
- MereInterest 5y ago
  But when I make a second NFT based on the same image, it has those same properties. It still can be traced back to the same image. If NFTs are meant to establish ownership over some asset, there is nothing that connects the NFT to the asset itself.
  - sumtechguy 5y ago
    To be fair there is also nothing that really connects this piece of paper which is the title of my car to my car. This application of blockchain seems to be only creating a chain of ownership. Which we already sort of have now with many things. It does not seem to bring many better properties with it other than one I can think of. That property is that it makes it harder to forge ownership. The weird thing is coming from people creating NFT's for things that are basically not worth tracking who owns it. Then others buying that thing at a wildly overinflated price (which many digital easily copied goods fall into).

seibelj 5y ago

This goes down the rabbit hole of crypto enthusiasm, which HN as a collective despises. But blockchain allows the asset to be verified quickly, impossible to counterfeit (the asset itself, not the NFT image), and immediately makes it available to the entire ecosystem of dapps running on the blockchain rails. I believe NFTs will become a larger component of DeFi, enabling their use as collateral. But a large number of games will also integrate with NFTs and enable a larger ecosystem of assets to move freely between them.

organsnyder 5y ago
> This goes down the rabbit hole of crypto enthusiasm, which HN as a collective despises. Count me among the naysayers. I've worked in a field (publishing) with IP as its lifeblood, and I simply don't see the business value NFTs provide over traditional contracts.
MereInterest 5y ago
But when I make a second NFT based on the same image, it has those same properties. It still can be traced back to the same image. If NFTs are meant to establish ownership over some asset, there is nothing that connects the NFT to the asset itself.
- sumtechguy 5y ago
  To be fair there is also nothing that really connects this piece of paper which is the title of my car to my car. This application of blockchain seems to be only creating a chain of ownership. Which we already sort of have now with many things. It does not seem to bring many better properties with it other than one I can think of. That property is that it makes it harder to forge ownership. The weird thing is coming from people creating NFT's for things that are basically not worth tracking who owns it. Then others buying that thing at a wildly overinflated price (which many digital easily copied goods fall into).