6 ms·

Does owning the NFT actually grant you any copyright claim or protection in the USA?

by ed25519FUUU 5y ago

Bjartr 5y ago
Not even a little
dsr_ 5y ago
No.
kemayo 5y ago
NFTs are functionally-identical to owning a print with a certificate of authenticity signed by the artist, I'd say.
- aikah 5y ago
  > NFTs are functionally-identical to owning a print with a certificate of authenticity signed by the artist, I'd say. No, you don't have to own/create a piece of art to make an NFT of a piece of art at first place.
- mavsman 5y ago
  Does the artist need to be involved with an NFT though? I thought Joe Shmoe could make and sell one if he so pleased.
  - deleted 5y ago
    [deleted]
  - shawnz 5y ago
    Joe Shmoe could also autograph a book he didn't write, it just wouldn't be very valuable.
  - stubish 5y ago
    No, but the market will price an NFT of the Mona Lisa minted by John Doe much less than an NFT of the Mona Lisa minted by Michelangelo.
- Yizahi 5y ago
  Not even close. NFT functionally is scrap of paper with an address of an apartment where print with a certificate of authenticity signed by the artist is located. A unique scrap of paper, sure :)
PragmaticPulp 5y ago
NFTs alone don't do anything special, other than enable trading of NFTs. The NFT basically has a "memo" field where the issuer can put a link to a website that says "This NFT represents the source code for the world wide web", but that's it. You don't actually get or own anything beyond the NFT. You can think of it like a digital baseball card that represents something. The advantage is that it's digitally unique and can be traded on the blockchain. It's likely that these high dollar auctions come attached to contracts with additional stipulations beyond the NFT. I wouldn't be surprised if those contracts included clauses that allowed re-issue of the NFT in the event that it's lose or stolen, for example.
- Ndymium 5y ago
  And what if the website goes offline? Can't the information be stored on the blockchain directly to avoid this point of failure?
  - dthul 5y ago
    Storage on the blockchain is too limited and too expensive to put the actual media files there. Afaik that's because the verification nodes need to have a copy of the current state of the VM, which contains everything ever stored on the chain / by smart contracts.
  - deleted 5y ago
    [deleted]

Does owning the NFT actually grant you any copyright claim or protection in the USA?

Bjartr 5y ago

Not even a little

dsr_ 5y ago

No.

kemayo 5y ago

NFTs are functionally-identical to owning a print with a certificate of authenticity signed by the artist, I'd say.

aikah 5y ago
> NFTs are functionally-identical to owning a print with a certificate of authenticity signed by the artist, I'd say. No, you don't have to own/create a piece of art to make an NFT of a piece of art at first place.
mavsman 5y ago
Does the artist need to be involved with an NFT though? I thought Joe Shmoe could make and sell one if he so pleased.
- deleted 5y ago
  [deleted]
- shawnz 5y ago
  Joe Shmoe could also autograph a book he didn't write, it just wouldn't be very valuable.
- stubish 5y ago
  No, but the market will price an NFT of the Mona Lisa minted by John Doe much less than an NFT of the Mona Lisa minted by Michelangelo.
Yizahi 5y ago
Not even close. NFT functionally is scrap of paper with an address of an apartment where print with a certificate of authenticity signed by the artist is located. A unique scrap of paper, sure :)

PragmaticPulp 5y ago

NFTs alone don't do anything special, other than enable trading of NFTs. The NFT basically has a "memo" field where the issuer can put a link to a website that says "This NFT represents the source code for the world wide web", but that's it. You don't actually get or own anything beyond the NFT. You can think of it like a digital baseball card that represents something. The advantage is that it's digitally unique and can be traded on the blockchain. It's likely that these high dollar auctions come attached to contracts with additional stipulations beyond the NFT. I wouldn't be surprised if those contracts included clauses that allowed re-issue of the NFT in the event that it's lose or stolen, for example.

Ndymium 5y ago
And what if the website goes offline? Can't the information be stored on the blockchain directly to avoid this point of failure?
- dthul 5y ago
  Storage on the blockchain is too limited and too expensive to put the actual media files there. Afaik that's because the verification nodes need to have a copy of the current state of the VM, which contains everything ever stored on the chain / by smart contracts.
- deleted 5y ago
  [deleted]