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A token could be boiled down to a secured record in a distributed ledger ("X wallet owns Y token"). Most artists & collectors in the space understand this; but

A token could be boiled down to a secured record in a distributed ledger ("X wallet owns Y token"). Most artists & collectors in the space understand this; but the mainstream media often mischaracterizes it as "buying JPGs." Nobody who purchases a CryptoPunk today would expect to receive a JPG or media file of a pixelated avatar in return for their purchase. Rather, they would expect to receive ownership over the token (i.e. record in a distributed ledger). In the case of CryptoPunks, there is not even any "hyperlink" in the NFT – it is just an integer from 0 to 9999, stored within the state of the CryptoPunks contract.[1] Do they hold ownership over the media file, or pixel artwork? No. Do they hold ownership over a digital token that (according to the project's creator, and according to social consensus) represents part of the CryptoPunks art project? Yes. [1] - https://etherscan.io/token/0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb https://etherscan.io/token/0xb47e3cd837ddf8e4c57f05d70ab865d...

lottin 5y ago
> Do they hold ownership over a digital token that (according to the project's creator, and according to social consensus) represents part of the CryptoPunks art project? Yes. The social consensus says what? Obviously the NFT promoters want the public to believe that the NFT is part of an art collection, and this is why they use this ambiguous language that is intended to create the false impression that the NFT and the piece of art are the same thing or at least are closely connected with one another, and indeed the uneducated public will tend to believe that, but this a belief that is founded upon a lie. Anyone who actually knows what an NFT is is very unlikely to agree that these NFTs are part of an art project or have an artistic intent.
- mattdesl 5y ago
  I'm not sure how my language is ambiguous. It's very clear to those participating that buying an NFT does not give you ownership over the intellectual property of the artwork, or even ownership over the image itself, hence the many "Right click Save As" memes[1]. > Anyone who actually knows what an NFT is is very unlikely to agree that these NFTs are part of an art project or have an artistic intent. This is pretty presumptuous, and also wrong. One such counter-example is ZKM, which began acquiring NFTs in 2018.[2] [1] - https://superrare.com/artwork/right-click-and-save-as-guy-1154 https://superrare.com/artwork/right-click-and-save-as-guy-11... [2] - https://zkm.de/en/exhibition/2021/04/cryptoart https://zkm.de/en/exhibition/2021/04/cryptoart
  - lottin 5y ago
    It's an ambiguous language, for example, when you say that the NFT "represents part of the CryptoPunks art project". Is it true? Well, maybe. A bread crumb can represent the starship Enterprise, but it would be absurd to describe it in this way. Or when ZKM describes NFTs as "digitally certified images" and also as "digital works" that are "transformed into unique pieces" (from your own link). In this is case, not so much ambiguous, but directly deceiving.

lottin 5y ago

> Do they hold ownership over a digital token that (according to the project's creator, and according to social consensus) represents part of the CryptoPunks art project? Yes. The social consensus says what? Obviously the NFT promoters want the public to believe that the NFT is part of an art collection, and this is why they use this ambiguous language that is intended to create the false impression that the NFT and the piece of art are the same thing or at least are closely connected with one another, and indeed the uneducated public will tend to believe that, but this a belief that is founded upon a lie. Anyone who actually knows what an NFT is is very unlikely to agree that these NFTs are part of an art project or have an artistic intent.

mattdesl 5y ago
I'm not sure how my language is ambiguous. It's very clear to those participating that buying an NFT does not give you ownership over the intellectual property of the artwork, or even ownership over the image itself, hence the many "Right click Save As" memes[1]. > Anyone who actually knows what an NFT is is very unlikely to agree that these NFTs are part of an art project or have an artistic intent. This is pretty presumptuous, and also wrong. One such counter-example is ZKM, which began acquiring NFTs in 2018.[2] [1] - https://superrare.com/artwork/right-click-and-save-as-guy-1154 https://superrare.com/artwork/right-click-and-save-as-guy-11... [2] - https://zkm.de/en/exhibition/2021/04/cryptoart https://zkm.de/en/exhibition/2021/04/cryptoart
- lottin 5y ago
  It's an ambiguous language, for example, when you say that the NFT "represents part of the CryptoPunks art project". Is it true? Well, maybe. A bread crumb can represent the starship Enterprise, but it would be absurd to describe it in this way. Or when ZKM describes NFTs as "digitally certified images" and also as "digital works" that are "transformed into unique pieces" (from your own link). In this is case, not so much ambiguous, but directly deceiving.