3 ms·

What's to stop someone from minting another NFT pointing at the same piece of data?

• gruez 5y ago
  The same thing that prevents you from minting another deed that says you own the same piece of land as someone else.
  • ferdowsi 5y ago
    A centralized authority and hundreds of years of legal tradition to resolve property disputes?
    • gruez 5y ago
      I was thinking of more "the courts". That's not in line with the crypto-anarchist narrative people like to think must be associated with NFTs, but I think having NFTs replace the complicated system we use to assign ownership today (eg. title searches/insurance) is a pretty attainable goal that doesn't require replacing the entire government with blockchain.
  • hammyhavoc 5y ago
    Not true. Someone could take an image that I've created, stick it on a server, create an NFT with a URL pointing at it, then sell it. Likewise, others, including me, could then create an NFT with a URL that points at that piece of data. The original creator (me in this situation) wouldn't have created the 'original' NFT. NFTs don't solve counterfeiting when anybody can create a 'counterfeit' at any time.
    • gruez 5y ago
      > Not true. Someone could take an image that I've created, stick it on a server, create an NFT with a URL pointing at it, then sell it. Likewise, others, including me, could then create an NFT with a URL that points at that piece of data. The original creator (me in this situation) wouldn't have created the 'original' NFT. Right, just like how you can make a deed that says you own 30 Rockefeller Plaza. >NFTs don't solve counterfeiting when anybody can create a 'counterfeit' at any time. never claimed it did, only that NFTs can potentially provide a better way to assign/transfer copyrights than the current system of paper contracts.