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> If I buy a print of and associated license to art, I gain the legal ability to look at and resell my copy the art. If I buy an NFT, I gain the defacto abilit

> If I buy a print of and associated license to art, I gain the legal ability to look at and resell my copy the art. If I buy an NFT, I gain the defacto ability to resell my copy the art.

lottin 5y ago
You don't own your own copy of the art. And you can't sell something you don't own.
- X6S1x6Okd1st 5y ago
  Do you think anyone owns even a fraction of a bitcoin?
  - lottin 5y ago
    I don't know if "own" is the right word, but people do have bitcoins under their control, yes, which means they can transfer them. Why?
    - X6S1x6Okd1st 5y ago
      I have NFTs under my control. I can transfer them, list them for sale, w/e. It's the same relationship to cryptocurrencies I have control over. The IRS sure seems to think that I owned bitcoin.
      - lottin 5y ago
        > I have NFTs under my control. I can transfer them, list them for sale. An NFT is not a "copy of a the art". That's the part that you got wrong.
        X6S1x6Okd1st 5y ago
        > That's the part that you got wrong. That's quite confrontational, if this topic is making you upset I'll refrain from continuing.
        lottin 5y ago
        Confrontational? I'm disagreeing with your statement > If I buy an NFT, I gain the defacto ability to resell my copy the art. and telling you exactly why I think your statement is wrong. Why do you think this is confrontational? This is a discussion forum.
        X6S1x6Okd1st 5y ago
        If the art is digital how and the artist agrees that editions of the NFT represent a copy of the art how is an edition of the NFT not a copy of the art?
        lottin 5y ago
        Because a "copy of the art" is a work of art that is the same as the original art and an NFT is not a work or art and is not the same as the original art. An NFT is a virtual token, than may or may not contain some metadata. This is not the same thing as the original art. Therefore it is not a copy of the art.
        mminer237 5y ago
        Because it's factually not. You can't get the art from the hash. It's one-way. That's the whole point, to create artificial scarcity and non-fungibility. Since it's not actually a copy, there's no first sale doctrine license to the copyright, making it illegal to have a copy of the art unless you have a separate licensing agreement. And if you do have such an agreement, that's the thing giving practical value. You and I can agree that a rock represents your car, but I'm still not going to pay you for it.
        miracle2k 5y ago
mminer237 5y ago
NFTs are not a copy of the art. On a technical level, they're hashes of the item for which you're paying to store on the blockchain. You can't get the original work from a hash, only verify the accuracy if you already have both. Then on a legal level, you do not give you any legal right to even view the art. The artist isn't signing you a license to copy the work, and, as described, a hash is not a copy for which such a license could be implied. If you buy just an NFT and send the US registered artwork itself along with it to the buyer, that's copyright infringement, and the original artist could sue you for thousands of dollars.

> If I buy a print of and associated license to art, I gain the legal ability to look at and resell my copy the art. If I buy an NFT, I gain the defacto ability to resell my copy the art.

lottin 5y ago

You don't own your own copy of the art. And you can't sell something you don't own.

X6S1x6Okd1st 5y ago
Do you think anyone owns even a fraction of a bitcoin?
- lottin 5y ago
  I don't know if "own" is the right word, but people do have bitcoins under their control, yes, which means they can transfer them. Why?
  - X6S1x6Okd1st 5y ago
    I have NFTs under my control. I can transfer them, list them for sale, w/e. It's the same relationship to cryptocurrencies I have control over. The IRS sure seems to think that I owned bitcoin.
    - lottin 5y ago
      > I have NFTs under my control. I can transfer them, list them for sale. An NFT is not a "copy of a the art". That's the part that you got wrong.
      - X6S1x6Okd1st 5y ago
        > That's the part that you got wrong. That's quite confrontational, if this topic is making you upset I'll refrain from continuing.
        lottin 5y ago
        Confrontational? I'm disagreeing with your statement > If I buy an NFT, I gain the defacto ability to resell my copy the art. and telling you exactly why I think your statement is wrong. Why do you think this is confrontational? This is a discussion forum.
        X6S1x6Okd1st 5y ago
        If the art is digital how and the artist agrees that editions of the NFT represent a copy of the art how is an edition of the NFT not a copy of the art?
        lottin 5y ago
        Because a "copy of the art" is a work of art that is the same as the original art and an NFT is not a work or art and is not the same as the original art. An NFT is a virtual token, than may or may not contain some metadata. This is not the same thing as the original art. Therefore it is not a copy of the art.
        mminer237 5y ago
        Because it's factually not. You can't get the art from the hash. It's one-way. That's the whole point, to create artificial scarcity and non-fungibility. Since it's not actually a copy, there's no first sale doctrine license to the copyright, making it illegal to have a copy of the art unless you have a separate licensing agreement. And if you do have such an agreement, that's the thing giving practical value. You and I can agree that a rock represents your car, but I'm still not going to pay you for it.
        miracle2k 5y ago

mminer237 5y ago

NFTs are not a copy of the art. On a technical level, they're hashes of the item for which you're paying to store on the blockchain. You can't get the original work from a hash, only verify the accuracy if you already have both. Then on a legal level, you do not give you any legal right to even view the art. The artist isn't signing you a license to copy the work, and, as described, a hash is not a copy for which such a license could be implied. If you buy just an NFT and send the US registered artwork itself along with it to the buyer, that's copyright infringement, and the original artist could sue you for thousands of dollars.