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You don't own your own copy of the art. And you can't sell something you don't own.
by 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 agoDo you think anyone owns even a fraction of a bitcoin?
- lottin 5y agoI 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 agoI 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 agoConfrontational? 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 agoIf 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 agoBecause 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 agoBecause 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 agoThere is in practice no first sale doctrine for digital images; the first sale doctrine gives you the right to distribute your copy, not to make your own copies; and you can't transfer a PNG to your friend without making a copy. The first sale doctrine deals with the intersection of copyright with physical copies of a work. This is why no one is buying and selling digital artworks, except using an artificial concept of ownership - a certificate. The artworld has done it with paper certificates for a long time; NFTs are the same thing.
- lottin 5y ago> This is why no one is buying and selling digital artworks, except using an artificial concept of ownership - a certificate. You seem confused. A certificate does not grant ownership. The reason nobody is buying and selling digital images is because producing an exact copy of a digital image costs nothing, which means it's irrational to pay for a copy of an image since you can make a copy yourself for free.