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This article misses the very deepest level on which this is all utter nonsense: An NFT does not actually grant you "ownership" of an image in any meaningful wa

This article misses the very deepest level on which this is all utter nonsense: An NFT does not actually grant you "ownership" of an image in any meaningful way. The only real way to "own" a digital image is to own the copyright to it, but NFTs do not grant you that. Sometimes, you may have a separate contract of transfer of copyright that you get along with the NFT, but the NFT is not part of that contract. You can sell the NFT on and keep the copyright, if you want. The only thing you "own" when you buy an NFT is the NFT itself, which is basically nothing but a receipt.

nybble41 5y ago
Exactly. There isn't anything "exclusive" about the content referenced in an NFT. The closest analog in physical artwork would be a signed & numbered print from a limited series—there may be many other copies of the same image, but this particular one is yours. The protocols for NFTs basically dictate that the underlying image must be available to everyone so that whoever purchases the NFT will be able to access it. Usually this means publishing the content on a decentralized network like IPFS. For the particular NFT in this story, the metadata can be seen here: https://api.opensea.io/api/v1/asset/0x8943c7bac1914c9a7aba750bf2b6b09fd21037e0/348 https://api.opensea.io/api/v1/asset/0x8943c7bac1914c9a7aba75... Note that there is nothing in the metadata about a transfer of copyright or an exclusive license. The original image was shared to the world by the artist through IPFS here: ipfs://QmaeqEgbu2sEHpJ9ghur44kcvGqBc5cvRTTu3YsRzkGFSh … which you can access using your own IPFS node or through any IPFS gateway, for example ipfs.io: https://ipfs.io/ipfs/QmaeqEgbu2sEHpJ9ghur44kcvGqBc5cvRTTu3YsRzkGFSh https://ipfs.io/ipfs/QmaeqEgbu2sEHpJ9ghur44kcvGqBc5cvRTTu3Ys...
stemlord 5y ago
Right, many seem to have forgotten that Getty Images exists and is still probably more foolproof than NFTs at regulating ownership, at least in the commercial space
stncls 5y ago
Yes! On this point, it's funny to see how Beeple gets extra animated in this interview to make absolutely clear that he still retains copyright on all his NFT'd artwork: https://m.youtube.com/watch?v=13U573keZ3A&t=1374 https://m.youtube.com/watch?v=13U573keZ3A&t=1374
eldelshell 5y ago
I don't remember where but a guy made the comparison between NFT and those companies that sell stars, or land in Mars or the Moon, like they'll sell you a paper that says you own Proxima B. This is the best way to understand NFT.

nybble41 5y ago

Exactly. There isn't anything "exclusive" about the content referenced in an NFT. The closest analog in physical artwork would be a signed & numbered print from a limited series—there may be many other copies of the same image, but this particular one is yours. The protocols for NFTs basically dictate that the underlying image must be available to everyone so that whoever purchases the NFT will be able to access it. Usually this means publishing the content on a decentralized network like IPFS. For the particular NFT in this story, the metadata can be seen here: https://api.opensea.io/api/v1/asset/0x8943c7bac1914c9a7aba750bf2b6b09fd21037e0/348 https://api.opensea.io/api/v1/asset/0x8943c7bac1914c9a7aba75... Note that there is nothing in the metadata about a transfer of copyright or an exclusive license. The original image was shared to the world by the artist through IPFS here: ipfs://QmaeqEgbu2sEHpJ9ghur44kcvGqBc5cvRTTu3YsRzkGFSh … which you can access using your own IPFS node or through any IPFS gateway, for example ipfs.io: https://ipfs.io/ipfs/QmaeqEgbu2sEHpJ9ghur44kcvGqBc5cvRTTu3YsRzkGFSh https://ipfs.io/ipfs/QmaeqEgbu2sEHpJ9ghur44kcvGqBc5cvRTTu3Ys...

stemlord 5y ago

Right, many seem to have forgotten that Getty Images exists and is still probably more foolproof than NFTs at regulating ownership, at least in the commercial space

stncls 5y ago

Yes! On this point, it's funny to see how Beeple gets extra animated in this interview to make absolutely clear that he still retains copyright on all his NFT'd artwork: https://m.youtube.com/watch?v=13U573keZ3A&t=1374 https://m.youtube.com/watch?v=13U573keZ3A&t=1374

eldelshell 5y ago

I don't remember where but a guy made the comparison between NFT and those companies that sell stars, or land in Mars or the Moon, like they'll sell you a paper that says you own Proxima B. This is the best way to understand NFT.