4 ms·

Does an NFT provide a mechanism for enforcement of ownership? If not, how is it better than copyright law? Under copyright law, I immediately own a work of art

by mch82 5y ago

Does an NFT provide a mechanism for enforcement of ownership? If not, how is it better than copyright law? Under copyright law, I immediately own a work of art I create (in your example, a Twitter profile pic I created) and have the right to decide who can display copies of my art. The issue isn’t proving ownership, the issue is copyright enforcement (I may not be able to afford the cost of defending my copyright claim in court).

bhaak 5y ago
NFTs don't solve anything on the copyright enforcement level. How could they? Your printer doesn't enforce copyright either when you print a document or an image you aren't allowed to print. Although I don't think there is any problem in doing a NFT like an ebook or a movie that is encrypted and the decryption key would be transferred to the wallet of the buyer when you sell or resell the NFT. But that's not how NFTs are used currently. Right now it's just "I bought this" (with not many rights being actually bought). What NFTs allow are open markets for these NFTs. Imagine the million dollar homepage redone with NFTs. Every pixel would be a single NFT. The homepage could automatically be generated from the public data and more importantly, the buyers of the pixels could try to buy more pixels on the open market after all pixels have been sold without the original artist/seller being involved. Or gaming assets. DLCs today can only be bought from the game developer. There's no secondary market (or at least not a legal one). Why? Because the game developer doesn't get a cut from resold DLCs. With NFTs this could change. The game developer gets a cut on every resell and even more important, you wouldn't be confined to the game developers shop system but could sell the DLCs on any shop that is compatible with the NFT standards. This opens up new market opportunities.

by mch82 5y ago

bhaak 5y ago

NFTs don't solve anything on the copyright enforcement level. How could they? Your printer doesn't enforce copyright either when you print a document or an image you aren't allowed to print. Although I don't think there is any problem in doing a NFT like an ebook or a movie that is encrypted and the decryption key would be transferred to the wallet of the buyer when you sell or resell the NFT. But that's not how NFTs are used currently. Right now it's just "I bought this" (with not many rights being actually bought). What NFTs allow are open markets for these NFTs. Imagine the million dollar homepage redone with NFTs. Every pixel would be a single NFT. The homepage could automatically be generated from the public data and more importantly, the buyers of the pixels could try to buy more pixels on the open market after all pixels have been sold without the original artist/seller being involved. Or gaming assets. DLCs today can only be bought from the game developer. There's no secondary market (or at least not a legal one). Why? Because the game developer doesn't get a cut from resold DLCs. With NFTs this could change. The game developer gets a cut on every resell and even more important, you wouldn't be confined to the game developers shop system but could sell the DLCs on any shop that is compatible with the NFT standards. This opens up new market opportunities.