6 ms·
You can tell who minted it. So the "uniqueness" comes from the fact that the original artist minted the NFT and the timestamp tells you if this was the first an
by skizm 5y ago
You can tell who minted it. So the "uniqueness" comes from the fact that the original artist minted the NFT and the timestamp tells you if this was the first and/or only one minted by this artist for this URL.
- jordemort 5y agoIs there any sort of in-band mechanism for verifying that the key that minted a particular NFT belongs to a specific person, or does that have to be done manually/off-chain? Is it the usual case that people purchasing NFTs or marketplaces selling them undertake that kind of due diligence before completing a transaction?
- nkeebs 5y agoThe marketplace for the most part does this for you. The artist directs buyers to the marketplace page for their project and the marketplace pulls information directly from the blockchain. If you want additional security you can manually lookup the history of a project on etherscan. There are scammers that make copy-cat projects but it is usually easy to steer clear of them by getting contract address/marketplace info from the artist on twitter or discord.
- falcolas 5y agoUntil the artist needs money, and “mints” more NFTs for the same URL.
- skizm 5y agoTimestamp shows which one came first.
- falcolas 5y agoSo? That doesn't make the following ones invalid. At best, it's like a numbered print. The point is, there's no scarcity built in to an NFT. Scarcity builds far more value than a position in line.
- clippablematt 5y agoThat’s on them and their reputation. Why would an artist intentionally damage their community and legitimacy.
- falcolas 5y agoSame reason anybody does? Bags of money. Personal Opinion: By selling NFTs - metadata about the art and not the art itself - their integrity as an artist is already somewhat suspect in my mind.
- root_axis 5y agoIn other words, the NFT adds nothing of value since you already have to establish an out of band trust chain with the artist.