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NFTs provide proof of ownership of something unique, not enforcment. You are still free to put any jpeg you want on any profile pic you want. Like you can repro

NFTs provide proof of ownership of something unique, not enforcment. You are still free to put any jpeg you want on any profile pic you want. Like you can reproduce and hang a multi million dollar painting on your wall without enforcement but that provides no proof you own the original thing. I do not get the argument that an algorithm for decentralized proof of ownership of an unique token has any moral attribution to it. If anything it enables a future where content creators can get income for their content without the ad industry (youtube, major labels, facebook etc) getting any cut. And that could lead to the erosion of IP laws all together. We are already seeing experiments with distribution of royalties implemented with NFT smart contracts of today and the tech is still in it's infancy both in implementation and applications. The reality is that good content, be it art or media, needs revenue for the content creators to produce content. Currently their options are limited to censoring themselves in the name of profit because profits are gatekeeped by the ad industry via the monopolies of google facebook and amazon. A future where digital economies are decentralized and self sufficient, where anyone can publish and make royalties via the uniqueness of holding the "original" work of content and all future developments in this space is a future I look forward to.

arcticbull 5y ago
As the article rightly points out NFTs do not provide proof of ownership of the underlying asset just of the NFT itself. And even that’s only true if you choose to view them as bearer instruments. The law governs ownership of the underlying not the chain. Divergence will always settle in favor of the law.
- pennaMan 5y ago
  Yes, just like a house ownership contract by itself is just a piece of paper and is independent of the underlying house. And to prove your ownership of your house that contract must be validated by a central authority - a goverment. A house ownership NFT on the other hand requires no central authority for validation and complete strangers can exchange that house without a central authority being involved in proof of trust, and the buyer can immediatly charge rent based on his new ownership of the house. Thus removing several layers of bureaucracy. Indeed, enforcment against mallicious misapropiation of ownership still requires a central authority with monopoly on violence.

arcticbull 5y ago

As the article rightly points out NFTs do not provide proof of ownership of the underlying asset just of the NFT itself. And even that’s only true if you choose to view them as bearer instruments. The law governs ownership of the underlying not the chain. Divergence will always settle in favor of the law.

pennaMan 5y ago
Yes, just like a house ownership contract by itself is just a piece of paper and is independent of the underlying house. And to prove your ownership of your house that contract must be validated by a central authority - a goverment. A house ownership NFT on the other hand requires no central authority for validation and complete strangers can exchange that house without a central authority being involved in proof of trust, and the buyer can immediatly charge rent based on his new ownership of the house. Thus removing several layers of bureaucracy. Indeed, enforcment against mallicious misapropiation of ownership still requires a central authority with monopoly on violence.