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But why do you need an NFT for user 53245 has unique item xyz? Isn’t that just…software?

kranke155 5y ago
NFTs are actually a good way to enforce data portability. A big NFT website recently was deleted by its webmaster. Since everything was open source, and the JPEGs/art were hosted on IPFS, the commnity quite simply rebuilt the website frontend and nothing was lost. You can read more about this here: https://www.coindesk.com/tech/2021/11/18/what-hic-et-nuncs-resurrection-says-about-decentralized-infrastructure/ https://www.coindesk.com/tech/2021/11/18/what-hic-et-nuncs-r... This is the strength of having a decentralised open source blockchain - suddenly digital asset ownership can be "established" even if their utility for now is close to nil. But that's allowed a vibrant digital art market to explode.
- pupppet 5y ago
  Probably an ignorant question here, but what's stopping someone from taking someone's jpg, changing a few pixels, and adding it to the blockchain. How do you know which is the original?
  - kranke155 5y ago
    At this moment nothing. The more centralised markets - SuperRare, Nifty Gateway - probably do some form of KYC. That's the risk you take when using fully permissionless markets, but I'd say if you are a collector, you take 5 minutes to check whether the artist exists. I don't buy anything unless the artist is on Twitter/instagram linked to his profile. There are ways to verify identities on both Tezos and Ethereum blockchains which is usually how I look into and make sure the artist is legit. I myself own an Ethereum Name Service and Tezos domain (.eth and .tez). For a few dollars the owner of one of the main tezos scan websites also creates verified identities using Twitter profiles. Takes a bit of effort but it is worth it. Having an active twitter account is also a big thing in the NFT space, it helps enforce a minimum level of difficulty to art stealing.
  - jazzyjackson 5y ago
    Blockchain records provenance : who owned the token before you, so the nft is not “I own this jpeg”, it’s “I bought this jpeg from the artist with public key X”

NFTs are actually a good way to enforce data portability. A big NFT website recently was deleted by its webmaster. Since everything was open source, and the JPEGs/art were hosted on IPFS, the commnity quite simply rebuilt the website frontend and nothing was lost. You can read more about this here: https://www.coindesk.com/tech/2021/11/18/what-hic-et-nuncs-resurrection-says-about-decentralized-infrastructure/ https://www.coindesk.com/tech/2021/11/18/what-hic-et-nuncs-r... This is the strength of having a decentralised open source blockchain - suddenly digital asset ownership can be "established" even if their utility for now is close to nil. But that's allowed a vibrant digital art market to explode.

pupppet 5y ago
Probably an ignorant question here, but what's stopping someone from taking someone's jpg, changing a few pixels, and adding it to the blockchain. How do you know which is the original?
- kranke155 5y ago
  At this moment nothing. The more centralised markets - SuperRare, Nifty Gateway - probably do some form of KYC. That's the risk you take when using fully permissionless markets, but I'd say if you are a collector, you take 5 minutes to check whether the artist exists. I don't buy anything unless the artist is on Twitter/instagram linked to his profile. There are ways to verify identities on both Tezos and Ethereum blockchains which is usually how I look into and make sure the artist is legit. I myself own an Ethereum Name Service and Tezos domain (.eth and .tez). For a few dollars the owner of one of the main tezos scan websites also creates verified identities using Twitter profiles. Takes a bit of effort but it is worth it. Having an active twitter account is also a big thing in the NFT space, it helps enforce a minimum level of difficulty to art stealing.
- jazzyjackson 5y ago
  Blockchain records provenance : who owned the token before you, so the nft is not “I own this jpeg”, it’s “I bought this jpeg from the artist with public key X”