10 ms·
Two NFT copycats are fighting over which is the real fake Bored Ape Yacht Club
- falcolas 5y agoToday on “Only on the blockchain”…
- Zealotux 5y agoTruly glad we're in web3, freeing the human spirit like no other innovation before.
- tomschlick 5y agoFreeing idiots from their money is more like it.
- beckman466 5y agoyep, OP was sarcastic. i checked their comment history to see whether they are an NFT grifter or not (with HN i'm never sure). luckily they aren't: https://news.ycombinator.com/item?id=28378932 https://news.ycombinator.com/item?id=28378932
- beckman466 5y ago'web3', like 'cloud' and many other terms before it, is a way to confuse non-programmers and convince them that computers and networking are Silicon Valley-only magic.
- rvz 5y agoSee. They know it is a scam. These types of NFTs will be the first to fall when the buyers realise that the NFT sellers are running out of ideas for their JPEGs and remixes with no-one else left to buy them. The right-click-save people will soon declare victory of the fight overall, given that these fake NFTs will both lose this small fight. But it won't be the last of NFTs in general. Someone will find a 'killer-app', that uses NFTs.
- nradov 5y agoDo you mean a killer app like money laundering or tax fraud?
- DenisM 5y agoNow that you mentioned it… fine art serves a purpose of legal tax avoidance, and NFTs can do that too if they get dialed in just right.
- dopidopHN 5y agoI would like to see NFT as actual non fungible money token. Like a QR code that can be scan once, then change a state on-chain once it’s done. And peg to a stable coin. Could that allow to “print money”? Maybe some wallet can already do that.
- GhostVII 5y agoThis is what I don't really get about NFTs. Just because you own a token pointing to a particular object, doesn't mean you actually own that object unless someone in the real world enforces that link. And if someone in the real world has to enforce that link, what is the point of the NFT? The ownership is still being enforced by a single organization or individual. You might as well have that organization or individual track ownership themselves if they are also supposed to enforce it. In this case it seems like the open seas marketplace is trying to become this organization that enforces the link. Which really defeats the point of a decentralized system.
- kibwen 5y ago> This is what I don't really get about NFTs. As usual for people saying this, you do get it. Anything whose bits do not literally live on the blockchain cannot be decentralized via blockchain; the need for a centralized oracle makes ownership of the NFT's linked asset a centralized affair.
- danlugo92 5y agoNfts will be enforced by client software in web3.
- weego 5y agoHow do you trust the client software? Who writes it? How do they build the provenance that they can be trusted?
- danlugo92 5y agoYou don't trust the TCP/IP implementation on your current system?
- phoe-krk 5y agoSo, in other words, unless you and everyone else uses a specially prepared and non-FOSS web3 browser which employs NFT DRM, there's no enforcement.
- 5y ago
- WHA8m 5y agoWhy is this on hn front page? There is no need in giving attention to stories like this. This is nothing but short-lived internet drama that's easy to make fun of.
- stareblinkstare 5y agoYou've answered your own question.
- deleted 5y ago[deleted]
- deleted 5y ago[deleted]
- Traster 5y agoI think it's actually interesting to see how NFTs cope with the real copyright issues that they claim to be solving.
- WHA8m 5y agoSurely, interesting questions and topics can arise from the NFT space - like any other tech, really. But that's not the question. Did this particular story gave you any new insight into copyright issues with NFTs? For me it didn't.
- BobbyJo 5y agoIt did for me. It's interesting to see how the blockchain works out when it is applied to a real world problem. In this case, it's art ownership. Arguably the low-hanging fruit as far as blockchain applications go. I see real value of blockchain as a technology, but this makes me think, maybe it's value is more like a trustworthy public database and less like a new economy.
- WHA8m 5y ago
- MR4D 5y agoHonest question - why couldn’t someone just creat a new NFT that points to the same picture? I mean, why did they have to copy the picture - they already have the URL to it. This is one of those things I still don’t fully understand.
- mmastrac 5y agoThey literally can. One just has a different blockchain provenance than the "original" but they are otherwise identical. The only thing giving NFTs value are people's belief in the value, making these a hilariously ironic fiat system.
- berberous 5y agoFiat money has no intrinsic value but has value because the government, by fiat/decree, says it does. While commodity money has “intrinsic” value because it is useful, that doesn’t mean that much of its value is not due to people’s belief in the value. The value of gold exceeds any true value from its usefulness, but it is value stemming from people’s shared belief in the value. So I don’t think it’s at all accurate to call this a ‘fiat’ system.
- BobbyJo 5y agoYour comment makes me believe it is accurate to call it a fiat system. I didn't quite catch which bucket you were claiming NFTs/Crypto fall into? Crypto/NFTs have no intrinsic value. They actually have intrinsic liabilities in terms of resource usage to move it around and keep it alive. It only has value because the buyers/sellers/miners claim/believe it does, which is fiat no?
- berberous 5y agoMy argument is purely a semantics one. The defining aspect of a “fiat” system is that it has value only by decree (“fiat”), from men with guns. Both crypto and gold, conversely, have value primarily because humans say they do (because they have certain other features, such as are scarce). While gold has certain value as jewelry or in industrial uses, that is not why it has value as money; its value far exceeds that of its practical uses and is based on a shared belief that it is valuable. I also disagree that crypto and NFTs have no intrinsic value, but that’s not the point here. Even if you believe they have no intrinsic value, I think jumping to therefore call it a “fiat” system is a semantic mistake that misunderstands the distinctions being fiat and other monetary systems.
- AlexandrB 5y ago> But Yuga Labs owns the copyright on its ape images, and PAYC and PHAYC were booted from OpenSea apparently for violating its rules against copyright infringement. What does it mean for an NFT to be booted from a marketplace? It's still tradable on the blockchain, right? Does getting booted affect the hosting of the .jpgs the NFTs point to?
- angio 5y agoNo the NFT itself is fine, the issues that OpenSea is the biggest marketplace by far and so it becomes more difficult to buy the copycats. There is currently no good decentralized marketplace for NFTs.
- andybak 5y ago> There is currently no good decentralized marketplace for NFTs. Which itself is ironic.
- it_citizen 5y agoNFTs used for monkey laundering. It could be a satiric piece.
- gorgoiler 5y agoGood old copyright infringement. No need to muddy the waters with techno-web9 cyberdollar digibabble.
- BoysenberryPi 5y agoNFT sites like OpenSea not doing anything to fight stolen art is a massive problem and the artist community has very little recourse.
- raiyu 5y agoOnce again the promise of decentralized crypto rests on centralized authority. Either it's Coinbase or one of the other exchanges that facilitate purchase or trading of currencies, or OpenSea which facilitates the sale of NFTs, it all eventually becomes centralized because the underlying layer is simply too complicated for every day consumers.
- ineedasername 5y agoInteresting that OpenSea resorted to copyright. This underscores the point that an NFT is not the thing itself. And the thing itself may be very very fungible.