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How could there be fakes and plagiarism with NFTs? Isn't that the very problem it's supposed to be solving?

by emrah 5y ago

lewispollard 5y ago
Anyone can mint an NFT containing anything they want, if they have the crypto to fund the transaction. NFTs don't really solve many problems.
- phs318u 5y ago
  I'd argue it aids the never ending evolutionary force that parts fools from their money.
chii 5y ago
NFT is basically a digital certificate of authenticity that somebody made (of something). it's easy to make many, and pretend that they are legit.
- deleted 5y ago
  [deleted]
- YeBanKo 5y ago
  A mere NFT by itself is not a digital certificate of any kind. It is a small json snippet with a uri to an resource, that is not even stored on the blockchain.
  - chii 5y ago
    you've just described NFT to a T. The other aspects of an NFT, such as it being created by a trusted authority (like the original artist) is not encoded on the NFT itself. You have to trust the minter, you have to trust that other people see the minter as original, and you don't truly have a way to verify except via an existing social structure. aka, technology cannot solve this problem. That is why i call NFT a digital certificate of authenticity. It has the exact same problems as the paper version of a certificate (obviously, a digital version has some good utility like ease of trade/uncopiable and verification etc).
    - YeBanKo 5y ago
      In “paper” life, doesn’t instances of such certificates have various levels of notarization: wet stamps, seals, watermarks, actual signatures, actual notarization by a license notary? NFT does not define and have no way of enforcing authenticity. What would be an example when NFT can serve as such certificate?
emrah 5y ago
If I mint an NFT for something and its hash gets inserted into the blockchain, it should be possible to prevent minting the same thing again by checking against hashes in the chain before adding it in. If they won't even do that much, what's the point?!
- miracle2k 5y ago
  If you buy an NFT of a Blender artwork that the artist has "minted" in 4K quality, and he later exports an 8K copy, do you "own" the lower-res one but not the higher-res one? The answer is that the NFT represents the artwork, not the bytes in any particular file, in the same way that intellectual property law recognizes that the painting on your wall is merely a particular instantiation of the real, immaterial artwork that is protected. The trick is to understand that neither links nor hashes are a key component of the concept (though both are useful to create a link between ownership record and some kind of representation of an artwork).
designcode 5y ago
If I sell your comment as an NFT, who does the comment belong to ?

How could there be fakes and plagiarism with NFTs? Isn't that the very problem it's supposed to be solving?

by emrah 5y ago

How could there be fakes and plagiarism with NFTs? Isn't that the very problem it's supposed to be solving?

Anyone can mint an NFT containing anything they want, if they have the crypto to fund the transaction. NFTs don't really solve many problems.

phs318u 5y ago
I'd argue it aids the never ending evolutionary force that parts fools from their money.

chii 5y ago

NFT is basically a digital certificate of authenticity that somebody made (of something). it's easy to make many, and pretend that they are legit.

deleted 5y ago
[deleted]
YeBanKo 5y ago
A mere NFT by itself is not a digital certificate of any kind. It is a small json snippet with a uri to an resource, that is not even stored on the blockchain.
- chii 5y ago
  you've just described NFT to a T. The other aspects of an NFT, such as it being created by a trusted authority (like the original artist) is not encoded on the NFT itself. You have to trust the minter, you have to trust that other people see the minter as original, and you don't truly have a way to verify except via an existing social structure. aka, technology cannot solve this problem. That is why i call NFT a digital certificate of authenticity. It has the exact same problems as the paper version of a certificate (obviously, a digital version has some good utility like ease of trade/uncopiable and verification etc).
  - YeBanKo 5y ago
    In “paper” life, doesn’t instances of such certificates have various levels of notarization: wet stamps, seals, watermarks, actual signatures, actual notarization by a license notary? NFT does not define and have no way of enforcing authenticity. What would be an example when NFT can serve as such certificate?

emrah 5y ago

If I mint an NFT for something and its hash gets inserted into the blockchain, it should be possible to prevent minting the same thing again by checking against hashes in the chain before adding it in. If they won't even do that much, what's the point?!

miracle2k 5y ago
If you buy an NFT of a Blender artwork that the artist has "minted" in 4K quality, and he later exports an 8K copy, do you "own" the lower-res one but not the higher-res one? The answer is that the NFT represents the artwork, not the bytes in any particular file, in the same way that intellectual property law recognizes that the painting on your wall is merely a particular instantiation of the real, immaterial artwork that is protected. The trick is to understand that neither links nor hashes are a key component of the concept (though both are useful to create a link between ownership record and some kind of representation of an artwork).

designcode 5y ago

If I sell your comment as an NFT, who does the comment belong to ?