4 ms·

Little point in an NFT if it's the legal system protecting you, the downfall of NFT's, it serves little purpose. I mean Shutterstock has been around for ages.

stjohnswarts 5y ago
Yeah, really no more valuable than a dead tree format certificate with an artists' signature of authenticity on it. Much like that not worth the paper it's printed on if so one isn't enforcing it or a very large body of people agree "that's the one"
- miracle2k 5y ago
  Yes, its exactly like that - and that's fine. That is how they are designed and intended.
obiefernandez 5y ago
NFT provides publicly verifiable record of ownership and limited edition-ness (aka scarcity), which has the side effect of making buyers treat digital files like tangible items. All the decentralized posturing and politics is a distraction from actual entrepreneurs building actual real-world applications, using NFT in the same way you use SQL or HTTP
- m12k 5y ago
  >NFT provides publicly verifiable record of ownership and limited edition-ness (aka scarcity) Could you explain how the NFT provides the latter? Because it sounds like that's what your contract process and legal assurances ensure - those aren't happening on the blockchain, are they?
  - obiefernandez 5y ago
    I’m not referring to ownership of the underlying copyright. I’m referring to ownership of the limited edition good! Works really well for that.
    - deleted 5y ago
      [deleted]
    - m12k 5y ago
      Right, I was asking about the other half of your claim: How does the NFT provide proof of the "limited edition-ness (aka scarcity)" of the good that it provides proof of ownership for? I don't see how the NFT or blockchain allows you to verify that - as far as I can tell, that must always be a matter of trusting your company, and the process it has in place before minting things, to ensure no duplicates are ever made.
- 88913527 5y ago
  A digital file isn't scarce. I can make as many copies as I want.

stjohnswarts 5y ago

Yeah, really no more valuable than a dead tree format certificate with an artists' signature of authenticity on it. Much like that not worth the paper it's printed on if so one isn't enforcing it or a very large body of people agree "that's the one"

miracle2k 5y ago
Yes, its exactly like that - and that's fine. That is how they are designed and intended.

obiefernandez 5y ago

NFT provides publicly verifiable record of ownership and limited edition-ness (aka scarcity), which has the side effect of making buyers treat digital files like tangible items. All the decentralized posturing and politics is a distraction from actual entrepreneurs building actual real-world applications, using NFT in the same way you use SQL or HTTP

m12k 5y ago
>NFT provides publicly verifiable record of ownership and limited edition-ness (aka scarcity) Could you explain how the NFT provides the latter? Because it sounds like that's what your contract process and legal assurances ensure - those aren't happening on the blockchain, are they?
- obiefernandez 5y ago
  I’m not referring to ownership of the underlying copyright. I’m referring to ownership of the limited edition good! Works really well for that.
  - deleted 5y ago
    [deleted]
  - m12k 5y ago
    Right, I was asking about the other half of your claim: How does the NFT provide proof of the "limited edition-ness (aka scarcity)" of the good that it provides proof of ownership for? I don't see how the NFT or blockchain allows you to verify that - as far as I can tell, that must always be a matter of trusting your company, and the process it has in place before minting things, to ensure no duplicates are ever made.
88913527 5y ago
A digital file isn't scarce. I can make as many copies as I want.