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The content hash would prove nothing. What you're buying is "this NFT was minted by this artist, as confirmed by their Twitter or verified OpenSea account or wh
by Kiro 5y ago
The content hash would prove nothing. What you're buying is "this NFT was minted by this artist, as confirmed by their Twitter or verified OpenSea account or whatever". The value is totally dependent on the social contract. Some random person minting the same NFT with the same hash would be worthless, unless they impersonate the artist.
- black_puppydog 5y agoFair point. Indeed content hash and signature from the artist would have to be on-chain, and somehow the signing party needs to be established as the real one as well. So... it's even worse that none of that is happening. With NFTs, to me it really just looks like BS all the way down.
- Kiro 5y agoI also think it's BS but not because of what the NFT contains or not. The signature is already intrinsically part of the NFT since you can see what wallet minted it on the blockchain. When you mint an NFT you sign the transaction on the blockchain with your wallet. As you say what actually matters is proof that the signing party is the real one. And this is where the social contract matters. What gives it value is that artist X says they own wallet Y and that you can see that NFT Z was minted by wallet Y. It's just a fugazi but it can't be fixed by adding stuff to the NFT object.