3 ms·

Your tool detects 'fraud and forgery' of something that no-one actually owns? How exactly does that work?

kkielhofner 4y ago
For the creator of the work they absolutely own the copyright of the work. For them FNFTF can show them copies or unauthorized derivative works. For any other use the situation is more complicated. Some NFTs confer ownership and/or use rights. There's additional value with FNFTF in that users who are thinking of purchasing an NFT can have confidence they're not buying a copy that may not have the value, confer the rights, or provide some additional benefit they think it might. Like any other counterfeit good, as we speak someone is buying an NFT as (if nothing else) an asset class and paying what they think it is worth. If someone is spending tens or hundreds of thousands of dollars on an Ape (for example) they may find out down the line that it's a copy and no one considers it to be worth anything. This isn't an different from forged works that have been sold for all of human history. Then there are marketplaces and other uses. Marketplaces can use the underlying API powering FNFTF to prevent copied content from ending up on their platform, removal of fraudulent/inauthentic content, etc.
- rantallion 4y ago
  So if I have this right, NFTs are a way to hand over a wad of money to get a receipt back that demonstrates proof of ownership of something that isn't in your possession and which can be deleted/modified/copied at any time, and your tool is a way for buyers to have increased confidence that the thing which can be deleted/modified/copied at any time is in fact the original? I think I'm too old for this nonsense.
  - smoldesu 4y ago
    You're really close, actually! NFTs are a way for you to get a ledger that attests your ownership of the item by some arbitrary group. This arbitrary group is not respected nor recognized by any law to be a standard (nor is it flawless), and ultimately gives you no authoritative power over the object except for limited scenarios where said arbitrary group faithfully administrates your marketplace. Oh, but there's the fact that nobody will operate faithfully in the face of turmoil, and coins like $LUNA will backstab their top 1% of users to stop the coin from collapsing. None of these are safe or sane. I think all of us are too old for this nonsense.

For the creator of the work they absolutely own the copyright of the work. For them FNFTF can show them copies or unauthorized derivative works. For any other use the situation is more complicated. Some NFTs confer ownership and/or use rights. There's additional value with FNFTF in that users who are thinking of purchasing an NFT can have confidence they're not buying a copy that may not have the value, confer the rights, or provide some additional benefit they think it might. Like any other counterfeit good, as we speak someone is buying an NFT as (if nothing else) an asset class and paying what they think it is worth. If someone is spending tens or hundreds of thousands of dollars on an Ape (for example) they may find out down the line that it's a copy and no one considers it to be worth anything. This isn't an different from forged works that have been sold for all of human history. Then there are marketplaces and other uses. Marketplaces can use the underlying API powering FNFTF to prevent copied content from ending up on their platform, removal of fraudulent/inauthentic content, etc.

rantallion 4y ago
So if I have this right, NFTs are a way to hand over a wad of money to get a receipt back that demonstrates proof of ownership of something that isn't in your possession and which can be deleted/modified/copied at any time, and your tool is a way for buyers to have increased confidence that the thing which can be deleted/modified/copied at any time is in fact the original? I think I'm too old for this nonsense.
- smoldesu 4y ago
  You're really close, actually! NFTs are a way for you to get a ledger that attests your ownership of the item by some arbitrary group. This arbitrary group is not respected nor recognized by any law to be a standard (nor is it flawless), and ultimately gives you no authoritative power over the object except for limited scenarios where said arbitrary group faithfully administrates your marketplace. Oh, but there's the fact that nobody will operate faithfully in the face of turmoil, and coins like $LUNA will backstab their top 1% of users to stop the coin from collapsing. None of these are safe or sane. I think all of us are too old for this nonsense.