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TheNFTBay: Fake, but Worth Discussing

clubnft.com

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Re: TheNFTBay: Fake, but Worth Discussing

#21

Post by moron4hire »

GDC7 wrote: post #16
meheleventyone wrote: post #14

Earlier quoted context omitted.

Even then you can bootleg the virtual world, the real world not so much.

You technically can do it in the real world! It's called stealing the painting lol. When buying an NFT you are essentially betting that society would come around to equate "right-clicking" with stealing. And that would employ the same social and technological resources to prevent right-clickers to do their bidding as it does today to prevent thief from stealing paintings from museums.

But the NFT didn't give you ownership of the image, so what right do you have as the NFT owner to tell people not to right-click?

Re: TheNFTBay: Fake, but Worth Discussing

#22

Post by pfdietz »

zepto wrote: post #2

> The value of an NFT is in having the right to insert yourself into that story, as the owner of that work, and with the ability to transfer that right to another person (i.e. selling the work). This is a false statement. The NFT doesn’t make you the owner of ‘the work’. It makes you the owner of the NFT. > The same way purchasing a painting gives you the right to resell that painting and prove to others that you are…

NFTs are like those old "star registry" scams. For $20 (or whatever), we'll write your name alongside this star in our registry book, and send you a certificate!

Re: TheNFTBay: Fake, but Worth Discussing

#23

Post by gruez »

GDC7 wrote: post #16
meheleventyone wrote: post #14

Earlier quoted context omitted.

Even then you can bootleg the virtual world, the real world not so much.

You technically can do it in the real world! It's called stealing the painting lol. When buying an NFT you are essentially betting that society would come around to equate "right-clicking" with stealing. And that would employ the same social and technological resources to prevent right-clickers to do their bidding as it does today to prevent thief from stealing paintings from museums.

I don't fully agree with your characterization. I'm more in favor of:

Stealing the painting = hacking the wallet/private key to transfer the NFT

Taking a picture of the painting = right clicking

Re: TheNFTBay: Fake, but Worth Discussing

#24

Post by chrisco255 »

zepto wrote: post #2

> The value of an NFT is in having the right to insert yourself into that story, as the owner of that work, and with the ability to transfer that right to another person (i.e. selling the work). This is a false statement. The NFT doesn’t make you the owner of ‘the work’. It makes you the owner of the NFT. > The same way purchasing a painting gives you the right to resell that painting and prove to others that you are…

> If you own an NFT, you have no more rights over the media than someone who doesn’t own an NFT.

False. Just like open source software, the devil is in the details (usually the LICENSE.md file). NFT projects vary dramatically in the rights they convey to holders. To the extent that these meatspace rights are enforceable, some convey commercial use, some convey personal use, some are published as creative commons, and some are ambiguous.

The NFT space is rather immature compared to open source software, however. The ambiguity is a real problem. The space would do well to standardize on licenses and stamp that on the NFT's metadata.

But in the meantime, by convention in Web3, the apps and websites that integrate NFTs respect the ownership and provide verification of ownership for integrations, such as virtual art galleries, exclusive events or areas in Decentraland, profile pic verification on ENS, wallet gallery on OpenSea, avatars in Sandbox, etc.

By convention, web3 marketplaces also respect royalties with original artists on resales.

NFTs are tokens that can be used and verified as arbitrary authentication tokens for anything, whether it be a real life event or product or access to some software or other virtual benefit.

Re: TheNFTBay: Fake, but Worth Discussing

#25

Post by nefitty »

gfodor wrote: post #19
zepto wrote: post #2

> The value of an NFT is in having the right to insert yourself into that story, as the owner of that work, and with the ability to transfer that right to another person (i.e. selling the work). This is a false statement. The NFT doesn’t make you the owner of ‘the work’. It makes you the owner of the NFT. > The same way purchasing a painting gives you the right to resell that painting and prove to others that you are…

You’re presuming ownership universally means copyright. It doesn’t. Ownership is as much a cultural norm as a legal one. Owning the NFT, in certain circles, allows you to participate in an alternative cultural norm of ownership, decoupled from copyright ownership.

I tried to understand what you said but it ends up indecipherable like a koan. In this case, this koan confers a monetary benefit to the self-appointed Zen Masters of crypto. For only a few dollars the followers get a little sticker that says "Enlightened".

Re: TheNFTBay: Fake, but Worth Discussing

#26

Post by chrisco255 »

pfdietz wrote: post #22
zepto wrote: post #2

> The value of an NFT is in having the right to insert yourself into that story, as the owner of that work, and with the ability to transfer that right to another person (i.e. selling the work). This is a false statement. The NFT doesn’t make you the owner of ‘the work’. It makes you the owner of the NFT. > The same way purchasing a painting gives you the right to resell that painting and prove to others that you are…

NFTs are like those old "star registry" scams. For $20 (or whatever), we'll write your name alongside this star in our registry book, and send you a certificate!

They're not, because the star registry doesn't have provenance of the Milky Way.

Re: TheNFTBay: Fake, but Worth Discussing

#27

Post by rvz »

zepto wrote: post #2

> The value of an NFT is in having the right to insert yourself into that story, as the owner of that work, and with the ability to transfer that right to another person (i.e. selling the work). This is a false statement. The NFT doesn’t make you the owner of ‘the work’. It makes you the owner of the NFT. > The same way purchasing a painting gives you the right to resell that painting and prove to others that you are…

Let's just say that this wave of NFTs (in images, videos, audio) are going to die out in favour of the discovery of 'useful' NFTs.

The future will probably begin to expand to more than just 'images, audio and video', which those specific NFTs in those categories are absolutely useless.

Re: TheNFTBay: Fake, but Worth Discussing

#28

Post by shiohime »

I someday hope that people realize what you can do with single issue tokens beyond simply having a link to cloud storage. You can create products that utilize this same behavior, but also leverage proof of ownership to create actual unique applications. With even just an ounce of developer ingenuity, you can use NFTs as an access token to whatever service you wish to provide.

I put together a collection that is both art + access to an interactive service that relies on ownership of a token. The right-click download picture is completely meaningless as the true power is simply proof of ownership of the piece, having a copy of the image means nothing if you don't own the token and you will be denied access to the service. I guess it's a completely new concept in a lot of ways and not many people have yet implemented this to scale but it's a fascinating concept to me personally.

Re: TheNFTBay: Fake, but Worth Discussing

#29

Post by floatboth »

originalcvk wrote: post #5
zepto wrote: post #4

Earlier quoted context omitted.

> Similarly, this community has agreed that a contract written in a certain form, with the requisite signatures and registrations, conveys ownership of a piece of art. Except that they simply haven’t. Try taking someone’s house from them. You’ll find that it’s not just semantics that defines ownership. Try copying the artwork pointed to by an NFT. You’ll find the NFT doesn’t stop you. > If at this point you are tryin…

If you have finished reading the post by now (seems you are commenting and editing as you go along), I think I make it pretty clear when it gets to more detail that the NFT is the thing you own, the right to transfer that NFT is the thing of value, and what gives it value is the person and context around who made it in the first place. Further, I make it clear exactly what rights you and others have over the media, w…

> what gives it value is the person and context around who made it in the first place

BS. That’s the marketing excuse. The real value is only in the fact that you can potentially sell it to a greater fool who will buy for more so you won’t be the one holding the bag. It’s the new tulip mania!

Re: TheNFTBay: Fake, but Worth Discussing

#30

Post by akira2501 »

zepto wrote: post #2

> The value of an NFT is in having the right to insert yourself into that story, as the owner of that work, and with the ability to transfer that right to another person (i.e. selling the work). This is a false statement. The NFT doesn’t make you the owner of ‘the work’. It makes you the owner of the NFT. > The same way purchasing a painting gives you the right to resell that painting and prove to others that you are…

What does "ownership" of an NFT even mean? Can you even repudiate ownership later if you so chose? Can you remove the record of your ownership of the NFT? Can you transfer that ownership outside of the blockchain?

NFTs seem like blockchain graffiti. You've purchased the right to tag a passing train car, that's all.

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