It’s not even the picture, it’s the promise you own a picture
Holding an NFT can give you ownership of an image. If you have a bored ape NFT you own some legal rights to the image.
That’s because of contract law, and IP law. A contract assigns the copyright to the holder of the NFT, and governments enforce legal contracts.
The only thing that gives NFTs any claim to value is the fact that a centralized authority can enforce it. The entire concept behind the decentralized leaderless authority of the blockchain is a myth.
Yeah you can own an NFT but you can own any image through a license agreement with the owner.
Yes… That’s the point of my comment.
“You own the image“ functionally doesn’t mean anything in the context of NFT’s because the image component in an NFT is not actually exchanging hands so there’s nothing to truly enforce here. It doesn’t grant exclusive rights and all that comes with it, it just gives them ownership rights - an artist can’t say the owner can’t use it for their own purposes. People can screenshot it, make memes of that, etc. and you have no legal recourse because you do not have exclusive rights to the actual work. They did nothing that violates your ownership. The NFT is you have a receipt that nobody can dispute that says “I own this receipt associated with this image and can use it as such.”
When I shoot video and give people a screener, I watermark it and have legal rights to the image/video content itself. They cannot duplicate it or use it in any fashion without risking legal action by me against them. NFT’s do not have that same protection. I can screenshot a bored ape image that someone “owns,” barely augment it, and mint a new NFT with no repercussions from the person who bought the original NFT. The original artist could come after me potentially because they have the actual exclusive rights to the creation, which again does not transfer with an NFT purchase.
In addition, you don’t even own the means to protect the receipt. If the blockchain goes down, your receipt is meaningless and you don’t even have exclusive rights to the image to sell or license out.
To give one more example: if I buy a video game, I have certain ownership rights associated with that disk. This is assuming physical copies of course. I can do whatever I want with that physical copy within the bounds of ownership of a distributed IP. I can snap it in half, I can back it up to a drive, etc. What I cannot do is make copies and distribute it because I have no rights to the IP, it has not been transferred to me with the purchase. The developer/publisher still has exclusivity, they control the IP. And if somebody else makes copies of my gave to be distributed, I have no legal recourse. This is really the key factor here. That law they’re breaking is not about my ownership, it’s about the game developer and publisher’s rights to the IP. They are the only ones who have legal recourse. NFTs, it’s the same way. The artist has all of the legal protections that come with IP ownership. Not the person who bought an NFT of the artwork.
TL;DR: NFT’s are buying receipts. They’re roughly as useful as “a certificate of authenticity“ they comes bundled with collectors items that were sold on infomercials in the 90s and 2000s. Except you don’t even get to store the certificate yourself, you’re dependent on somebody else
And the picture itself is just a randomly generated picture of a money or a picture of Donald Trump photoshopped into something from the first page of Google images.
Imagine waving the receipt of your brand new TV you don’t have in your home around in public for prestige
It’s more like you have a receipt for a link of where to get the manual for the TV.
I was pretty shocked when I found out that NFT pictures aren’t even stored in the block chain. NFTs are just records on the block chain with links to images stored on ordinary servers.
There are now Bitcoin Ordinals, which are similar to NFTs but with a sufficient size limit to actually store the media itself.
Interesting, but the scarcity this is trying to manufacture still doesn’t apply to the image itself which can be easily and endlessly copied.
I’m pretty sure you could always store a full image in an NFT on ethereum, it’d just cost stupid high transaction fees.
This is because you (in theory) need the whole blockchain to validate an NFT, so you want to keep it as small as possible.
But since you store the Cryptographic Hash of the image too, you can validate that the image on the server is actually the same one referenced by the blockchain. You could even move it to another server, but it will break the link obviously
Except you don’t own that server and have no control over it, and if the server owner takes the image offline you’re screwed
It does not really matter. You’ve still got the JPEG (or whatever else). Just calculate the hash and you can proof that it’s the one referenced.
You don’t even buy the photo, you buy the hyperlink to the photo. In a sense, your buying the treasure map to gold, but you can’t have the gold.
Its like buying gold on the stock market pretty much. You cant have it in your hands but you still own it and it has value
No, you buy a certificate of ownership. That’s what NFT is.
Cryptobros incoming to tell us all the real-world problems blockchain’s going to solve any day now in 3… 2…
The point of blockchains is decentralization, and as Lemmy users we know that decentralized services are difficult to make popular, even if they’re an improvement over their competitors.
This^
My desire for drugs
I got 99 problems, but a blockchain solves none
“This comment is an NFT and if you screenshot this I will sue your ass without hesitation. Please paypal me 4500 USD if you would like this comment, and don’t mess with me. I got my whole crypto gang on my side. We will fuck you up if you try stealing this comment, so don’t fuck with us.”
“This comment is an NFT and if you screenshot this I will sue your ass without hesitation. Please paypal me 4500 USD if you would like this comment, and don’t mess with me. I got my whole crypto gang on my side. We will fuck you up if you try stealing this comment, so don’t fuck with us.”
Why are they asking for fiat currency?
Oops
They can’t read because they burned their eyes.
I think it defies the concept of property in its core.
Crypto
BrosLosers would be really mad at reading that, if they weren’t busy fellating the owners of BoredApes after they made them blind.…
What? No, that’s not a joke.
https://www.theverge.com/2023/11/6/23948464/bored-ape-nft-event-eye-injury-sunburn-uv-exposure
“Had a good time with the homies who also got their eyes burned”. These people are unbelievably down there in the pathetic human scale.
What the fuck. I’ve been to many, many clubs and shows with creative lighting, and never once heard of or experienced a problem like this. This had to be reckless ignorance on the event planners to result in something like this. Holy shit.
Shes right an nft is a hallway to the picture. You don’t even own to picture
I thought NFTs is the title to the car. Just a title without any law backing it up.
No, because an NFT just tells you were the picture is on the block chain. In theory If you had access to the block chain and another picture you can just change the picture stored at that point
Some hacker needs to make it a mission to replace every Bored Ape and Trump Card NFT with Goatse.
In theory If you had access to the block chain and another picture you can just change the picture stored at that point
In theory if you had access to your bank’s safe you could just take out money.
Well, you dont.
In the US money is insured. You will get your money back
The point was that if you had access to it, you could do some bad stuff but you wont ever have access to it.
You cant have access to the blockchain so you couldnt change anything. Saying “if i had access to the blockchain,…” is like saying “if I had access to your stuff, I could steal it”. Yeah, thats right but that doesnt mean anything…
Physical money is just metal, plastic and paper.
The problem is the virtual value we give certain things.
NFT’S
Stay in school, kids.
I twitch every time I see a basic English error in a meme.
Actually NFTs aren’t even pictures xD
Imagine buying a hyperlink 😭
Hey, domain names are a thing you know
Hey at least then you own a domain name and all of its subdomains and can make them point whatever you want and host whatever you want out of them. When you buy an NFT you own one URL on an image hosting site, whose content you don’t even control.
You rent domain names. Stop paying the fee and you don’t get to use them anymore.
fair enough, but $12/yr for something I can do whatever I want with vs several grand once for an immutable monkey JPEG that i cannot do anything with except sell to someone else…
That’s more of an address book provided by DNS.
Nope! Not even that. Just an agreement between the scam arti- sorry, seller and the dumbfuc- sorry, buyer, that the rights to something have changed hands. Nothing more, nothing less.
NFTs are just USED for pictures. They actually had potential to solve real world problems, but jetzt isch d Katz de Bååm nuff as we say in hohenlohe.
NFTs
Note: this is how you spell it. Apostrophes are for possession & contraction …not making words plural.
That’s not true, clearly an apostrophe means: “watch out, here comes an s!”
What about for the Goa’uld?
Correction:
That’s not true, clearly an apo’strophe mean’s: “watch out, here come’s an 's!”
You forgot /'s
That’s not true. Apostrophes can be used to make acronyms plural, and there are cases where not doing so is clearly wrong (e.g. Oakland A’s)
No style guide says this. The only exception I have ever seen is single letters, and even that is up to interpretation.
Came here to say this. It’s a silly way to look at it, but these dorks are basically saying “no, using the ‘internet’ is not going to catch on silly techies.” It’s a kind of technology, not a vehicle specific to capitalism or big funds. NFTs could be proof of ownership over anything.
Consumers want true ownership, even if it requires a kind of tokenized-receipts system.
We’ve had gpg signatures for ages. No block chain needed.
Bold statement.
I would argue that just because something that could work doesn’t mean it is the best fit for the job for one reason or another.
We have multiple programming languages, database, filesystem, media formats etc…etc… Those also generally perform the same thing but some do certain things better and you pick whatever one best fits your needs.
why can block chain and go both existing and fit whatever role best fits them?
Not saying block chain / NFTs are the answer to ownership tracking just saying we shouldn’t write them off just because something else might work.
New technologies are great but sometimes you’re just reinventing the wheel by creating a more complicated and energy expensive wheel.
can these be held and traded in a verifiable way?
Yes. Old signatures can be included in a new signature.
To be fair most art is just pictures (using the term picture loosely). That’s not why the nft is dumb.
