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Challenging the NFT narrative

 
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Clifford
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PostPosted: Tue May 04, 2021 12:31 pm    Post subject: Challenging the NFT narrative Reply with quote

When you buy an NFT of a Jpeg, you aren't buying the jpeg or the rights to the jpeg. The jpeg isn't even stored on the blockchain, the blockchain just stores a link to the jpeg (like aws.imgur.com/nft.jpeg). If that website ever goes down, relocates to another URL, company goes bankrupt or deletes the file, you lose your NFT forever. 5 years from now when all the links start 404'ing most NFTs will start becoming worthless.

And because literally anyone can make an NFT, you run into intellectual property theft. People minting NFTs out of content that isn't theirs. I see so much of this already with scammers selling tokens of music and TV broadcasts that they have no right to sell and profit from. I can start minting Spongebob and Linkin Park NFTs right now and make tons of money and no one can stop me.



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Channel GannoK
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PostPosted: Wed May 05, 2021 9:44 am    Post subject: Reply with quote

Thats not how it works retard
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