The guy who invented NFTs has gone on record saying he did it as a way to combat digital art theft and gives artists a way to prove ownership of their work, yet sadly NFTs have become a common way of committing art theft. What lesson can we take away from this?

The guy who invented NFTs has gone on record saying he did it as a way to combat digital art theft and gives artists a way to prove ownership of their work, yet sadly NFTs have become a common way of committing art theft. What lesson can we take away from this?

What do you think?

12 Points
Upvote Downvote

22 Comments

Leave a Reply
  1. The potential for a grift will always outweigh the potential for a positive change.

    But also, NFTs as a system are still a fucking useless way to prove genuin ownership of artwork- even if you are the original artist. They became a market of con artists BECAUSE you’d have to be dumb enough to fall for a con to think they were a good idea in the first place. You own a link to a URL. That’s it. It’s literally less than crypto because at least crypto is the very dumb thing it claims to be.

  2. The good thing about NFTs is that the original artwork and the original creator’s collection are both uniquely registered on the blockchain. Even if someone tried to clone the original artwork as their own, the counterfeits will be registered uniquely different from the originals on the blockchain. This system of serialization makes it easy to distinguish between the two types of works, which makes it harder to pass off the counterfeits as originals.

    Despite the probability of encountering a counterfeit NFT, the best way to avoid possessing one, is to only purchase an original NFT from the original creator’s collection.

Leave a Reply