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So, looking at NFT's from an intellectual property law perspective, one could argue that NFT's are a way to prove ownership of intellectual property over an artwork. For example, let's say you're a digital artist selling smut commissions online. Under a lot of legal systems, the artist keeps the intellectual property rights (eg they can stop unauthorized third parties from altering the image, profiting off of it, resharing it etC. without their permission) but you can legally "sell" the intellectual property rights (for example, the person commissioning the art piece) so they can use it for whatever they feel like (eg, using it on their company website, for advertising, etc.) One of the issues in litigation is the burden of proof: it's not too problematic in fight between parties A and B themselves (the purchaser can point to the contract by which they bought the IP) but things get messier when, for example, the original artist (or an agent claiming to represent them) tries to get a third party (eg a hosting website) to remove content that was allegedly uploaded without permission. The third party has no real way of knowing who sold their IP to whom. My understanding is that NFT's could be used as a public registry to prove that ownership has been transferred from party A to party B, so that when party B goes to court they can point at an NFT (similar to how you can go to a notary and prove, on the basis of a public registry, that you own a piece of real estate or a security on some assets or whatever) However my understanding is also that, in practice, the NFTs you can buy online are not actually sold alongside the intellectual property rights, so the artist keeps the rights to do as they please with the image? I feel like theoretically NFTs linked to images could be used in an interesting way (increase legal certainty in fringe cases which might be useful like with copyright litigation and proving who is owner of an image) but techbros aren't actually doing that? Deltasquid fucked around with this message at 11:40 on Dec 20, 2021 |
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Dec 20, 2021 11:37
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Ghostlight posted:you've described a sales contract, except now it costs sixteen windfarms because jingle jangle. I mean obviously, but I'm thinknig more along the lines of notarial deeds or registrations of pledges to make them enforceable vis-a-vis third parties. It would probably require some sort of public registry though (or, alternatively, if we wanted to have this, some government would already have created a public registry that doesn't require NFTs to function) but organised privately (I'm not American but I understand American real estate conveyance is not registered with a public notary but by private companies?)
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Dec 20, 2021 12:46
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Dark_Swordmaster posted:The notion of keeping records on the blockchain has repeatedly been pointed out as one of the worst ideas imaginable. - Breaches of IP law (love 2 copy-paste entire books on the blockchain) - revenge porn - literally any kind of national security information put there by spiteful ex-NSA employees
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Jan 28, 2022 20:02
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Ariong posted:https://www.pcgamer.com/f1-delta-time-one-of-the-first-major-nft-games-has-shut-down/ https://kotaku.com/f1-formula-1-one-delta-time-nft-crypto-cursed-shut-down-1848748953 Kotaku posted:With owners Animoca unable to renew the F1 license, however, it is now also a test case for what happens when a licensed NFT game dies. All that money splashed out on cars and other items—some players would later spend almost $300,000 on a single transaction—is now ostensibly worthless. Sure, the tokens themselves live on, but without the game they were bought for there’s no actual value there. 
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Apr 5, 2022 20:08
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Dark_Swordmaster posted:Turns out when games as a service hit end of life so do the NFT's. In two days we get two articles showing this. "You own a piece of the game" ? So we've gone full circle from games as a product to games as a service to making people pay extra to own a little bit of product? There's literally nothing new here. I remember when you bought a CD and you'd have to insert a CD key while installing the game. Those CDs were less fungible than whatever the hell they're "innovating" now
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Apr 6, 2022 17:16
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