Results 1 to 2 of 2

Thread: Non-Fungible Tokens (NFT) DRM for owning the original

  1. Top | #1
    Veteran Member excreationist's Avatar
    Join Date
    Aug 2000
    Location
    Australia
    Posts
    1,206
    Archived
    4,886
    Total Posts
    6,092
    Rep Power
    78

    Non-Fungible Tokens (NFT) DRM for owning the original

    https://www.forbes.com/advisor/inves...ungible-token/
    NFT allows the buyer to own the original [usually digital] item. Not only that, it contains built-in authentication, which serves as proof of ownership. Collectors value those “digital bragging rights” almost more than the item itself.

    It includes:

    Art
    GIFs
    Videos and sports highlights
    Collectibles
    Virtual avatars and video game skins
    Designer sneakers
    Music

    This talks about NFTs that are worth about $1 million or more....


  2. Top | #2
    Contributor
    Join Date
    Apr 2002
    Location
    Finland
    Posts
    5,151
    Archived
    6,261
    Total Posts
    11,412
    Rep Power
    77
    I think it's a fad, but this type of digital authentication is one of the very few actual use cases for block chains / cryptocurrencies. Not for bragging rights for owning ridiculously priced art pieces, but to verify that the person or entity who claims to have created something actually did so, and at a time that he claims it was created. In the age of arbitrarily realistic deep fakes there may be actual use for this sort of thing.

    Imagine a court case where a politician accuses a journalist for faking a video or audio of him saying something stupid. With regular media files the politician's lawyers can always argue that there was tampering, or that the file wasn't created at a time when it was claimed to be created, or that the metadata was corrupted, and so on, especially if the journalist didn't publish the information until much later. With proof of authentication on the blockchain you could very easily and cheaply register the authenticity of the file without actually publishing it (by posting the hash only). This could be done even automatically for every recording that a person makes, just in case.

    But yeah, for art this is bullshit. If you can afford to pay 5 million for an art piece, you can afford a lawyer to write a document that proves you are the owner, and you can afford to keep that document in a safety deposit box in a swiss bank or wherever.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •