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Posts: 151

SITWAP: NFT explained. -- (link)

Posted by Shaun (aka bigshaunu) Apr 29 '21, 07:01

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https://twitter.com/end_spire/status/1387428545077596164 (twitter.com)

Responses:

Jokes aside, I've been trying to distill the answer of "What is an NFT?" for a while, and isn't it just the copyright to a digital item? - Mop Apr 29, 07:28 16
- But it's not? It's the right to a bunch of ones and zeroes that perhaps are associated with something. - JD Apr 29, 08:15
- You don’t necessarily have copyright or distribution/reproduction rights. Plus blockchain! -- nm - mafic Apr 29, 07:38
- I don't think that's it (in a broader sense), though I could be wrong. I don't think the purchaser gains access to any revenues from the use of the - pmb Apr 29, 07:37 3
  - I also believe this to be correct, unless otherwise specifically expressed in the sale. -- nm - JaxSean Apr 29, 08:17
  - Well, if that's the case, that's extra stupid. So "Disaster Girl" still holds the right to revenue from her famous photograph? -- nm - Mop Apr 29, 07:52 1
    - As far as I know (not that I think she actually sees revenue from people using it in a meme). -- nm - pmb Apr 29, 07:58
- I mean, yes and no. But with digital, what's the point? - JaxSean Apr 29, 07:34 9
  - Movies and music... even photographs... what's the "physical" medium here? A thumb drive? A CF card? -- nm - Mop Apr 29, 07:51 8
    - “Physical medium”, lol. -- nm - znufrii Apr 29, 08:06 7
      - That's my point. Jax is trying to juxtaposition an NFT vs. a digital movie, song, or photograph. But how are they different? -- nm - Mop Apr 29, 08:08 6
        
        No, I'm saying a physical medium is different. Owning "the original" digital medium is, essentially, worthless. - JaxSean Apr 29, 08:15 5
        
        But by this reasoning, a photographer whose entire photo library is digital doesn't actually own anything at all. -- nm - Mop Apr 29, 08:19 4
        
        They own the rights to their images. Unfortunately there is no ironclad way of enforcing them once they are shared. -- nm - znufrii Apr 29, 08:35 3
        
        This. Imagine going to Disney and claiming that they don't own the latest Marvel movie cause it doesn't physically exist -- (edited) - JD Apr 29, 08:37 2
        
        Meanwhile NFTs strike me as nothing more than the right to comment “First!” on the ‘original’*. -- (edited) - znufrii Apr 29, 08:43 1
        
        I'm pretty sure that this is exactly it. Whether the buyer's completely understand this is another question -- nm - JD Apr 29, 08:49
Accurate -- nm - JaxSean Apr 29, 07:27
Spot on. -- nm - pmb Apr 29, 07:27

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