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by BTCOG
1672 days ago
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Chrisco255 - This is precisely the rub of the scam. You bought it, hook, line, and sinker. But this is 100% incorrect. An NFT owner does not own the artwork. You are just scammed into thinking you bought a free and downloadable to all JPEG image. |
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An NFT is a basic, fundamental piece of technology that represents unique digital tokens (token A is distinct from and not exchangeable with token B, unlike money and stocks and most tokens before them that are interchangeable with others of the same kind), usually on a public blockchain (though that’s not technically required).
If the artist signs a contract assigning all rights to the artwork to whoever holds the NFT they minted (and some do), sure they own the artwork!
If a domain name system is programmed to let whoever owns an NFT device where it points to, then the NFT holder owns that domain as much as you own any domain you purchase in the traditional way (especially if that system itself is verifiably immutable).
On the other hand if all the NFT signals is that you bought a limited edition token linked to a piece of art from its creator and that you donated a lot of money to a certain charity, some people want to be known for that kind of thing and see value there too, that’s ok!
And yes, if you buy something with no rights, perhaps not even from the creator of the art because you didn’t check, because you think it might go up in value… maybe you got scammed.
Technology helps people do more, and that includes scammers. The presence of scammers is irrelevant and unrelated to the presence and possibility of interesting, useful, or fun use cases. The fact you don’t find them interesting, useful, or fun doesn’t make the technology itself a scam or everyone involved a scammer, it just means your preferences lie elsewhere.