|
|
|
|
|
|
by obstacle1
1634 days ago
|
|
|
Re: your last example. Where is the incentive for a company to actually bother reaching into the ledger to determine who holds royalty rights? The underlying media pointed to by the NFT is not restricted, it's infinitely reproducible and thus valueless. Why not just right-click save-as and display the media, bypassing the metadata encoded in the NFT? It seems like there'd have to be some person or collection of persons who are responsible for enforcing that the company treat the terms of the NFT as a binding agreement. Using force, if necessary, either legal or physical. Something almost like... a legal system associated with a state. Which would be centralized. Which would beg the question, what's the value of the decentralized ledger in that case? |
|
|
It is protected by copyright or other IP law, and not valueless.
I would say that the incentive is that they can access a market of digital products without fear of being sued by the rights-owner. The value of the NFT approach is that it can all be codified and automated so that a) as a creator I can get paid for my content without having to negotiate contracts with every distribution channel b) distribution channels get access to every piece of content.
Not saying that NFT's will work in the end, but that's my understanding of it.
In simple terms, though, it's just codifying the license terms, so that at least has some value as digital media grows and content creation becomes decentralized.