[px43]

> OpenSea turning off their reporting mechanism

What, this?

https://support.opensea.io/hc/en-us/articles/4412092785043-W...

Art gets stolen from Deviant Art etc every day, as it has been for decades. The NFT ecosystem makes it super easy for people to look at listed art and ensure that the proper artist is getting paid. If they fail to do their due diligence, then the NFT they paid for is worthless. The system seems to be working just fine.

NFTs don't prevent theft of IP, nothing does. What it does do is prevent people from effectively profiting off IP theft.

[krisoft]

> What it does do is prevent people from effectively profiting off IP theft.

How so? Let's say you made an NFT of your art, how does that prevent someone else printing it on a t-shirt and selling it?

[TomSwirly]

> What it does do is prevent people from effectively profiting off IP theft.

Totally wrong. Utterly wrong.

Suppose Alice has an NFT of an image, whereas Bob has legal ownership of that image.

Charlie makes a series of T-shirts with the image. Bob can sue Charlie and win. Alice has no rights, not even legal standing to sue.

NFTs have zero legal value.

[dmitriid]

> The NFT ecosystem makes it super easy for people to look at listed art and ensure that the proper artist is getting paid.

How so? Walk us through the steps that ensure the proper artist is getting paid

> If they fail to do their due diligence, then the NFT they paid for is worthless

So:

- the person who paid for stolen art was scammed out of their money

- the original artists weren't paid

- the scammer got the money

I see, NFT is working as intended

> What it does do is prevent people from effectively profiting off IP theft.

How come people are profiting off IP theft on NFTs right now?