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A comment on NFT's aren't the answer to the problems of digital art. Parent comment

Re:NFT's aren't the answer to the problems of digital art by auggierose on Tuesday November 09, 2021 @07:04AM (#29160527)
How do you exchange something that neither of you own? Beyond bragging rights, you will need some way to establish legal ownership of something because you own the corresponding NFT. So why not sell that ownership directly without the level of indirection that is the NFT? I guess the reason is that you have decoupled ownership and the ability to sell that ownership, making it easier to speculate independently of legal domains like countries.

Really, it's just adding a level of indirection, as always :-)

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Re:NFT's aren't the answer to the problems of digital art by Zababa on Tuesday November 09, 2021 @07:18AM (#29160693)
> I guess the reason is that you have decoupled ownership and the ability to sell that ownership, making it easier to speculate independent of legal domains like countries.

> Really, it's just adding a level of indirection, as always :-)

Yeah, that's basically how I see NFTs currently.

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Re:NFT's aren't the answer to the problems of digital art by superbaconman on Tuesday November 09, 2021 @07:32AM (#29160856)
If Nvidia provided an nft for every graphics card they sold, and every online marketplace like ebay required that you provide that nft to resell the card, then that truck of stolen graphics cards becomes much harder to move.
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Re:NFT's aren't the answer to the problems of digital art by nameless912 on Tuesday November 09, 2021 @07:43AM (#29160973)
I can't tell if you're being facetious, but Jesus what a terrible idea. What if you lose your private key and lose access to the NFT? Can you not use the graphics card? Or can you not sell it? What if NVidia goes out of business someday in the future and the card gets bricked because they stop maintaining the chain that held all the NFT's of the graphics cards?
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Re:NFT's aren't the answer to the problems of digital art by esrauch on Tuesday November 09, 2021 @08:11AM (#29161250)
Peesumably if Nvidia went out of business then eBay would just stop enforcing having it.

But otherwise there's no advantage compared to a traditional database that I can see...

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Re:NFT's aren't the answer to the problems of digital art by kibwen on Tuesday November 09, 2021 @07:45AM (#29160997)
Sure, but you don't need a Blockchain for that. An ordinary database solves the problem more easily and less wastefully.
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Re:NFT's aren't the answer to the problems of digital art by mlinsey on Tuesday November 09, 2021 @08:36AM (#29161511)
Ahh, in that case, the problem this solves is the database owner has admin power, and could take away your graphics card.

This is similar to how I was always worried that Bank of America would arbitrarily change the balance in my account for some reason, but bitcoin solves this problem. Now I just have to worry about losing my password or getting hacked and losing all of my money, and that's just much less realistic than a major bank abusing their centralized admin powers to change my balance.

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Re:NFT's aren't the answer to the problems of digital art by Calavar on Tuesday November 09, 2021 @08:49AM (#29161654)
There is so much Poe's law content in this thread - not sure if you're being facetious or not. But I'll bite.

If Bank of America deducts money from your account, you can call customer support and threaten to file a complaint with a regulatory agency, threaten to close your account, or just take them to court. No guarantees that you'll get your money back, but at least there's a chance.

If you lose your wallet password. It's game over. 0% chance of ever recovering any of that money.

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Re:NFT's aren't the answer to the problems of digital art by jimmydorry on Tuesday November 09, 2021 @09:06AM (#29161873)
Do you see the difference though? One is something you can control, and the other is something you rely on other parties mot to do or to later fix.
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Re:NFT's aren't the answer to the problems of digital art by notamy on Tuesday November 09, 2021 @11:39AM (#29163935)
I would imagine that a majority of the world is fine with giving up a little control to have a chance of getting their money back.
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Re:NFT's aren't the answer to the problems of digital art by friendzis on Tuesday November 09, 2021 @08:02AM (#29161162)
How does the online marketplace enforce that identifier in the provided NFT corresponds to hardware id of the card?

How do you prove that said NFT is issued by OEM?

How do you avoid NFTs being issued by the seller themselves?

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Re:NFT's aren't the answer to the problems of digital art by ori_b on Tuesday November 09, 2021 @07:45AM (#29160991)
So, like serial numbers, but more fragile?
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Re:NFT's aren't the answer to the problems of digital art by aurelianito on Tuesday November 09, 2021 @07:54AM (#29161080)
The difference is that nVidia would not be able to remove your NFT from its db of serial numbers, because the association between the number and you, instead of being in a DB it is in the blockchain itself, and the only one that can change that association is the holder of the NFT.
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Re:NFT's aren't the answer to the problems of digital art by chaosite on Tuesday November 09, 2021 @08:14AM (#29161281)
So in this scenario would the NFT be burned onto the card's ROM, and basically serve as a serial number you can trade without the participation of the manufacturer?

That's still rather convoluted.

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Re:NFT's aren't the answer to the problems of digital art by mch82 on Tuesday November 09, 2021 @09:10AM (#29161919)
How does this prevent Nvidia from switching to a new blockchain, migrating the transaction data, and deprecating the old one?
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Re:NFT's aren't the answer to the problems of digital art by delecti on Tuesday November 09, 2021 @08:48AM (#29161643)
Until someone made a counterfeit, sold that (with the NFT) and kept the original. They can simultaneously "prove" they've sold the original and also reap the benefits of having the graphics card.

The same thing applies to other similar "NFT as certificate of authenticity" schemes I've seen, such as around luxury goods.

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Re:NFT's aren't the answer to the problems of digital art by acjohnson55 on Tuesday November 09, 2021 @07:57AM (#29161107)
Why would this be better than physical possession and proof of purchase?
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Re:NFT's aren't the answer to the problems of digital art by nuerow on Tuesday November 09, 2021 @07:47AM (#29161020)
> (...) then that truck of stolen graphics cards becomes much harder to move.

That sounds like a convoluted and impractical solution looking for a problem. Mobile service companies and hardware vendors managed to implement services that support activation and bricking without getting any crypto-related buzzword in the way.

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Re:NFT's aren't the answer to the problems of digital art by politician on Tuesday November 09, 2021 @08:31AM (#29161448)
> How do you exchange something that neither of you own?

This seems to be no problem in finance — who owns what in a contract-for-difference?

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Re:NFT's aren't the answer to the problems of digital art by theshadowknows on Tuesday November 09, 2021 @07:43AM (#29160964)
You cant own property, man! :D
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