News for hackers. Stuff that matters.
Re:Algorand – Fast, low fees and sustainable blockchain by herval on Saturday November 20, 2021 @10:21PM (#29293915)
You buy the right to sell that digital piece - others can copy as they please, but only the owner of the NFT can sell/transfer/destroy it (depending on the contract, of course). So it’s closer to a “deed” to a digital asset than a “watermark”. Digital art has always been copyable bit for bit, and that property will likely never change. You can’t compare it to a physical painting, and saying clonability invalidates something as art would also invalidate music, video, and any other fork of digital content.

You can’t “copy the list of owners” either, not sure where you got that from.

Re:Algorand – Fast, low fees and sustainable blockchain by smt88 on Sunday November 21, 2021 @12:56AM (#29294494)
> You buy the right to sell that digital piece - others can copy as they please, but only the owner of the NFT can sell/transfer/destroy it (depending on the contract, of course).

You can copy the digital piece and distribute it as much as you want. An NFT is just a record on a blockchain saying that [wallet address] is the current owner of [URL]. It has absolutely nothing to do with ownership.

The creator of an NFT can legally create a contract saying "whoever the blockchain says owns [URL] is the owner of [piece of art]," but that is a minority of cases and it also depends on the legal system. Ownership relying on a legal system is not new and it doesn't require NFTs.

> saying clonability invalidates something as art would also invalidate music, video, and any other fork of digital content

I didn't say clonability invalidates something as art. I said clonability invalidates NFTs as a meaningful form of ownership in and of themselves.

> You can’t “copy the list of owners” either, not sure where you got that from.

You can sell an NFT of the Mona Lisa. I can also sell it. That means there are two NFT ownership records for Mona Lisa.

In fact, there can be infinite ownership records. The only way to tell that a certain ownership chain is the original is by checking timestamps, but that doesn't tell you anything about whether the original seller of the NFT is also the owner of the work of art.

Re:Algorand – Fast, low fees and sustainable blockchain by herval on Sunday November 21, 2021 @01:15PM (#29298352)
> An NFT is just a record on a blockchain saying that [wallet address] is the current owner of [URL]. It has absolutely nothing to do with ownership.

That’s literally a _record of ownership_.

> You can sell an NFT of the Mona Lisa. I can also sell it. That means there are two NFT ownership records for Mona Lisa.

You don’t seem to grasp the concept of digital content. The Mona Lisa you sell as part of contract A is not the same you sell as part of contract B. Even if you’re selling two exactly identical jpegs, they’re different _digital objects_.

Very simple example: there’s many clones of the Bored Apes across many blockchains, including Ethereum itself. Only ONE of these contracts grants you access to their bar in Miami. That person is also the only one who can sell their Bored Ape for hundreds of thousands of dollars - nobody will pay that for the copies in other contracts, because _they’re not the original_. How is that not a proof of ownership?

Re:Algorand – Fast, low fees and sustainable blockchain by acjohnson55 on Sunday November 21, 2021 @10:38PM (#29302466)
Ownership of an NFT is, in general,, ownership of the token, no more, no less.

The creator of the artwork could legally assign rights to the tokenholder. But that would be a special case, and that is extra.

Anyone is free to give privileges to tokenholders of specific contract that they recognize as authentic, but that is not the same as ownership of the artwork.

Re:Algorand – Fast, low fees and sustainable blockchain by herval on Monday November 22, 2021 @12:53PM (#29309431)
Correct. Ownership is an ambiguous concept, when you “own” something, it comes with terms of what that “ownership” entails. An NFT is an entry in a ledger that says who owns that entry - it’s a _proof of ownership_, not _ownership itself_. Whether that includes copyright ownership of the artwork, right to modify or distribute, etc, it’s all contractual aspects that are external to the ledger/entry.

Smart Contract maximalists may argue it should all be code - and maybe we’ll see more and more becoming code, including TOS, DRM, etc. Maybe one day there’ll be a way to fully model and enforce ownership of a digital object, but I’m not holding my breath for that.

Re:Algorand – Fast, low fees and sustainable blockchain by soco on Monday November 22, 2021 @10:43AM (#29307568)
How do you decide which of the many proofs of ownership are The Proof Of Ownership? By asking the Bored Apes bar folks? How do you know if they're the right owners? What if I open a Bored Apes bar in Tampa and let people in only based on another copy?
Re:Algorand – Fast, low fees and sustainable blockchain by herval on Monday November 22, 2021 @12:45PM (#29309307)
The same way you verify if a deed is authentic: asking an appointed “Oracle”. In this case, sites like OpenSea act as verifiers. Who tells you the Louis Vuitton bag you’re buying is authentic? Do you ask the shopkeeper? How do you know they’re not selling you a copy?

If you opened a bar in Tampa and called it the same as someone else named theirs, and stole their branding, you’d be exposed to the same copyright laws one would in Florida, with or without NFTs involved. That’s a completely orthogonal issue, NFTs aren’t a mechanism for copyright enforcement, they’re just a ledger that’s easier to verify because it’s public and distributed.

Re:Algorand – Fast, low fees and sustainable blockchain by soco on Monday November 22, 2021 @01:27PM (#29309887)
I don't think OpenSea can vouch anything for things outside their ledger, and even in there they can only check the timestamps, which cannot tell anything about proof of real-life ownership (where those copyright laws work). So the ledger can vouch for my timestamp in this ledger as long everybody trusts only this ledger and not this other ledger. So while I agree NFTs are not meant to enforce copyright, I think also they don't go much in the direction of proving it either as long you still need some real-world oracle like the artist themselves or such. You can just check the artist website at this point, it can be more trustworthy than a timestamp in a ledger and just as open.
Re:Algorand – Fast, low fees and sustainable blockchain by herval on Monday November 22, 2021 @04:38PM (#29311854)
OpenSea verifies ownership off-chain, they "verify" projects, prevent fake Bored Apes from proliferating, etc. Same sort of "proof" you'd expect on any digital property, from Twitter's identity verification to Spotify's. You're overcycling on something about "timestamps in a ledger" that's not really relevant to what we're talking here.

> You can just check the artist website at this point, it can be more trustworthy than a timestamp in a ledger and just as open.

How do you know the artist's website you're visiting is the actual artist? How do you decide which of the many sites is The Real One? By asking the artist? How do you know if they're the right owners? What if I open a site and claim I'm the artist, and sell a copy of their content?

Re:Algorand – Fast, low fees and sustainable blockchain by soco on Tuesday November 23, 2021 @04:35AM (#29316083)
So NFTs are something which makes sense only because of the rules which are not intrinsic - off-chain verification, off-chain trust, off-chain property laws... thank you for taking your time to explain to me. (ps: I'm not ironic)
Re:Algorand – Fast, low fees and sustainable blockchain by strogonoff on Sunday November 21, 2021 @08:30AM (#29296106)
This reminds me of the case with Simon Stålenhag—when he got hassled by token enthusiasts trying to convince him to join (to lend their space such direly needed credibility), and later found somebody else selling his art as on some NFT marketplace.
Re:Algorand – Fast, low fees and sustainable blockchain by kranke155 on Sunday November 21, 2021 @09:31AM (#29296406)
Direly needed credibility ? Not sure when what you’re describing happened. NFTs are in every major art auction house, major world art exhibit (Venice, Basel, etc)

In the art world NFTs are now ubiquitous.

Re:Algorand – Fast, low fees and sustainable blockchain by strogonoff on Sunday November 21, 2021 @10:41AM (#29296970)
Well, the reality is that token promoters came to Simon, not Simon to token promoters, so…

By the way, care to support with any links at all? So far these are empty words. Googling Venice NFT does not point to some reputable gallery adopting tokens, just a post from some cryptocurrency promoting media outlet about some token promoters who set up their own gallery on a beach.

Re:Algorand – Fast, low fees and sustainable blockchain by kranke155 on Sunday November 21, 2021 @11:06AM (#29297209)
https://fadmagazine.com/2021/11/18/nft-now-x-christies-prese...

https://www.theartnewspaper.com/2021/11/09/tezos-brings-arti...

My bad for thinking NFTs were in Venice officially.

Here’s a good overview of what’s happening even though it’s an article critizing Frieze London - https://www.google.com/amp/s/decrypt.co/84466/london-nft-sce...

There was of course the huge gathering in NYC a short time ago. https://www.google.com/amp/s/www.nytimes.com/2021/11/05/tech...

Christie’s, Sotheby’s are selling NFTs. The art fairs are adopting. Visa has purchased a major NFT for their art collection (Cryptopunk). Multiple major brands and celebrities are minting and joining NFT platforms ie Pharell in Music. As far as artists go I’m finding that most have heard of NFTs and many are adopting.

Re:Algorand – Fast, low fees and sustainable blockchain by acjohnson55 on Sunday November 21, 2021 @10:48PM (#29302509)
I used to work in the art auction world. Christie's and Sotheby's will sell anything that there is a market for, especially if it burnishes their brand and relevance.
Re:Algorand – Fast, low fees and sustainable blockchain by strogonoff on Sunday November 21, 2021 @11:32AM (#29297479)
So why are you personally spending so much energy on here trying to convince everyone NFTs are worthwhile, if you believe it is established reality?
Re:Algorand – Fast, low fees and sustainable blockchain by kranke155 on Sunday November 21, 2021 @11:47AM (#29297641)
I broke my foot. I have a lot of free time right now! Spending a lot of it online.

But partially I hope that some people here see the problems not as "this is never going to work" and more as "hey this seems like an interesting challenge to solve". The space needs developers, so if I convince one person a week to take a look at it, that's a big win. If it doesn't happen, well my foot is still broken.