Re:Yes, Crypto Is All a Scam
by ynniv on Tuesday February 07, 2023 @11:09AM
(#34694561)
I’m not aware of any legal protections available to the person holding the private key that last signed an NFT. Digital property rights are enforced by client apps / DRM as well as legal trade agreements, but legal enforcement will be based on traditional registrations and won’t cover on-chain NFT transactions. You can buy my house’s NFT, but I will still legally own my house. Since, as you point out, DRM can always be broken, there is effectively no enforcement of NFT property rights at all.
[ Parent
| on HN ]
Re:Yes, Crypto Is All a Scam
by ravingraven on Wednesday February 08, 2023 @03:12PM
(#34714217)
Please refer back to my original comment about people hearing NFTs and for some reason which I fail to understand jump to "physical property". NFTs do not work for physical property but they do for digital.
Enforcement of digital rights is actually easier via NFTs than contracts/client apps etc. because NFTs mathematically can prove ownership (courts just have not caught up yet).