Comment by Illniyar
4 years ago
Donations, swags and limited editions existed before NFTs, they did not suddenly get studios to create content under the public domain.
NFTs are not a new economic model. I'm not sure what they are, but they definitely don't solve this.
I have no opinion for/against NFTs for various use cases, but I will say this:
If you don't understand what something is ("I'm not sure what they are"), then I don't think you can go around telling people what they do/don't solve ("they definitely don't solve this").
We'd be better off sharing opinions about things we do have knowledge about, rather than guessing. And if we do guess, make it clear it's just a guess.
It's a turn of phrase.
I know how NFTs work, I know how people use them, I don't think it's useful for the things people use it for and I don't know what it might be useful for, though I don't reject the idea it might be useful for something.
There's a lot of things we don't understand and have useful opinions on.
I have unknown pieces of electronics I have no idea what they do, but can be sure it won't be part of my diner.
I also don't know much about NFTs but fully assume they don't solve font subpixel smoothing.
Ironically, if you yourself knew more about the domain, you would realize the person you’re responding to is correct.
NFT is not a donation or swag. It may be closer to a stock option or share in an organization or idea.
None of this is likely to sway massive Hollywood studios. But it may present a new economic model for some independent creators to get paid directly by consumers and fans to produce and distribute work - musicians, artists, filmmakers. See Camp Chaos example. Another example: the filmmakers behind sci-fi film Prospect (2018 - budget of $4M) are now exploring NFT and web3 models for their next production, we will see how successful it is when or if it is finished in a couple years.
> It may be closer to a stock option or share in an organization or idea.
It has nothing in common with either of those. It is am ownable token with some data, usually a URL, attached
It it doesn't give you any sort of ownership of the underlying work unless actual legal contracts, licenses, etc, exist to grant those rights to the holder. It absolutely is nothing at all like owning a stock option, share or idea.
So a NTF would not have allowed you to do anything here. Sony would still be required to remove movies from the URLs your NTFs point to and you would be the proud owner of worthless NFTs.
The needed change is legal, not technical. We need laws that protect consumers.