Comment by whatisweb3
4 years ago
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.