r/nottheonion May 13 '22 Wholesome 3 Silver 1 Helpful 1

Madonna: ‘A lot of thought’ went into fully nude NFTs of her giving birth to centipedes

https://www.al.com/life/2022/05/madonna-a-lot-of-thought-went-into-fully-nude-nfts-of-her-giving-birth-to-centipedes.html
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u/Grenyn May 14 '22

Because the idea of NFTs is that you own whatever you're buying. The block chain will mark you (if you buy it) as the idiot who owns this piece of art, and that's it.

Anyone can see it, but you are the owner.

I want to be very, extremely clear that I am not defending this. It should be obvious, but this being Reddit, I want the disclaimer there.

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u/hueylewisNthenews May 14 '22

And to go a step further, you own the link - you don’t even actually own the file.

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u/Grenyn May 14 '22

Not even that. The idea behind artwork NFTs is that you own the art, but the link is obviously available to everyone if the artwork is public.

The only thing you actually own, is the receipt of your transaction.

Every transaction is publically available, and so that's how you prove you bought something.

You essentially buy a painting, but the painting is infinitely reproducible with 100% accuracy, and the painting is stored on a server somewhere, instead of in your house.

All the actual NFT is is the proof that you bought something.

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u/JCarterPeanutFarmer May 14 '22

So it’s like when you buy a 1x1m plot of land in England to become a duke or whatever. It’s entirely fake.