> This is incorrect, as the parent explained the point of an NFT is the signature, this proves you bought from a certain collection that was created by a certain wallet
Note that the parent seems to be arguing something in the system removes the need to trust in the artist, that it stops the artist from creating more items than they promised. But how? Nothing stops the artist from creating a second wallet, or a second collection.
> NFTs don’t replace the legal system, they simply remove the need for the artist to be trusted by a third party (an art gallery, etc) before they can authenticate their own work to a buyer.
I don't see how. How do I know that a given wallet ID is connected to the right person? OpenSea or whoever just takes the place of the gallery, and is effectively in charge of answering takedown requests.
It doesn’t stop the artist from re minting the same art, but if he does it will be associated to his wallet, his reputation will be tarnished, an they won’t be able to keep selling their art. The incentives are hugely against it, and unlike even physical art (who stops me from painting the same piece 20 times in secret) the ledger for the existence of the NFT is public.
Note that the parent seems to be arguing something in the system removes the need to trust in the artist, that it stops the artist from creating more items than they promised. But how? Nothing stops the artist from creating a second wallet, or a second collection.
> NFTs don’t replace the legal system, they simply remove the need for the artist to be trusted by a third party (an art gallery, etc) before they can authenticate their own work to a buyer.
I don't see how. How do I know that a given wallet ID is connected to the right person? OpenSea or whoever just takes the place of the gallery, and is effectively in charge of answering takedown requests.