Original editor: CryptoMonster
"NFT, as a non-homogeneous token different from Bitcoin and Ethereum, has unique characteristics that create digital asset confirmation and provide new solutions for copyright and ownership protection in the fields of music, film and television, and art. This will be a new revolution."
01. The pros and cons of NFT
NFT symbolizes a phased change in network property rights and is the key to the next stage of the Internet. However, at present, there has been a huge divide between NFT supporters and critics.
For NFT supporters, NFT is about freedom. It is a ticket to the bright future of Web3. In the Web3 era, creators and users can liberate themselves from the Internet platform.
For NFT critics, NFT represents extreme greed, fraudulent purpose, and wanton disregard for the environment.
However, both of the above views are biased.
NFT supporters are too optimistic about NFT. Only when the core purpose of Web 3 is realized, can social progress and the development of human society be promoted. If the core purpose of Web3 is not realized, what NFT realizes is only a system that contributes high profits to a few early opportunists.
And NFT critics' views on new technologies are static rather than dynamic. They believe that attacks on cryptocurrencies due to technical flaws, as well as Ethereum’s high transaction costs and limited scalability, are reflections of the current industry development, and this will also be a permanent trend. They argue that industry developers are shying away from these issues. This view exposes their ignorance of innovation in open source systems.
My personal opinion is this: NFT is an important part of the new creator-centric digital economy, in which our data is no longer accessible to Internet platforms, artists, musicians, photographers, journalists and publishers Businesses can directly connect with their audience. This forms the basis of a new economic system.
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02. NFT as a digital asset
In order to understand the role of NFT in the field of digital property, it is necessary to understand the past and present of property rights. First of all, current digital objects So far, we have not been able to define unique digital objects, we cannot label something as digital property, and we cannot treat things in the virtual world as independent objects that individuals can own and control” assets".
In the digital age, we will continue to embrace the concept of intellectual property, such as copyright. But intellectual property itself is not digital property. In the real field, intellectual property rights are relatively easy to enforce, and copyright is realized by means of some entities such as books or LP records, which are not easy to copy or infringe.
In the digital realm, the massive copying and sharing of PDFs, MPEGs, and JPEGs makes the concept of copyright not easy to implement on the web. That's why, in the early days of the Internet, the legal industry abandoned attempts to apply the "first sale principle" to digital files. The first sale doctrine allows for resale (such as used books), but not for the unlicensed sale of copyrighted ideas within it.
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03. What does NFT achieve?
To reiterate: NFT holders do not automatically hold property rights. The domination of NFT is very different from the artistic rights it points to. But the industry is working on solutions to prove that specific NFTs can be used to claim legal rights. If the model works, it will help NFT realize the right of digital assets and become an important cornerstone of the new digital property rights system.
These solutions have arisen from the growing need for companies to have a legally enforceable system for establishing and exercising NFT-related rights.
Likewise, there is no guarantee that the development of NFTs will be in the interest of the general public. That outcome depends on who is designing and advancing the system.
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