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Joined 1 year ago
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Cake day: July 9th, 2023

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  • NFTs are essentially a decentralized >token. This means that they can be >used to represent anything you might >want to represent with a token, e.g. >ownership of a physical object such as a car or a house; ownership of a digital >asset, such as a website or game

    No.

    NFTs are not proof of ownership. At best they are the equivalent to receipts, at worse they are mere url links. They are certainly not title deeds, not proof of copyright ownership or anything of that sort. They are just a ledger that person D paid something to person C who paid something to person B who paid something to person A.

    Lets use those NFT monkeys as an example. There is literally no proof anywhere on that NFT chain that person A is the rightful copyright owner or has the rights to sell said image. Furthermore, there is no proof that person A gave the rights to person B to resell said image. Or that anyone down the chain sold the complete rights instead of just selling the link to access monkey.jpg








  • Have fun with that but please be careful with them. Lithium battery fires are no joke. I would suggest a secure steel lock box to store away when not in use. Or keep it out of the house.

    Lithium fires are fast, aggressive and impossible to properly extinguish. Once started they are self propagating and can only be doused until it’s essentially exhausted.