So I was wondering, if someone would want to buy a twitter post of mine as a NFT, would I loose the right to that post? What would happen if I deleted it, would it be considered theft or is it just „bad luck“ for the buyer?
Does one purchase the actual thing with rights and everything, or are they just purchasing the „right to the history“ of said thing?
With materialistic stuff it’s easy, as a purchase most often goes hand in hand with actually owning that thing. But with virtual collectibles it’s getting far more complex. Any legal expert here who can share their opinion?
NFT Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
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It depends on the rights given by a creator. Some projects may grant you unlimited rights so you can make physical representations of your NFT and make revenue from it.
It’s like music, you may own a copy via CD, digital download or even sheet but you’ll need explicit rights to make money off of it and sometimes to even play it in public.
Not unless you sell your copy of the CD to someone, you have the rights to do that. But some NFTs have royalties on them that the author benefits from the exchange.
Their is no legal claim, you own a hash number on a public chain. That’s it, how it’s interpreted and used in other contexts can make for interesting uses but there’s no claim
I think they still have to flesh this out. Technically it turns your tweet into a file that is then hosted on AWS or IPFS (hopefully), but if these servers disappear so does your NFT, as I understand it. But that way if you deleted said tweet they’d still have the NFT version of it on these other servers separate from Twitter. Until we figure out how to have NFTs on-chain, like cryptopunks are now.
NFT represents right, as the value of it is not in the digital price but in the token
A NFT is pretty much whatever you say it is, since it is just a contract. It could be 100% copyright ownership or just a copy of something, like buying a print of a painting, with no rights at all – up to you. Do you own your tweet though? This is the question. I haven’t read the legal terms for Twitter, but it seems like they have control of all of the content people post.
The answer to this is variable. It would depend on how the specific NFT is set up. In essence an NFT is just a blockchain register of a specific file. That file could be an image, code, a program, a deed, or any number of things that can be set up as a computer file. From there it’s up to how platforms interact with the NFT’s to determine use cases.
You could even have a digital NFT that’s convertable to a physical item if the proper system was in place for it. You could have an NFT transfership of deed titles, car titles, etc as well if you wanted.
In your example, it would depend on who was minting the NFT and the platform being minted on. I could take screenshot of your twitter post and mint it to an NFT, but it wouldn’t mean that you’d lose anything on your side, I would just have proof of ‘owning’ that screenshot.
One thing to note is that with Twitter’s current system, you still don’t own the rights to the post, Twitter does. They can do with it what they’d like for the most part. If Twitter decided to delegate ‘ownership’ of accounts or posts into an NFT format, then sure you could potentially ‘lose’ ownership if you transfer the NFT to someone else.
There’s not really just ‘one’ way to utilize NFT’s in systems, so their use cases are variable.
You own a file on the blockchain which could be a jpeg/screenshot of the tweet. But not the actual tweet itself. Maybe in the future nft’s will be included in some countries law. But then it would depend on the country, cause making an international law about nft’s is almost impossible.
There needs to be actual laws in place for that.
NFT Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
It depends on the rights given by a creator. Some projects may grant you unlimited rights so you can make physical representations of your NFT and make revenue from it.
It’s like music, you may own a copy via CD, digital download or even sheet but you’ll need explicit rights to make money off of it and sometimes to even play it in public.
Not unless you sell your copy of the CD to someone, you have the rights to do that. But some NFTs have royalties on them that the author benefits from the exchange.
Their is no legal claim, you own a hash number on a public chain. That’s it, how it’s interpreted and used in other contexts can make for interesting uses but there’s no claim
I think they still have to flesh this out. Technically it turns your tweet into a file that is then hosted on AWS or IPFS (hopefully), but if these servers disappear so does your NFT, as I understand it. But that way if you deleted said tweet they’d still have the NFT version of it on these other servers separate from Twitter. Until we figure out how to have NFTs on-chain, like cryptopunks are now.
NFT represents right, as the value of it is not in the digital price but in the token
A NFT is pretty much whatever you say it is, since it is just a contract. It could be 100% copyright ownership or just a copy of something, like buying a print of a painting, with no rights at all – up to you. Do you own your tweet though? This is the question. I haven’t read the legal terms for Twitter, but it seems like they have control of all of the content people post.
The answer to this is variable. It would depend on how the specific NFT is set up. In essence an NFT is just a blockchain register of a specific file. That file could be an image, code, a program, a deed, or any number of things that can be set up as a computer file. From there it’s up to how platforms interact with the NFT’s to determine use cases.
You could even have a digital NFT that’s convertable to a physical item if the proper system was in place for it. You could have an NFT transfership of deed titles, car titles, etc as well if you wanted.
In your example, it would depend on who was minting the NFT and the platform being minted on. I could take screenshot of your twitter post and mint it to an NFT, but it wouldn’t mean that you’d lose anything on your side, I would just have proof of ‘owning’ that screenshot.
One thing to note is that with Twitter’s current system, you still don’t own the rights to the post, Twitter does. They can do with it what they’d like for the most part. If Twitter decided to delegate ‘ownership’ of accounts or posts into an NFT format, then sure you could potentially ‘lose’ ownership if you transfer the NFT to someone else.
There’s not really just ‘one’ way to utilize NFT’s in systems, so their use cases are variable.
You own a file on the blockchain which could be a jpeg/screenshot of the tweet. But not the actual tweet itself. Maybe in the future nft’s will be included in some countries law. But then it would depend on the country, cause making an international law about nft’s is almost impossible.
There needs to be actual laws in place for that.
NFT Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
It depends on the rights given by a creator. Some projects may grant you unlimited rights so you can make physical representations of your NFT and make revenue from it.
It’s like music, you may own a copy via CD, digital download or even sheet but you’ll need explicit rights to make money off of it and sometimes to even play it in public.
Not unless you sell your copy of the CD to someone, you have the rights to do that. But some NFTs have royalties on them that the author benefits from the exchange.
Their is no legal claim, you own a hash number on a public chain. That’s it, how it’s interpreted and used in other contexts can make for interesting uses but there’s no claim
I think they still have to flesh this out. Technically it turns your tweet into a file that is then hosted on AWS or IPFS (hopefully), but if these servers disappear so does your NFT, as I understand it. But that way if you deleted said tweet they’d still have the NFT version of it on these other servers separate from Twitter. Until we figure out how to have NFTs on-chain, like cryptopunks are now.
NFT represents right, as the value of it is not in the digital price but in the token
A NFT is pretty much whatever you say it is, since it is just a contract. It could be 100% copyright ownership or just a copy of something, like buying a print of a painting, with no rights at all – up to you. Do you own your tweet though? This is the question. I haven’t read the legal terms for Twitter, but it seems like they have control of all of the content people post.
The answer to this is variable. It would depend on how the specific NFT is set up. In essence an NFT is just a blockchain register of a specific file. That file could be an image, code, a program, a deed, or any number of things that can be set up as a computer file. From there it’s up to how platforms interact with the NFT’s to determine use cases.
You could even have a digital NFT that’s convertable to a physical item if the proper system was in place for it. You could have an NFT transfership of deed titles, car titles, etc as well if you wanted.
In your example, it would depend on who was minting the NFT and the platform being minted on. I could take screenshot of your twitter post and mint it to an NFT, but it wouldn’t mean that you’d lose anything on your side, I would just have proof of ‘owning’ that screenshot.
One thing to note is that with Twitter’s current system, you still don’t own the rights to the post, Twitter does. They can do with it what they’d like for the most part. If Twitter decided to delegate ‘ownership’ of accounts or posts into an NFT format, then sure you could potentially ‘lose’ ownership if you transfer the NFT to someone else.
There’s not really just ‘one’ way to utilize NFT’s in systems, so their use cases are variable.
You own a file on the blockchain which could be a jpeg/screenshot of the tweet. But not the actual tweet itself. Maybe in the future nft’s will be included in some countries law. But then it would depend on the country, cause making an international law about nft’s is almost impossible.
There needs to be actual laws in place for that.
NFT Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
It depends on the rights given by a creator. Some projects may grant you unlimited rights so you can make physical representations of your NFT and make revenue from it.
It’s like music, you may own a copy via CD, digital download or even sheet but you’ll need explicit rights to make money off of it and sometimes to even play it in public.
Not unless you sell your copy of the CD to someone, you have the rights to do that. But some NFTs have royalties on them that the author benefits from the exchange.
Their is no legal claim, you own a hash number on a public chain. That’s it, how it’s interpreted and used in other contexts can make for interesting uses but there’s no claim
I think they still have to flesh this out. Technically it turns your tweet into a file that is then hosted on AWS or IPFS (hopefully), but if these servers disappear so does your NFT, as I understand it. But that way if you deleted said tweet they’d still have the NFT version of it on these other servers separate from Twitter. Until we figure out how to have NFTs on-chain, like cryptopunks are now.
NFT represents right, as the value of it is not in the digital price but in the token
A NFT is pretty much whatever you say it is, since it is just a contract. It could be 100% copyright ownership or just a copy of something, like buying a print of a painting, with no rights at all – up to you. Do you own your tweet though? This is the question. I haven’t read the legal terms for Twitter, but it seems like they have control of all of the content people post.
The answer to this is variable. It would depend on how the specific NFT is set up. In essence an NFT is just a blockchain register of a specific file. That file could be an image, code, a program, a deed, or any number of things that can be set up as a computer file. From there it’s up to how platforms interact with the NFT’s to determine use cases.
You could even have a digital NFT that’s convertable to a physical item if the proper system was in place for it. You could have an NFT transfership of deed titles, car titles, etc as well if you wanted.
In your example, it would depend on who was minting the NFT and the platform being minted on. I could take screenshot of your twitter post and mint it to an NFT, but it wouldn’t mean that you’d lose anything on your side, I would just have proof of ‘owning’ that screenshot.
One thing to note is that with Twitter’s current system, you still don’t own the rights to the post, Twitter does. They can do with it what they’d like for the most part. If Twitter decided to delegate ‘ownership’ of accounts or posts into an NFT format, then sure you could potentially ‘lose’ ownership if you transfer the NFT to someone else.
There’s not really just ‘one’ way to utilize NFT’s in systems, so their use cases are variable.
You own a file on the blockchain which could be a jpeg/screenshot of the tweet. But not the actual tweet itself. Maybe in the future nft’s will be included in some countries law. But then it would depend on the country, cause making an international law about nft’s is almost impossible.
There needs to be actual laws in place for that.