Looking Outwards 11

This week I read about NFT and Copyright, discussing what is NFT, why they are valuable and the issue of its copyright. NFT(Non-fungible Token) means digital and unique token. NFT can give artists a potential revenue stream when they are selling their own art. Everyone can easily access other creators’ NFT, while this raises another question that spammers can also steal it for money. Thus, copyright issues seem to be more critical: NFT auction sites created DMCA processes to prevent the spread of unauthorized NFT, but it’s not effective enough. In this article, the author also mentions that block-chain might be the perfect tool for solving copyright problems, but it still brings new privacy concerns. In a nutshell, NFT itself needs to be scarce if it wants to create artificial scarcity. There is still a long way to go.

https://www.plagiarismtoday.com/2021/03/16/nfts-and-copyright/