T Nation

Can Someone Explain NFTs?

I’m reading how the often memed image of the young girl in front of a burning house just “sold” as an NFT for almost half a million dollars… I understand the basic concept of ownership or copyrights, but I think I’m misunderstanding exactly this new NFT thing works…

So no one can use the meme anymore?

S

I guess technically they can claim you are violating their copyright and can demonstrate it but memes become popular because they are freely available in the public domain and easy to share.

Most likely people will allow casual use as that’s what gives them value but if used in something that generates income (eg a blog post) then possibly yes

My understanding is that these images are generated “non fungible tokens” issued under different alt coins or forms of crypto-currency, and are kept and traded within the crypto-sphere

I don’t think it changes whether or not the original non-crypto image or copies of it can be used in the public domain.

I think some of the shenanigans with these images going for insane amounts are people just throwing around new money.

Here’s one of my brother:

3 Likes

Idk what the heck is being talked about but I am all here for the education/knowledge on this very foreign subject concerning myself.

“Insert gift of someone eating popcorn?*

It’s just a 21st century tulip mania

1 Like