My idea is that the art is being sold and the NFT only says who owns it. It doesn’t need to be digital art, it can be just about anything where an original creator should benefit from the item changing hands.
Whenever the NFT changes hands, there are fees associated, which would include a portion of the sale going to the original artist, a royalty. And because the NFT exists on a publicly visible blockchain, back alley sales can’t happen ensuring that the artist gets paid.
This type of thing helps ensure that artists benefit from their art going into demand and increasing in value.
Don’t need blockchain, no, but blockchain has some advantages since its peer verified and, when implemented well, much harder to fake data than a centralized database might be.
With a normal database we have to trust the one person/entity managing it.
The major nft exchanges paid a portion of each sale to the artists, yes. It was one of the things that NFTs, and blockchain in general, was supposed to help solve for. IMO it’s a good use case for blockchain being used when paired with real world items.
I’m back on the high seas, but I’m worried about my ability to discover new shit or when stuff comes back. I’ve relied on my Apple TV to let me know when new seasons start for so long that I no longer have tools to keep track of shit. I literally forget the things I watch between seasons.
My idea is that the art is being sold and the NFT only says who owns it. It doesn’t need to be digital art, it can be just about anything where an original creator should benefit from the item changing hands.
Whenever the NFT changes hands, there are fees associated, which would include a portion of the sale going to the original artist, a royalty. And because the NFT exists on a publicly visible blockchain, back alley sales can’t happen ensuring that the artist gets paid.
This type of thing helps ensure that artists benefit from their art going into demand and increasing in value.