NFTs are Way Dumber than We Even Realized
Featured 02/06/2022
Just what the heck is an NFT? If you are asking yourself this question, don't worry you are not alone. One of the more recent cryptocurrency developments of the last few years are NFTs or 'Non-Fungable Tokens'. "FTs are a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded".[wikipedia] There are a few different types of NFTs most commonly they are associated with digital files such as photos, videos, and audio. Because each token is uniquely identifiable, NFTs differ from blockchain cryptocurrencies, such as Bitcoin.
The ledgers for NFTs claim they provide a public certificate of authenticity to serve as proof of ownership, but the actual legal rights associated with them are a bit murky. Since the NFTs do not restrict the sharing or copying of the digital assets, it does not prevent the creation of NFTs with identical associated files or internet users' ability to share, download, and use them.
In this Cracked Original video, Roger asks what if NFT collections like Bored Ape Yacht Club, Azuki, CloneX, and other such stupid crap were actually honest about what they were?
The ledgers for NFTs claim they provide a public certificate of authenticity to serve as proof of ownership, but the actual legal rights associated with them are a bit murky. Since the NFTs do not restrict the sharing or copying of the digital assets, it does not prevent the creation of NFTs with identical associated files or internet users' ability to share, download, and use them.
In this Cracked Original video, Roger asks what if NFT collections like Bored Ape Yacht Club, Azuki, CloneX, and other such stupid crap were actually honest about what they were?
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