"Not Forgotten, But Gone" is an NFT piece that consists of a video render of a gummy bear skeleton inside a box, which belongs to a series of NFTs that portray gummy bears in different artistic renditions made by one of New York's contemporary artists, WhIsBe. Credit: twitter Can the Law Really Accommodate NFTs?
The notion of possessing something online that is truly unique is where most people think the value of NFTs is - but this is a misconception. The real value comes in being able to prove ownership of the original from which everything else was derived.
November 12, 2021 at 05:20 PM
5 minute read
For those still becoming familiar with NFTs ("Non-Fungible Tokens"), they use the Ethereum blockchain to sell original versions of digital artefacts. An example would be Andy Warhol's famed Campbell's Soup can. Were Warhol alive and creating this artwork today, he might choose to release it as a token on the blockchain, with only one original owner registered, as an NFT is a token we use to represent a right in something we own.
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