• Hildegarde@lemmy.world
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    1 year ago

    Holding an NFT can give you ownership of an image. If you have a bored ape NFT you own some legal rights to the image.

    That’s because of contract law, and IP law. A contract assigns the copyright to the holder of the NFT, and governments enforce legal contracts.

    The only thing that gives NFTs any claim to value is the fact that a centralized authority can enforce it. The entire concept behind the decentralized leaderless authority of the blockchain is a myth.