This week’s featured collector is BeepCode
BeepCode is a composer and sound designer. Check out their NFT collection at lazy.com/BeepCode
The results of last week’s poll: When do you think NFTs will regain mainstream attention?
The results of last weeks’ poll reveal a split in opinions on when NFTs might regain mainstream attention. While the largest group at 29% believes NFTs will resurge within 6 months, a combined 43% think it will take 1 to 2 or more years, with an additional 19% being strong skeptics who believe NFTs will never return to prominence. This polarization suggests NFT collectors should be prepared for potential longer holding periods and be aware of the negativity overhang from those who have lost faith in the market.
The divergent results also point to the possibility of a two-speed market developing, with short-term flippers hoping for a quick rebound coexisting with longer-term holders. Collectors will need to decide which approach aligns with their own outlook. Moreover, for the optimistic 29% to be proven right, a catalyst will likely be necessary to reignite mainstream interest… what could that be?
In navigating this uncertain landscape, NFT collectors should strike a balance between short-term optimism and long-term realism. The poll underscores the unsettled nature of the NFT market and the wide range of views on its future prospects.
Is NFT IP Real? The Confusing Truth about NFT Intellectual Property Rights
As an NFT collector, it’s crucial to stay informed about the evolving legal landscape surrounding NFTs and their associated intellectual property (IP) rights. Two articles published this week shed light on the challenges and uncertainties that NFT collectors should be aware of when navigating this space.
The first article from the non-profit Tech Policy Press delves into the potential gap between existing copyright law and the unique features of NFTs and blockchain technology. The crux of the issue is that the immutability of blockchains raises questions about the liability of platforms hosting NFTs that infringe on someone’s copyright. If an infringing NFT cannot be deleted due to the blockchain’s immutable nature, it’s unclear when and if the hosting platform should be held responsible. This legal ambiguity could stifle innovation and research in the blockchain space, which is why the article suggests modernizing copyright law to strike a balance between protecting copyright owners and fostering the growth of NFT platforms.
The second article, published in Decrypt, focuses on the recent controversy involving Yuga Labs and Moonbirds NFTs. The short version is: despite the original creators having relinquished copyright claims by filing the collection under Creative Commons 0 (CC0), Yuga Labs attempted to grant exclusive commercial rights to Moonbirds NFT holders. This kicked up a storm of confusion as some argued Moonbirds are public domain forever while others made sophisticated arguments distinguishing between copyright and trademark. The article argues that NFT projects often rely on trademark law rather than copyright when bestowing commercial rights. While aggressive policing of trademarks might temporarily boost perceived value, it could ultimately backfire and limit the organic growth of the NFT ecosystem.
As an NFT collector, these articles highlight that it will be crucial for lawmakers, NFT projects, and collectors to work together to establish clearer guidelines and best practices around IP rights. By fostering a more transparent and legally sound ecosystem, we can unlock the full potential of NFTs while protecting the interests of all stakeholders involved.
Could NFTs Help Stop the Artificial Intelligence Apocalypse?
Science fiction author David Brin recently suggested that the key to combating the existential threat of rogue AI is through a system of reciprocal accountability, where AIs are incentivized to police each other. By anchoring AIs to unique “soul kernels” in the physical world and registering their identities on a blockchain, Brin believes we can create a framework for holding AIs accountable.
Brin’s proposal raises an intriguing possibility for NFTs. If AIs are anchored to unique “soul kernels” in the physical world, with their identities registered on a blockchain, NFTs could potentially serve as the immutable proof of an AI’s individuality and standing. In this scenario, NFTs would represent more than just digital collectibles; they would be the key to an AI’s ability to participate in the system of checks and balances Brin envisions. While this idea is purely speculative—Brin didn’t mention NFTs—and faces significant challenges in implementation, it offers food for thought on how NFTs might play a role in shaping the future of AI governance and accountability. As the NFT space continues to evolve, it’s worth considering how these unique digital assets could potentially play a role in our relationship with artificial intelligence.
Read David Brin’s proposal at CoinTelegraph.
This week’s poll: As AI advances, what role do you think NFTs will play in the future of artificial intelligence?
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