Hacker News Reader

People really are writing tokens with custom transfer functions that do this sort of thing. The main use case seems to be allowing artists to collect fees on non-first sales of an NFT. This whole genre of program is a bit suspect to me though, because if you had a trusted counterparty or an escrow you could just sell them the private key for the account containing the NFT, and they could conduct a "sale" for $1 to their own wallet.

View on HN

That is what I meant by the value being enforced by the courts: the artist could cheat me by selling my “exclusive” purchase again or in different locations, I could cheat them by making copies elsewhere or hiding part of the transaction, etc. and in each case the remedy is a court case just as with a normal contract making the same claim — the difference is that I don’t need to pay to maintain an expensive IT operation as well.

There will never be a real secondary market for NFTs.

How are people going to re-sell an NFT when its metadata points to a file that 404s.

NFTs that point to particular IPFS proxies or that point to IPFS files that nobody pins are not a great start. There are technical solutions to this problem, like using Arweave instead.

Overall I don't really like or care about NFTs.

Reply on news.ycombinator.com