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Benefit of the hindsight
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this post was submitted on 02 Jun 2025
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The sad thing is the concept wasn’t.
Selling NFTs with no physical existence is what is pointlessly stupid.
Before they came along i considered the idea of a blockchain linked video camera where metadata of footage gets written into the chain to combat fake news and misinformation.
The goal would be to create a proof and record of original footage, to which media publishers and people who share can link towards to verify authenticity/author.
If the media later gets manipulated or reframed you would be able to verify this by comparing to the original record.
It was never a finished idea but when i first read nft i thought this is the right direction.
And then capitalism started selling apes and what the actual disgusting money possessed fuck was that.
This still fundamentally suffers from the oracle problem like all blockchains solutions. You can always attack these blockchain solutions at the point where they need to interact with the real world. In this case the camera is the "oracle" and nothing prevents someone from attacking the proposed camera and leveraging it to certify some modified footage. The blockchain doesn't add anything a public database and digitally signed footage wouldn't also achieve.
The blockchain is distributed.
For example, you might use it as a trademark registry or to certify a chain of legal evidence. You can validate a presented copy matches the original and what the chain of ownership was. And you can do this without the single point of failure of a nationwide database
Who holds and validates the original you're comparing to?
That’s the point, a use case where no one has to. It’s only the record of ownership.
And clearly you’d still need to make arrangements to prevent multiple chains of ownership for a copied artifact
NFTs make the mistake of assuming that somehow makes it unique, forgetting you can just copy the original. However these use cases work from the opposite direction: given an accused infringement, does that match?
Consider the current use case for trademark. Someone creates a trademark and registers with an authority. At some point they may renew modify, or sell. After some time, that authority has a database containing the original and a chain of ownership. Blockchain could serve this identically, with the potential advantage of the chain being self contained and distributable