The integrity of NFT art is being defeated by project designers who leave essential token → asset mappings off-chain

Example of a NFT from a popular collection called Hashmasks

Non-fungible tokens (NFTs) on the Ethereum blockchain are spearheading the next wave of innovation following the massive Decentralized Finance (DeFi) wave. The typical use-case for NFTs is mapping ownership of a digital asset to the holding of a unique token on chain. NFT-represented assets don’t necessarily need to be digital, although it’s a more natural fit than representation of physical assets. Representing digital assets on the blockchain is natural because the bits that compose the digital file can be hashed to a shorter representation of the file which is cheaper to store on chain.

The first NFT-type project on Ethereum…

El nuevo sistema global financiero se está construyendo sobre Ethereum, la plataforma descentralizada de contratos inteligentes más grande del mundo. Ethereum se creó en el año 2015; mas en los últimos tres años se ha acelerado la innovación en la plataforma. Durante estos últimos años la comunidad fue creando las piezas claves que se están usando para construir el nuevo sistema financiero global, llamado DeFi (diminutivo en inglés de Finanza Descentralizada). El DeFi en Ethereum es un sistema financiero en el que fluye su moneda nativa, Ether, y es independiente de bancos, instituciones centralizadas, o entidades gubernamentales. No requiere pedir…

A deep-dive into the CryptoPunks ownership model; and why I own one despite its most significant shortcoming

CryptoPunk 435, the cheapest CP listed for sale at the time of writing. Valued at $39k.

CryptoPunks is the grandaddy of all NFT art projects.

Apart from being the inspiration for the Ethereum ERC-721 token standard, which defines the basis of what an NFT should be, its market cap speaks for itself. The whole collection is comfortably valued at over $400 million — estimated by using the current value of the cheapest CryptoPunk in the collection.

Launched by Larva Labs in June 2017, CryptoPunks consists of 10,000 unique 8-bit-style, low resolution images of so-called punks, all stitched together forming a 100x100 grid.

Loved how you covered a lot and were very clear in your message.

My biggest doubt regarding the Print owners and Ponzi Scheme arguments is that there is literally no direct value in owning a Print if not to buy low, sell high.

As a Print owner, you don't get royalties (at least not in a structured, decentralized, non-optional manner), you don't have commercial, or any rights, for that matter (except holding the token), over the LP.

So, why own a Print?

Adam Eisenman

Ethereum developer, BTC enthusiast, former iOS dev, logistics information technologist, product developer, business director, former sat communications engineer

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