this post was submitted on 27 Aug 2024
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“Should art be regulated by the SEC?” NFT artists file lawsuit (arstechnica.com)
submitted 3 weeks ago by Xatolos@reddthat.com to c/technology@lemmy.world
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[–] vithigar@lemmy.ca 4 points 3 weeks ago

At best you're buying into a collective agreement of ownership among those also participating in the NFT ecosystem. You own a thing because a large enough group of people agree you own it and respect the authority of that token.

At worst you've been scammed and are trying to convince yourself the above is true and that said "large enough group" includes anyone at all capable of enforcing said ownership. Spoilers: it does not.