Uncle Bob's sudden naming of Youtuber Sunny for NFT Mono got a lot of people talking.。Is NFT really Scam, or is it just a human being who is actually Scam?
Currently, the application of NFT is not broad enough and practical enough, so it is normal that many people laugh at NFT at this stage. However, NFT is normal in nature, and it is impossible for a technology to achieve the best results in a short time, so it may take five to ten years before NFT is really useful or has any usage.
Smart Contract Basics
Function | Explanation |
|---|---|
balanceOf | Enquire about NFT holdings by address |
ownerOf | Send an Inquiry to tokenId Master |
approve | Authorize another address to use your NFTs |
getApproved | Query NFT authorized left than the next address |
safeTransferFrom | Secure Transfer |
name[] | Token Name |
symbol[] | Token Code |
tokenURI[] | Ask the URI of the metadata via tokenld |
Question
According to OpenSea's ERC721 Metadata standard, OpenSea uses the tokenURI function, which requires an HTTP or IPFS URL; in short, the image is actually an Off Chain, and the holder does hold the NFT on the chain, but only the tokenId.
If the Off Chain server that holds the URI is shut down or the content is changed, the original source of the image will disappear or be changed. Of course, the holder is still holding the same NFT, but he or she has a net tokenId in their hand, or someone else has changed the second picture.
Trust Games
Although the tokenId is unique, since the image is accessed by the Off Chain server, the author can actually repeat the Mint for the same image.This results in the existence of multiple NFTs with the same image but different tokenId's, a situation called Double Spend.
The buyer needs to consider whether the team will store the tokenURI in a place managed by a decentralized node, such as the Interplanetary File System IPFS (with a very low chance of losing the original file).
Unless the team's public terms and conditions refer to transferring copyright or authorizing commercial use.Otherwise, NFT holders generally own the title at most.The copyright remains with the author.Therefore, in most cases of NFT Projects, there is no ownership claim.。
Conclusion
NFT can indeed turn Digital Data into Digital Assets, and no one can tamper with the records in the ERC721 smart contract.
Example: If you buy a new NFT issued by Sunny, the smart contract will not only have a link to the picture of the NFT, but also a link to show that the NFT was transferred from Sunny to your address (the buyer).
But in fact, the smart contract is at most a proof that NFT is owned by the buyer, but it does not mean that the buyer has acquired the ownership of the NFT artwork, nor does it mean that the buyer fully owns the image. ......
People who step on NFT don't have to laugh, the premise is that if the metadata used by the NFT team to write the contracted array is stored on a server that can be controlled, it's not the same thing if the metadata is stored on IPFS.