In establishing digital scarcity via one-of-a-kind tokens, and in holding out the promise of peer-to-peer digital media exchanges, NFTs hint at new approaches for media companies and brands to engage directly with their audiences without the intermediation of the platforms.
NFTs pose their own ownership issues. Many buyers are discovering they don’t really own the art or content to which they are attached.
And, as Khloe Kardashian’s bikini photo saga shows, it’s very hard to stop the replication of content, especially when it’s going viral. NFTs can’t physically stop or control the copying of digital content.
However, we can establish standards assuring that special rights to NFT-associated content are not controlled by a separate custodial platform but are assigned to the token owner and cryptographically bundled with the token itself so they can be easily transferred to the buyer with each downstream sale.