Let's start with the sad one. Promoted networks and NFT markets almost do not protect the real content creators’ copyrights in any way. Blockchains used to create NFT and marketplaces are partly to blame for this. If the accounts are anonymous, no one asks for authorship confirmations, and KYC/AML are strictly situational, it is strange to expect a careful attitude to copyright…
To the credit of some marketplaces, they are trying to solve the problem. They are asked to add as much information as possible when registering NFT, give links to social networks, etc. But!
This doesn’t limit in any way those who use other people's works, creating NFT on their basis. It’s not so difficult to find a good author on the web who knows nothing about the NFT, and start selling his works.
What can the resource administration do then? In the best case, hide the created NFTs from the marketplace or block a fraudulent account. But only if the real author gets in touch.
Who will be in the red in this case? A fraudster who, most likely, has already withdrawn the funds received? Or the real author? Or maybe NFT buyers?
The only way to somehow contain the wave of fakes and openly stolen content in the NFT sphere is the mandatory passage of KYC/AML. This rule should apply at the level of the entire blockchain, and not a specific market. Because nothing prevents a conditional fraudster from making NFT directly in the blockchain, without marketplace constructor, and then sell it to everyone.
As a result, the blockchain has become a common tool, no better (and sometimes worse) than other copyright fixing services. But it could have become the author's best friend, impartially fixing the authorship and confirming the authenticity.
But if the axe, instead of chopping, only gets your hands wet and rubs calluses — this is not a reason to return to the hacksaw, right?
In the FOIL Network, I without much surprise found a built-in KYC/AML and the requirement to pass it to create an NFT.
It's very simple. To create an NFT, you will need a verified account, you will not be able to bypass this requirement. Yes, you can use an alias, but real data will be required for verification. This immediately takes the FOIL network to a much more serious level.
Why? Because now a fraudster who used someone else's work to create his own NFT and then sell them will have to undergo verification and transfer the data to a trusted center. This means that he will not be able to sit behind the mask of anonymity, and if (when) the real author appears, he will be able to file an absolutely real claim for violation of his copyright - not to “an indefinite person or group of persons”, but to a very particular individual.
This will help to minimize fraud in the field of NFT.
Someone may say that this contradicts the basic principles of cryptocurrencies, where the anonymity of the wallet and transactions is extremely important.
And I will agree with this. But the problem is that the principle of complete anonymity in the case of NFT works in the negative! For NFT, information about the author, confirmation of authenticity and the absence of third-party duplicates are extremely important.
Therefore, it seems to me that FOIL Network is moving in the right direction, not completely abandoning the principles of anonymity in cryptocurrency, but introducing reasonable restrictions aimed at the convenience and security of authors and buyers. Because not only those who produce content suffer from scammers, but also those who buy it! What do you think will happen to the price of NFT when it turns out that it was made not by the author, but by a fraudster?
By the way, about the buyers’ rights.
Having started a conversation about copyright, I can't miss one interesting point. I have repeatedly heard the opinion that buying an NFT is almost the same as buying the original, after which you can do anything with it.
And... this is absolutely not true. The buyer only has the right to own the non- fungible token itself. If you remember the previous articles, you have already guessed what is the matter here.
The vast majority of current NFTs do not contain the content itself. Only its hash and a link to the media server where this content is located. This means that the NFT buyer does not have any rights to the content attached to the NFT. He can't, to be quite strict, even show it on his blog!