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Hackers steal NFTs worth millions. In other news, NFTs worth millions. (www.theblock.co)

submitted 10 months ago* (last edited 10 months ago) by [email protected] to c/[email protected]

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The way I read the article, the "worth millions" is the sum of the ransom demand.

The funny part is that the exploit is in the "smart" contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.

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[–] [email protected] -1 points 10 months ago (1 children)

Back with GameStop the hope was the ability to sell/trade digital content like games. Because you actually own the digital content and the proof of purchase, closest to digital ownership I've seen.

PlayStation out here taking games after people bought them and shit is a strong reason for NFTs imo

[–] [email protected] 5 points 10 months ago (1 children)

How would NFTs make any difference for Sony losing rights to a game and removing it from their servers? They still know who purchased it from their own records but still removed access entirely.

[–] [email protected] 2 points 10 months ago (1 children)

That's not what's being said here. Not Sony losing rights to a game, just entirely being unable to provide proof of ownership on digital content.

I've had Microsoft do this to me for Minecraft during their transition to owning it where they claimed I didn't own the game. I had to legitimately email them a picture of a receipt I owned to get my account back. Had I not had that receipt I'd not have the game.

I've never had Sony do this but I hear they've done this exact thing to people in other ways usually DLCs.

With NFTs there's a third party undeniable proof of purchase and ownership. It takes that whole side away from the distributor giving power to the consumer.

In a better world I could then sell that NFT and proof of purchase and the company would honor it for the person I sold it to allowing for the resale of digital content.

[–] [email protected] 3 points 10 months ago

It seems like this would solve the wrong problem with digital ownership. Even now the problem is not how to prove it, the problem is that you have to prove, and also that it's not ownership