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miracle2k | 2 years ago

> If you hold ETH according to the chain, it’s yours.

So is my NFT! No one can take it away from me. There are a couple things that could happen:

- The artist can mint an additional copy; this could mean my own copy loses value, or it could mean the community doesn't care, and continues to value the original one. Similarly, the folks that issue some ERC-20 token can decide to issue a new one and abandon their old token. In fact, vitalik et al could advocate for a fork for ETH. This is just how the social layer works.

- The media file associated with the NFT could be lost or changed. This can be a problem, but can also be addressed (IPFS), and can also be art: https://publico.pob.studio/piano

Larva Labs, the pioneers behind Cryptopunks, didn't even bother to put a link into their NFT at the time: it literally is a item/owner table. They didn't forget the link, they correctly understood that what the token represents is defined at the social layer.

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