Seth Green gets scammed out of his NFT and it tanks his new show.

[Snarf Zagyg]

Loosely related proof we are living in the darkest timeline. I just saw this headline-

The WeWork founders are starting a carbon credit crypto company and they already raised $70 million in funding.​

 

[dragoner]

Reading the thread, it is explained that NFT's can't be stolen, if there is a legitimate transaction, as the only guarantor is the blockchain tech.

 

[J.Quondam]

Loosely related proof we are living in the darkest timeline. I just saw this headline-

The WeWork founders are starting a carbon credit crypto company and they already raised $70 million in funding.​

 

[Dausuul]

This seems pretty fishy, especially the "oh this happened right before I was going to turn this into a big hit...".

I mean, isn't one of the BENEFITS of NFTs on blockchain that ALL transactions are completely 100% (and easily) traceable? So there should be a pretty good idea what happened here.

Oh, the transaction is totally traceable. At least in the sense that you can follow the NFT from one crypto wallet to another. But you don't know who controls those wallets, unless you have access to resources (the NSA, one of the really big tech companies, etc.) that Seth Green probably does not.

And if it was, in fact, stolen - then yes (which he should be able to prove) then there are conventional ways to proceed.

Well... yes and no. He may be able to prove that it was stolen--although this is actually not as simple as it sounds, because the blockchain doesn't know or care that he was phished and his crypto key stolen. It doesn't log IP addresses. As far as it's concerned, anybody with Seth Green's public key and Seth Green's private key is Seth Green, and their actions are the actions of Seth Green, now and forever.

Now, with the help of his e-mail provider, he could probably provide some kind of evidence that he was phished, enough to satisfy a judge and assert his right to the IP represented by the NFT. Which really should be all he needs for his TV show. But the NFT itself? That's gone, gone, gone. Unless the current holder decides to be nice and give it back (or not so nice and ransom it back), there is no recourse and no way to recover it.

 

[RealAlHazred]

All of which is immaterial. An NFT is not an image, it's a receipt of an image, and anyone can animate a Bored Ape all they like -- the NFT conveys no rights. In fact, unless you are the first person to buy the NFT, you have zero rights of any kind under US contract law (see the video I linked previously for a decent if short explanation of the legal stuff; I linked to it because in a tech aside you can literally see what you get with a Bored Ape NFT). Owning the NFT or not owning the NFT has absolutely no impact on any property Seth Green may or may not have been developing.

 

[Dannyalcatraz]

Now, hang on. NFTs are basically receipts -- in most cases, they don't have anything to do with property law, or copyrights. I have a suspicion neither Seth Green, nor the writer of the article knows how NFTs work or what they are (... which is how the scammers want it, of course), or there's something else going on here.

That still doesn't make sense, though. If you can prove it was stolen, any problems with the contract (purchasing agreement) and IP rights should be fairly easy corrected. The NFT shouldn't even come up on the discussion. The law already knows how to deal with that sort of thing.

All of which is immaterial. An NFT is not an image, it's a receipt of an image, and anyone can animate a Bored Ape all they like -- the NFT conveys no rights. In fact, unless you are the first person to buy the NFT, you have zero rights of any kind under US contract law (see the video I linked previously for a decent if short explanation of the legal stuff; I linked to it because in a tech aside you can literally see what you get with a Bored Ape NFT). Owning the NFT or not owning the NFT has absolutely no impact on any property Seth Green may or may not have been developing.

This is where I am. I don’t see how property KNOWN/ALLEGED to be stolen can block a show like this. Anyone trying to muck with its creation based on the pilfered NFTs would be outing themselves as either the thieves or recipients of stolen property, neither of which grant you any rights in the stolen goods.

Not that- as was pointed out- NFTs give you any IP rights anyway,

Something’s fishy.

 

[Guest 7034872]

...starting a carbon credit crypto company...

I'll quote Bill Kristol from Nov 8, 2016: "We are in more uncharted waters than we even think."

 

[edosan]

Any time I hear about someone being into crypto my respect for them goes down...

 

[GreyLord]

That still doesn't make sense, though. If you can prove it was stolen, any problems with the contract (purchasing agreement) and IP rights should be fairly easy corrected. The NFT shouldn't even come up on the discussion. The law already knows how to deal with that sort of thing.

Exactly, this makes no sense.

Rights are a contract issue generally. It doesn't matter if someone swipes the contract, there are enough witnesses and others that generally, if someone actually even tried that, they couldn't use it. They'd be tracked down the instant they did and arrested...and still wouldn't actually have the rights.

The NFT would be an image, but it alone, doesn't give someone the right to use that singular image for any image or the idea behind the creation in general.

It would be if Disney had an NFT of Mickey Mouse, and it got swiped. Disney still has all the rights to Mickey Mouse, just not that particular NFT.

Crazy Monkey has been used previously on multiple creations. It would not make sense that a singular NFT could give someone the right to ALL those creations...unless there is some ridiculous contract behind it.

 

[RealAlHazred]

Any time I hear about someone being into crypto my respect for them goes down...

I am MASSIVELY into crypto. I think privacy is only going to get more and more important as time goes by, and the only way to ensure it in the face of increasingly draconian government and corporate surveillance is to invest in cryptographic technologies.