Are legacy brand ownership methods proving more secure than blockchain?
Now a thief has stolen a well-known NFT into which significant investment has been made to bolster upcoming production and licensing. Then the thief re-sold the NFT to what appears to be a third, innocent party. The thief is in the "ether," so to speak, protected by the very technology that titles the art, and props up its very value.
Scam GutterCats clone site. I’m crazy careful with separate wallets and security but still got got. Luckily it’s art not crypto so they can be traced. For anyone that bought them, we can work something out.— Seth Green (@SethGreen) May 17, 2022
- NFT ownership battles are going to rage in the courts for years before they are settled law;
- Lawyers will get richer than owners, and;
- Settled law around traditional titled ownership (trademarks, internet domains, etc.) appears to be much more defensible for years to come.