Can This Artwork Be Reproduced?
The term "non-fungible" has been getting thrown around frequently in the crypto world these days. What does that even mean? Where is the line drawn between uniqueness and replaceability?
Technically, any tokenized work is non-fungible because it's encoded on the blockchain to be demonstrably unique... but if the data of a tokenized artwork is reproduced exactly as a new and separate token, is it still non-fungible? Can it not, then, be interchangeable?
Technically no, as it can be proven to be a copy or subsequent edition of the original. Yet, as long as others recognize the copy of the NFT as the "original," the proof on the blockchain means nothing. In addition, if the exact data making up the original NFT is copied and created into a new token through a different platform or protocol, a whole new layer is added to the question of originality and inherent uniqueness.
This Artwork CAN Be Reproduced.
All of that still applies to this artwork, nothing is special about it in that regard. In the end, it's still about other people's collective agreement on what is or isn't "inherently" non-fungible or unique. A shared and decentralized ledger is only a tool (albeit a powerful one) to mediate facts between people.
The only difference with this particular image is that itself is a QR code which has encoded in it the link to the original and singular version of the NFT. Go to the link above and scan the image (or decode it here).You'll be brought right back to that same URL. If the image is reproduced as an NFT on a different platform, anyone scanning it will be redirected back to the original.
Still, it's entirely possible that nobody accepts the NFT linked in the QR code as the original and instead agree that a reproduced version on another platform to be the "true original."
A shared ledger makes this practically improbable, but not impossible.
I WANT ALL OF YOU TO REPRODUCE THIS EXACT IMAGE AS A NON-FUNGIBLE TOKEN.
Make a copy for yourself.
Send copies to your friends.
Send copies to strangers.
Host a giveaway for your copies.
Mint several copies on several NFT platforms.
Make a post to showcase your copies and the timestamps of when they were created.
Keep track of your copies and if you can prove that you own some of the first few reproductions by comparing the timestamp with the original, perhaps someone would be willing to pay you for it. Who knows? I will not be creating any reproduced copies, it's up to everyone else to decide if it's worthwhile playing along with this little experiment. Get to it!
These are the questions I hope this experiment can provide insight on:
• Can we stretch the limits of "non-fungibility" and "inherent" value?
• How many non-original copies of an NFT are required before people are willing to pay for a non-original copy?
• Is it possible for an NFT to become a meme in and of itself without becoming fungible?
NOTE: This post was originally created and published via Cent, linked below.