this post was submitted on 18 Aug 2023
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A key feature of NFTs has completely broken / Web3 was supposed to make sure the original artist always got paid. Not so much anymore. (www.theverge.com)
submitted 1 year ago by 2tone@lemmy.world to c/technology@lemmy.world
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[–] anlumo@feddit.de 0 points 1 year ago

The idea behind smart contracts is that they contain code to verify that the contract is fulfilled (that’s the “smart” part of the name).

This of course also means that you can only use it for stuff that happens on the same blockchain, because the contract can’t verify anything outside of that.

Which is why this isn’t relevant for the real world, it’s just eating its own tail.