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In this article, we discuss the standards set for NFTs on the Authic platform and the possible consequences of infringing on the copyright of others.
Ensuring authenticity of NFTs
NFTs have created a whole new market for digital art and collectables. Part of the value derived from digital art depends on the proven uniqueness of the NFT. NFTs offered on the Authic platform are meant to be unique, meaning that there should only ever be one digital token or asset for a particular piece of art. Blockchain makes it possible to verifiably prove the origin and authenticity of digital art, but there are currently (still) few ways and standards to prevent artists from minting identical NFTs and selling them without the knowledge of the original buyer of the NFT. The buyer thinks he is buying a unique work but may be deceived - thus undermining trust in our platform. In order to ensure the uniqueness of the NFT, our Terms of Service state that the minting of an NFT on the Authic platform constitutes an express representation, guarantee and agreement that the artist has not minted, will not mint, will not sell or will not offer for sale at a later date any other digital collectables, assets or products for the same underlying work.
Reputation, reputation, reputation
Reputation plays an important role, both in the physical and the digital art world. A good reputation can make or break a project. A bad reputation can create uncertainty and concern about the value or credibility of the works of a particular artist. Reputation creates trust, but also acts as an enforcement mechanism to discourage infringement and duplication of (digital) artworks. For example, if you mint more NFTs than originally indicated, this erodes trust in you as an artist. The Ethereum blockchain technology is very transparent and allows collectors to locate these extra released editions. Conclusion: Trust comes on foot and goes on horseback! In other words, add value by creating original new content and follow the guidelines set by our platform, for yourself and for the community.
Sanctions for violating these guidelines
Failure to comply with our community guidelines and policies may result in:
1. Suspension of minting privileges without restriction;
2. Deletion of your account,
3. Revocation of your right of access to the Authic platform
4. Removal of your artwork from the platform; or
5. Any other punishment deemed appropriate by the Authic team.
Authic reserves the right to unilaterally suspend, withhold or remove access to the platform in the case of posting non-original content, regardless of the artist's point of view.