According to Geoffrey Huntley, the creator of the NFT Bay “piracy” website, he wanted to let the purchasers and potential buyers know what they were buying or about to buy. It is important to reiterate that his website is modeled after widespread software piracy and movies. The website works similar to a search engine, such that it makes it easier for users to access art that they might want to search or print but is not owned by them. However, it still acknowledges the ownership of the creator of the arts.
Related: Silk Road Founder Ross Ulbricht, Who Proved the Case for Bitcoin, Can Do So for NFTs
The NFT Bay claims its offers “all NFTs from Ethereum and Solana,” which are cryptocurrency networks in a substantial single 17 terabyte (TB) file. This contains thousands of digital items and files. However, several criticisms have followed this development; it has been stated that digital items, artwork, etc., can be accessed, downloaded, or copied by virtually anybody.
However, cryptocurrency frontiers have answered the critics by clarifying that the ownership of an NFT carries the rights to brag and clout or fame. They further said there is a difference between right-clicking and saving an image. Thus, NFT Bay’s website can be likened to a showroom for NFT Arts.
Read Also: 12-Year-Old Artist Makes Millions from Art Sales as NFTs.
Although the NFT Bay download is indeed a collection of the images of NFT artwork, it does not in any way confers ownership on those who download it. This is because it does not include any digital token – NFT (Non-Fungible Token) – which proves ownership.
Mr. Huntley intends that his website would help the ‘future generations study this generation’s tulip mania.’ This is an allusion to the bloom of tulips in the 17th century amongst Dutch investors.
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Source: Cryptocurrency - investing.com
