{"id":77984,"date":"2021-12-27T10:41:44","date_gmt":"2021-12-27T15:41:44","guid":{"rendered":"http:\/\/danielschristian.com\/learning-ecosystems\/?p=77984"},"modified":"2021-12-27T11:42:22","modified_gmt":"2021-12-27T16:42:22","slug":"several-items-re-nfts-and-the-pros-and-cons-of-using-them-in-our-society-today-how-can-the-legal-realm-assist-here","status":"publish","type":"post","link":"http:\/\/danielschristian.com\/learning-ecosystems\/2021\/12\/27\/several-items-re-nfts-and-the-pros-and-cons-of-using-them-in-our-society-today-how-can-the-legal-realm-assist-here\/","title":{"rendered":"Several items re: NFTs and the pros and cons of using them in our society today. How can the legal realm assist here?"},"content":{"rendered":"<hr \/>\n<p><span style=\"color: #800000;\"><em>From DSC:<\/em><\/span><br \/>\n<strong><span style=\"color: #800000;\">As with many emerging technologies, there appear to be some significant pros and cons re: the use of <\/span><a href=\"https:\/\/www.google.com\/search?q=what+is+an+nft&amp;source=hp&amp;ei=tubJYbu6PMTQtQa_8IyQBg&amp;iflsig=ALs-wAMAAAAAYcn0x5YHC6CMNqwvfFaYheRhshBaU3W9&amp;ved=0ahUKEwi77balsIT1AhVEaM0KHT84A2IQ4dUDCAk&amp;uact=5&amp;oq=what+is+an+nft&amp;gs_lcp=Cgdnd3Mtd2l6EAMyCAgAEIAEELEDMgUIABCABDIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQyBQgAEIAEOggIABCxAxCDAToICAAQgAQQyQM6BQgAEJIDOgsIABCABBCxAxDJAzoICC4QgAQQsQM6CwgAEIAEELEDEIMBUKwCWJAPYKsRaAFwAHgBgAHXAogB2w-SAQcxLjYuMi4ymAEAoAEBsAEA&amp;sclient=gws-wiz\" target=\"_blank\" rel=\"noopener\">NFTs (Non-Fungible Tokens)<\/a>.\u00a0<\/strong><\/p>\n<p><span style=\"color: #800000;\"><strong>The question I wonder about is: <\/strong><\/span><span style=\"color: #800000;\"><strong>How can the legal realm help address the massive impacts of the exponential pace of technological change in our society these days? For examples:<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #800000;\"><strong>How is &#8212; or should &#8212; <a href=\"https:\/\/twitter.com\/ABAesq\" target=\"_blank\" rel=\"noopener\">the American Bar Association<\/a> respond? <\/strong><\/span><\/li>\n<li><span style=\"color: #800000;\"><strong>Law schools?<\/strong><\/span><\/li>\n<li><span style=\"color: #800000;\"><strong>Lawyers? <\/strong><\/span><\/li>\n<li><span style=\"color: #800000;\"><strong>Legislatures? <\/strong><\/span><\/li>\n<li><span style=\"color: #800000;\"><strong>Judges? <\/strong><\/span><\/li>\n<li><span style=\"color: #800000;\"><strong>Politicians and others?<\/strong><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #800000;\"><strong>Technicians, network engineers, data center specialists, computer scientists, and others also need to be asking themselves how they can help out in these areas as well.<\/strong><\/span><\/p>\n<p><span style=\"color: #800000;\"><em>Emphasis below is mine. <\/em><\/span><\/p>\n<hr \/>\n<p><a href=\"https:\/\/www.wired.com\/story\/nfts-hot-effect-earth-climate\/\" target=\"_blank\" rel=\"noopener\"><strong>NFTs Are Hot. So Is Their Effect on the Earth\u2019s Climate<\/strong> <\/a>&#8212; from wired.com by Gregory Barber<br \/>\n<em><span style=\"color: #800000;\"><strong>The sale of a piece of crypto art consumed as much energy as the studio uses in two years. Now the artist is campaigning to reduce the medium\u2019s carbon emissions.<\/strong><\/span><\/em><\/p>\n<p><em>Excerpt:<\/em><\/p>\n<p style=\"padding-left: 40px;\">The works were placed for auction on a website called Nifty Gateway, where they sold out in 10 seconds for thousands of dollars. The sale also consumed 8.7 megawatt-hours of energy, as he later learned from a website called\u00a0<a class=\"external-link\" href=\"http:\/\/cryptoart.wtf\/#contract=0x3e4c19ea950f054618dc658e374a694a10548d11\" target=\"_blank\" rel=\"nofollow noopener\" data-offer-url=\"http:\/\/cryptoart.wtf\/#contract=0x3e4c19ea950f054618dc658e374a694a10548d11\" data-event-click=\"{&quot;element&quot;:&quot;ExternalLink&quot;,&quot;outgoingURL&quot;:&quot;http:\/\/cryptoart.wtf\/#contract=0x3e4c19ea950f054618dc658e374a694a10548d11&quot;}\">Cryptoart.WTF<\/a>.<\/p>\n<p><a href=\"https:\/\/101blockchains.com\/nfts-and-metaverse\/\" target=\"_blank\" rel=\"noopener\"><strong>NFTs And Their Role In The \u201cMetaverse\u201d<\/strong><\/a> &#8212; from 101blockchains.com by Georgia Weston<\/p>\n<blockquote><p><span style=\"color: #ff6600;\">Many people would perceive NFTs as mere images of digital artworks or collectibles which they can sell for massive prices. However, the frenzy surrounding digital art in present times has pointed out many new possibilities with NFTs. For example, the NFT metaverse connection undoubtedly presents a promising use case for NFTs. The road for the future of NFTs brings many new opportunities for investors, enterprises, and hobbyists, which can shape up NFT usage and adoption in the long term.\u00a0<\/span><\/p><\/blockquote>\n<p style=\"padding-left: 40px;\"><span style=\"color: #800000;\"><strong>NFTs or non-fungible tokens are a new class of digital assets, which are unique, indivisible, and immutable. <\/strong>They help in representing the ownership of digital and physical assets on the blockchain.<strong> Starting from digital artwork to the gaming industry, NFTs are making a huge impact everywhere.<\/strong><\/span><\/p>\n<p style=\"padding-left: 40px;\"><strong><span style=\"color: #800000;\">The decentralized nature of the blockchain offers the prospects for unlimited<\/span>\u00a0<a href=\"https:\/\/101blockchains.com\/business-opportunities-for-blockchain\/\" target=\"_blank\" rel=\"noopener\">business opportunities<\/a>\u00a0<span style=\"color: #800000;\">and social interaction. Metaverse offers extremely versatile, scalable, and interoperable digital environments. Most important of all, the metaverse blends innovative technologies with models of interaction between participants from individual and enterprise perspectives.\u00a0<\/span><\/strong><\/p>\n<p><span style=\"color: #800000;\"><em>From DSC:<\/em><\/span><br \/>\n<strong><span style=\"color: #800000;\">How might the developments occurring with NFTs and the Metaverse impact a next-gen learning platform?<\/span><\/strong><\/p>\n<p>&#8212;&#8211;<\/p>\n<p><a href=\"https:\/\/futurism.com\/the-byte\/artist-stealing-nfts\" target=\"_blank\" rel=\"noopener\"><strong>Artist shuts down because people keep their work to make NFTs<\/strong><\/a> &#8212; from futurism.com by Victor Tangermann<br \/>\n<em>NFT theft is a huge problem <\/em><\/p>\n<p><a href=\"https:\/\/futurism.com\/the-byte\/olive-garden-nfts\" target=\"_blank\" rel=\"noopener\"><strong>Someone is selling NFTs of Olive Garden locations that they do not own<\/strong><\/a> &#8212; from futurism.com by<br \/>\n<em>And you can mint a breadstick NFT &#8212; for free, of course<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From DSC: As with many emerging technologies, there appear to be some significant pros and cons re: the use of NFTs (Non-Fungible Tokens).\u00a0 The question I wonder about is: How can the legal realm help address the massive impacts of the exponential pace of technological change in our society these days? For examples: How is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[113,329,819,387,174,86,209,45,260,297,112,271,72,210,237,35,180,510,199,62,44,309,405,480,454,206,367,11],"tags":[],"class_list":["post-77984","post","type-post","status-publish","format-standard","hentry","category-21st-century","category-24x7x365-access","category-blockchain","category-business","category-career-development","category-change","category-changing-business-models","category-computer-science","category-content-development-aggregation-repositories","category-copyright-ownership-nfts","category-corporate-business-world","category-creativity","category-daniel-s-christian","category-emerging-technologies","category-entrepreneurship","category-game-changing-environment","category-innovation","category-learning-from-the-living-class-room","category-more-voice-more-choice-more-control","category-online-learning","category-pace-of-change","category-platforms","category-play","category-society","category-the-downsides-of-technology","category-trends","category-vendors","category-vision-possibilities"],"_links":{"self":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/77984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/comments?post=77984"}],"version-history":[{"count":22,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/77984\/revisions"}],"predecessor-version":[{"id":78007,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/77984\/revisions\/78007"}],"wp:attachment":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/media?parent=77984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/categories?post=77984"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/tags?post=77984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}