On my journey of understanding NFT’s more deeply I’m now trying to understand how could someone validate that I own a NFT. Let’s narrow our focus to NFT’s that are digital artwork. Why is this important? In my opinion, NFT’s can be replicated and copied easier then physical assets such as purses and shoes because digital artwork can be downloaded, copied and easily modified using Photoshop or Canva.
The first way someone could validate that I own a NFT is to ask me to provide proof of ownership. If I purchased the NFT using my Coinbase Wallet then it’s easy for me to prove. The Coinbase Wallet shows all of the NFT’s that I own. The first screenshoot of my phone shows that I own 3 NFT’s in a OpenSea Collection. OpenSea is probably the most known NFT marketplace at this moment. The second screenshoot shows the NFT’s that I own in the collection (after clicking on the collection).
We could also lookup who owns a NFT by finding the artwork in the marketplace (OpenSea in our case) and validating the owner that way. While writing this article I noticed that the NFT ticket created for Hacking With The Homies Developer Conference with my picture on it was recently sold. So, let’s go look at the new owner.
- Open a browser to OpenSea.io
- Search for “Hacking With The Homies Developer Conference”
2. Click on the NFT ( I clicked on the Mack Hendricks one )
Notice, that it’s owned by rayduece now and I could make an offer to him to purchase the ticket from him and generate a royalty since we enabled royalties on the NFT when I created it :-). I will explain how to configure royalties in an upcoming article.
Issues / Solution Gap
I do see some issues that I’m trying to come to terms with. The primary issue is what prevents me from listing the same digital artwork twice on the same NFT marketplace or perhaps I list it on another NFT marketplace that might be using a different blockchain. It seem like we need to have some service that validates that the same digital artwork isn’t being listed multiple times. I would be interested to hear your thoughts about this. DM me on Twitter @mackhendricks.
Where to Find Me
I will be speaking at the upcoming Hacking With The Homies Developer Conference on NFT’s during our hands-on workshop on Feb 26. You can purchase a ticket as a NFT or purchase it using a credit card / PayPal.