Perspective on NFT problems, what bugs are left to fill?What is an MadCanner NFT art?

Shirolynandeswr
3 min readMar 30, 2022

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NFT’s business value and prospects are good, but the current NFT business rules, systems and models are not perfect, and there are some systemic mechanism shortcomings and bugs waiting to be solved. In essence, NFT is actually a cryptocurrency disguised as a digital work, uniquely dependent on the platform it is issued on — after all, so picking a good platform is also important. Currently the more representative NFT platforms are OpenSea and Rarible. in addition internet giants have joined the NFT track. https://discord.gg/6SA6brU2Xc

Perspective on MadCanner NFT problems.The MadCanner is the first application using Particle Protocol, powered by @MetaParticle. The MadCanner is the world’s first 10,000 unique NFTs that are able to merge and split. A MadCanner is composed of 8 NFTs, including a template and 7 parts: background, eyes, mouth, top, body, straw and gesture. Users can easily split, merge and replace each part.

Untamperable and uniqueness are the characteristics of NFT, but to have both features are not easy to achieve. First of all, the premise of non-tamperability is that the blockchain is running on the global device, that is, in order to decentralize, but many domestic platforms are engaged in NFT on their own servers, which means that the giants actually control their own platform data tampering authority. From the point of view of uniqueness, it is only reflected in the discovery of its NFT platform to have uniqueness. For example, if an artist publishes a work on an NFT platform, the unique code is set by the platform. But the same work, change to another platform, with another chain can also make the same NFT work, on that platform, it is still unique. Because of the difference of platform and encryption method, it may lead to different uniqueness of the same NFT work. In addition, the core of the originality confirmation of NFT is who is the first to upload to the blockchain, but the problem is that the first to upload to the blockchain may not be the original. If a pirate, uploads a work to a blockchain before the original author, does the pirate have perpetual ownership?

Different platforms with different encryption methods can have multiple uniquenesses for the same work, often leading to the possibility that the original creator’s work is often stolen if he or she does not publish the NFT work on that platform in the first place. The current NFT mechanism bug is that it can confirm the ownership owner, but not the original copyright owner. Of course, in some IP itself does not need to confirm the original, can still play the value of NFT. After all, the entire NFT transaction mechanism is not perfect, not transparent, there is a lot of room for manipulation, which is why more and more capital, institutions and platforms are trying to find wealth codes and marketing opportunities through NFT. How to improve NFT from the mechanism level in the uniqueness, originality, copyright recovery, transaction transparency, the perfect trading mechanism and other level of bugs and shortcomings, there is still a long way to go, but also need time to verify.

Therefore, the utopia of uniqueness, immutability and originality of NFT is trapped in the soil and cage of the reality of human nature, and behind this utopian ideal there is no escape from the profit-making of capital. https://discord.gg/6SA6brU2Xc

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