A new plan to lure social media users to the metaverse could legitimize NFTs, but it could also ruin them
found profiles selling NFTs of trademarked logos from some of the world’s biggest brands, including Microsoft, Disney, Amazon, and Adidas, without permission.
For those deep in the NFT space, the adoption of official standards by Twitter in particular is welcomed. Plenty of Twitter users have NFT art as their profile picture, but find it difficult to prove ownership, particularly when faced by trolls who like nothing more than to right-click and steal their NFTs to show them the fallibility of their investments. “Right now, anyone can just put up a CryptoPunk picture and pretend to have one,” says McCorry.
The legitimacy that Big Tech lends the NFT experiment is a major benefit for boosters of the technology. But it could also be the thing that signals the beginning of the end for it in the long run. “One of the things about NFTs is that you and I can agree to exchange wherever we like,” says Woodward. “But if you get a corporate involved, isn’t it all becoming a bit Big Tech and commercial?”
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