Japanese Art Commission Platform CEO Skeb warns of misinformation around NFTs – Interest

Kazunari Kida expressed concern that artists may misunderstand DFTs as a form of art ownership

The NFT (Non-Fungible Token) boom has accelerated in the anime and manga industries in recent months, but the practice of tying art to NFTs has also raised concerns in art communities about Potential scams, money laundering and their environmental impact. .

Kazunari Kida, CEO of Japanese art commission platform Skeb, wrote a popular Twitter thread on Monday detailing the potential drawbacks of NFTs and the reasons Skeb currently has no plans to put them out. implemented. First, he explained that while an NFT can prove ownership of the token itself, it is not proof of ownership of the related artwork, nor the equivalent of the right to author. NFTs do not contain any DRM function and have no way of preventing copying of the artwork. A token displays a URL to the artwork, which generally anyone is able to access.

“It is possible to create a token from the work of another person without permission. There is no function to prove that the creator of the related artwork generated the token by legitimate means,” he warned, adding that if a token was generated without authorization, there is no automated process to delete it; creators should take matters into their own hands by filing a copyright or DMCA infringement claim directly with the service provider.

On a practical level, he also noted that it is not easy to implement NFTs for art orders as they are not equipped with a “smart contract” type function that would automatically generate a token. once the order is complete. The tax status of NFT sales income is also unclear at this time as the National Tax Agency of Japan has yet to determine whether it should be considered business income or miscellaneous income. If, like cryptocurrency trading, they were to be considered miscellaneous income, then they cannot be calculated as part of a company’s bottom line. In addition, if NFTs were to be considered intangible assets, then they may be subject to consumption tax.

Kida said he was concerned that because the concept of symbolic property was entirely new, many creators using it might have confused it with art ownership or intellectual priority. He said he doesn’t reject the concept of NFTs as a whole and thinks it’s perfectly okay to trade them as long as everyone involved understands what they are. As it stands, however, he is concerned as he has seen people attempt to explain DFTs as a form of art ownership.

“I have seen artists around me attach their work to NFTs while still being in a state of confusion as to who they are, and that is, more than anything, what worries me,” a- he writes.

He said that the aforementioned reasons explain why Skeb will not add an NFT related function for the foreseeable future. He added that he had been bombarded with comments on his social media accounts about adding the feature, which got him fed up.

He concluded the thread by stating that on a personal level he has a positive view of the crypto as a whole, but believes that the possible downsides in this particular case have not been adequately explained. He also specified in a replica that it doesn’t necessarily say that NFTs are a scam and that it encourages others to consider the positives and negatives when doing their own research.

Skeb is used by thousands of Japanese artists, including prominent manga creators and animators. Popular users include SUPER HXEROS manga creator Ryōma Kitada and Hana-Saku Iroha character creator Mel kishida.

Source: Kazunari Kida’s Twitter Account

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