What is the true nature of the NFT bubble

[Brainspore]

@CoffeeStar

If we get to a point where artists, auction houses, art dealers etc can agree on what legal and formal status the NFT will have, then anchoring the status of this arrangement in some sort of decentralised code can have meaning.

But intellectual property rights exist entirely independently from NFTs. The existence of the NFT grants no more rights and no more assurance against illegal distribution than the legal contract alone.