California Governor Gavin Newsom has signed a bill into law that won’t stop companies from taking away your digitally purchased video games, movies, and TV shows, but it’ll at least force them to be a little more transparent about it.
As spotted by The Verge, the law, AB 2426, will prohibit storefronts from using the words “buy, purchase, or any other term which a reasonable person would understand to confer an unrestricted ownership interest in the digital good or alongside an option for a time-limited rental.” The law won’t apply to storefronts which state in “plain language” that you’re actually just licensing the digital content and that license could expire at any time, or to products that can be permanently downloaded.
The law will go into effect next year, and companies who violate the terms could be hit with a false advertising fine. It also applies to e-books, music, and other forms of digital media.
NFT are more than just digital art. It’s a token that represents a specific thing and have been around since the very early days if Bitcoin. I believe it was colored coins that were first implementation, but maybe something came before even that.
They could be a stock certificate for a company, a license to a game, a concert ticket, a house key.