Japanese artwork commissioning service Skeb took to Twitter to share that it won’t be joining the non-fungible token (NFT) mania.
Last week, Skeb said that it has “no plans to issue NFTs,” and if it does, these digital artworks will belong to the creators. If they issue NFTs to clients, this will be the proof of “I requested it,” but the company noted NFTs can shift ownerships and that “will be meaningless.”
Non-fungible tokens are unique assets stored on a digital ledger that uses blockchain technology to establish a verified and public proof of ownership, and this year they have exploded into popularity and usage, recording more than $10 billion in sales.
“NFTs are now heating up as targets for investment, and creators may be issuing them without fully understanding how they work. It is also important to note that the ownership of NFTs is not in sync with the ownership of arts associated with them,” wrote the company on Twitter.
Skeb further said that NFTs are like museum memorabilia, and they should not be associated with copyrights or real properties. “NFTs should not be used as proofs of ownership of them,” it added.
As of Sept. 25, the company’s total number of registered users exceeded 1.5 million.
While not interested in NFTs, Skeb is “very interested” in using cryptocurrency as a payment method. This payment method will allow them to “keep the freedom of expression without any influence of credit card companies.”
This makes sense given that the platform accepts Visa and MasterCard but can’t accept PayPal as the payment giant doesn’t provide support to them. PayPal actually started offering crypto buying, selling, and storing last year, while Visa and MasterCard have also become crypto-friendly. This year, Visa also joined the NFT trend by buying a CryptoPunk and recently announced an NFT program to help creators.
“It isn’t that Skeb does not accept PayPal. It is that PayPal denied Skeb,” wrote the company on Twitter earlier this year.
As such, the company is actually currently having internal discussions regarding how it can be involved with cryptocurrency.