Digital art, more than traditional art, is prone to counterfeiting. Blockchain technology promises to be the answer.
Recently, ‘Beeple’ a digital artist sold a collage of the first 5000 pieces of his art titled “The first 5000 days” for a record $69 million. How did the buyer of the art know he was buying the original and not a copy? The artist attached a blockchain based token to the piece called a non fungible token or an NFT.
Non Fungible Tokens (NFT)
NFTs are tokens on the Ethereum blockchain that allows an artist to attach a unique digital token to the artwork. The file can be copied and shared with others, but the attached NFT cannot, as it is on the blockchain bound by a ‘smart contract’. NFTs allow the artist and the buyer to agree on what is the ‘original’ and keep all other copies at bay.
As this article puts it: “Anyone can buy a Monet print, but only one person can own the original”
NFTs are quite a rage in the art world these days. People are spending good money to buy digital art which gives them the ability to prove that they own it.
Read more about Non Fungible Tokens on the website nonfungible.com.
Hacking NFTs
Most cybersecurity professionals, like us, might not be able to tell a Monet from a Picasso, but we do know when something can be hacked and stolen.
The rise of NFTs means that there is a corresponding rise in hacking attempts to steal these NFTs.
Hackers are using account takeover TTPs (Tactics, Techniques and Procedures) to steal NFTs. The NFT sites claim that simple things like 2FA implementation will prevent NFTs from being stolen.
Not only that, hackers, being the artists that they always have been, are selling 0 day exploits as original works of art. Complete with an NFT. If you really like an exploit and want to buy the ‘original’ from the creator, you now have a chance to buy the NFT for it.
Till some hacker steals it from you, of course.
CISOs might want to apply to art houses to strengthen their cybersecurity program. Only CISOs who know the difference between a Jackson Pollock and a Mark Rothko may apply!