Vitalik Buterin Tweeted about a new concept for stealth NFTs. In short, the option would make a part of every NFT transaction private. If we used stealth NFTs, we wouldn’t be able to see who got a certain NFT, and gas prices might also go up.
Members of the NFT community did, of course, argue a lot about this controversial idea. Is it still good?
What did he say about Stealth NFTs?
Vitalik Buterin talked about his latest idea for transferring digital assets today, August 8: stealth addresses for NFTs. The co-founder of Ethereum talked about the idea on a programming forum and on Twitter.
With this new idea, the public doesn’t know who an NFT recipient is. To be clear, we wouldn’t be able to see who got a certain digital asset any longer.
“You can send an ERC721 to “vitalik.eth,” and I can see it, but no one else can see that vitalik.eth got an ERC721; they will just see that someone got an ERC721,” he said.
First of all, this idea would give the blockchain a lot of privacy. Transparency has been an important part of the NFT market, but will it stay that way?
What did people in the NFT community think of it?
Vitalik Buterin’s idea for stealth NFTs was met with an immediate response from the NFT community. Some users liked the idea and said they never wanted a transparent blockchain:
“We don’t have private blockchains because we didn’t have the technology to make them that way,” user @Quiark wrote in a tweet.
Still, there were a lot of users who were totally against it. Collectors think that stealth NFTs go against what the blockchain is supposed to do. Some people said that Vitalik Buterin doesn’t understand the NFT world or what people in the community want.
Some users also want to know how this choice would affect royalties. For instance, the Twitter user @burcin.eth asked if the creator royalties would also be given out correctly with stealth NFTs.
To sum up, Vitalik Buterin’s idea for stealth NFTs is an interesting low-tech idea. No matter how the NFT community feels about this idea, it is likely to take a long time to become a reality.