Except the Credit Card Firm, my bank, and the artists bank. All of which are required, by law, to keep records.
And of course the entire transaction is a simple buyers contract, thus making it legally binding and enforceable.
So if the artist tries to go back on the agreement, he can be sued. If he claims he never received funds, the court orders the banks to hand over the records.
But they're not required to tell anyone whether a transaction happened.
> So if the artists try to go back on the agreement, he can be sued.
Sued about what? The supporters want the artist to keep the money, there are no legal conflicts here other than that the artist may lie that he/she is supported by particular people. Unlike in bank case, you and me and anyone else may see for ourselves who is supported by whom.
If they receive a court order, they are required to hand over records.
> Sued about what?
If I buy something from an artist, I am entering a legally binding contract with him. Such contracts can be enforced in court.
Of course, if I just send the artist some money, then he is under no obligation to give me anything, tell anyone about it, or even say "thank you". But that's not what I do when I want to buy a piece of art.
Correct. But NFT people want to show everyone that they support artists they like. Others are free to ignore them, but with public and independently verifiable transactions no one can objectively deny that NFT people actually support the artists.
And if I buy a piece of art the classic way (buyers contract), I can put it in a gallery, or whatever, and "show everyone that I support the artist" that way.
And even without buying something, no Blockchain is required to support artists: people have managed to do so since long before electricity was discovered: https://en.wikipedia.org/wiki/Patronage#Arts