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Legal Issues Around Tangible Asset NFTs

When a NFT is transferred to another, both the NFT and its copyright are automatically transferred. However, the intellectual property rights associated with the underlying asset may not necessarily be automatically transferred, unless stated otherwise.


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Midwest Tungsten, a supplier of metal for industrial uses, recently paired a blockchain with a 14.545-inch, 2,000-pound cube of tungsten to produce a non-fungible token (NFT). Assets that are digitally transferrable between two parties via blockchain are commonly referred to as “tokens.” An NFT is a crypto asset or “token” that represents or points to a physical or digital asset such as art, videos, land or, in this case, a cube of tungsten. NFT for tangible assets give rise to a range of legal liability issues including those related to asset storage, transfer, visitation rights (in the case of tangible NFTs), privacy rights, as well as related costs.

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