Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

The Intellectual Property StrategistFeaturesIntellectual PropertyTechnology Media and Telecom

NFTs and IP Protection

By Gregory Baker, Anne-Laure Alléhaut and Catherine J. Djang
July 01, 2022

Non-fungible tokens (NFTs) are the latest trend to sweep markets from the art industry to professional sports leagues. These digital assets have existed for several years but have achieved explosive popularity only recently. In fact, the global market for NFTs reportedly hit over $40 billion in 2021. Despite this, the legal frameworks governing NFTs — which could significantly impact the risks and rewards of buying or selling NFTs — are still catching up. This article addresses another key legal dimension of NFTs: intellectual property protections.

What Are NFTs?

If you have not yet familiarized yourself with the basics of blockchain technology, that is the place to start. At its core, a blockchain is meant to be an immutable ledger that records one or a series of transactions, with each transaction verified by a peer-to-peer network rather than a centralized organization. The network constantly checks and validates the accuracy of the blockchain. Once on the blockchain, the record cannot be reversed or erased; one can only add a new blockchain recording the new information. Within that ledger technology, there are: 1) fungible tokens, meaning that one token can be replaced by any other token — a typical example is a cryptocurrency; and 2) non-fungible tokens (NFTs).

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
New York's Latest Cybersecurity Commitment Image

On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.

The Bankruptcy Hotline Image

Recent cases of importance to your practice.

Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office Image

A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.

How AI Has Affected PR Image

When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.

CLE Shouldn't Be the Only Mandatory Training for Attorneys Image

Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.