Law.com Subscribers SAVE 30%

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

Cybersecurity Law & StrategyFeaturesCryptocurrencyCybersecurityTechnology Media and Telecom

Bitcoin NFTs: Making the Case to Be Sole Digital Asset Protocol

By Cameron Pick
May 01, 2023

Non-Fungible Tokens (NFTs) are unique identifiers stored on a blockchain which represent ownership of a particular asset in the digital or physical world. They are typically created and transferred on a smart contract platform such as Ethereum or Solana. However, NFTs have recently come to the Bitcoin blockchain, which is an exciting development for several reasons.

Advantages of Bitcoin NFTs

First, there are groups of people such as Bitcoin maximalists who believe that there should only be one protocol or network for digital assets. This leads to increased networking effects, greater ease of use for users who do not have to keep track of multiple cryptocurrencies, and lower maintenance when everyone is transacting on the same chain rather than using multiple blockchains. With the advent of the Bitcoin NFT, Bitcoin has increased its chances of becoming the sole digital asset protocol.

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
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It Image

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

The DOJ's Corporate Enforcement Policy: One Year Later Image

The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.

A Lawyer's System for Active Reading Image

Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.

Protecting Innovation in the Cyber World from Patent Trolls Image

With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.