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First off today, Samantha Handler at Bloomberg Law reports that the film studio Mirimax has filed a copyright infringement lawsuit against director Quentin Tarantino over Tarantino’s plans to release of Non-FungibleTokens (NFTs) related to the film Pulp Fiction.
As many know by now, non-fungibletokens (“NFTs”) are unique units of data stored on a blockchain that have become an increasingly popular way to buy and sell artwork (as well as all kinds of other things). The phrase “investment contract” is not defined in the Securities Act. Howey Co. , not the investor).
While NFTs – aka tokencontracts- last forever on the blockchain ledger, the linked digital asset could be taken from you or have its value/utility diminished or extinguished. Securities law, contract law, consumer protection laws, and causes of action for fraud and misrepresentation are all possible legal claims.
As previously reported on this blog , non-fungibletokens (or “NFTs”) recently emerged as one of the hottest new items on the art market—artists, auction houses, museums, sports organizations and others have jumped at the chance to create and sell their own versions of these unique tokens. Damon Dash. Miramax LLC v.
In this post , Adyasha analyses the Cinematograph (Amendment) Bill 2021 (‘Bill’) which seeks ‘ to tackle the menace of film piracy ’, and is a revision of the Cinematograph (Amendment) Bill 2019. She highlights that the emphasis is on investing only in royalty revenue and not buying the artist’s rights or retaining control over their work.
One recent case gives some indication on how the English courts are responding in a dispute about trading blockchain-based non-fungibletokens (NFTs) between a trading platform and its user ( Soleymani v Nifty Gateway LLC [2022] EWHC 773 (Comm) ). 100 winners of one NFT auction .
Recently, a new trend of merging of blockchain technology with creative intellectual property via non-fungibletokens (“NFTs”) had taken place. The idea has spread across all market sectors, and now luxury fashion retailers have joined the tokenization bandwagon. Introduction. What are NFTs?
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