Traverse Legal Blog

APRIL 1, 2021

Should you hire a lawyer to work with you if you are selling or buying an NFT and licensing the associated digital art? A non-fungible token allows you to put a smart contract onto the blockchain that is unique unto itself. Different types of information can be stored on a blockchain including ledger information and smart contracts.

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The IPKat

SEPTEMBER 5, 2022

The NFT art market, that is NFTs which specifically link an artwork or a digital file (a song, for example), have already gone mainstream and, of course, artists and projects owners have asked lawyers to prepare IP licenses to protect their IP. Let alone was it clear how to protect the IP rights in the artwork linked to it.

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Licensing Non-Fungible Tokens Artwork Contracts 95

SpicyIP

MAY 18, 2022

Hermes has sued a Californian artist, Mason Rothschild, for his “MetaBirkins” digital artworks alleging trademark infringement. In the US too, several companies are protecting their trademarks for similar goods and services. TOMMY JEANS. March 4, 2022. Dec 21, 2021.

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IPilogue

OCTOBER 7, 2022

In an address to a parliamentary committee in 2016 , Rankin Inlet-based artist Theresie Tungilik noted that “[the] artist’s resale right will have a positive financial impact as 10% of Canada’s export is Inuit art.”. Inuit Art Foundation’s website. Not all Canadian galleries oppose ARRs.

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Intepat

DECEMBER 5, 2024

Copyright and Ownership in the Metaverse In the metaverse, copyright applies to digital creations such as virtual art, music, designs, and even entire virtual worlds. Smart contracts embedded within NFTs, for example, cannot always prevent unauthorized copying or redistribution of the underlying digital assets.

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Kluwer Copyright Blog

JUNE 19, 2023

Nevertheless , tokens may be used in a digital rights management scheme, as the aforementioned default position is subject to contract modification, as explained below. Copyright that is transferred upon selling an NFT may explicitly be outlined in the self-executing smart contract governing the sale.

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The IPKat

JUNE 13, 2022

Digital assets can be protected by IP and have always been capable of being licensed or assigned via a contract, or protected as a trade mark. I am of the view that the copyright artist resale right should also apply to NFT digital art, meaning that when it is resold the original seller receives a percentage of the subsequent sale.

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The IPKat

JULY 14, 2022

In all these instances, what has been considered as “legal property” is the token generated through the smart contract and not the digital file linked (or “authenticated”, to refer to the EUIPO’s own wording) to it. All this is at odds with the understanding of NFTs as property.

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Kluwer Copyright Blog

MARCH 19, 2024

The Kurasov image is available here: Kurasov Tackling the blurred lines between counterfeiting and ingenuity in the art world is certainly not an easy endeavor. The former had contracted with Wali’s studio to redesign the station murals as part of an initiative to promote Egyptian civilization, heritage and culture.

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Copyright Lately

NOVEMBER 21, 2021

Fundamentally, an NFT is just a transactional record and a link to a digital asset (often an image of artwork or a document) stored somewhere on the web. Is the sale of a single work of original art considered to be a publication? The NFT isn’t the image. It typically doesn’t even store the image. American Lithographic Co.

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Copying Non-Fungible Tokens Contracts Copyright 129

LexBlog IP

APRIL 15, 2022

When Christie’s Auction House first entered the secondary art market of mainland China in 2005, it licensed its brand to a local auction house and received a total of RMB 97,000,000 (roughly $12,100,000) for its inaugural sale. [1] A relaxed regulatory environment helps explain the enormous growth of the Chinese art market.

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Copyright Lately

MAY 6, 2022

NFTs were minted Money was advanced The underlying contracts Never got a glance Dreams of exploitation From Florida to France But no rights were acquired The kids don’t stand a chance. — “The Kids Don’t Stand a Chance, Aaron’s Version” ( with apologies to Vampire Weekend ). Definitely.

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The IPKat

JANUARY 18, 2023

In particular, it stands out a concept which is frequently neglected when NFTs are explained: the link to the image, i.e., the artwork, is not contained in the smart contract (the piece of software written in Solidity programming language which generates an NFT) but in a JSON file (“JavaScript Object Notation”) which contains the NFT’s metadata.

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IP and Legal Filings

JANUARY 23, 2023

Such works of art benefit the creator, and they are protected by the law of intellectual property. NFTs are governed by smart contracts, which divide ownership and limit transferability. Blockchain technology allows smart contracts to operate, ensuring the integrity of all sent and received data. [iv]

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Non-Fungible Tokens Copyright Intellectual Property Ownership 98

LexBlog IP

APRIL 25, 2022

On February 4, 2022, the Treasury Department published its Study on the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art (the “Report”). [1] Yet the Report also discussed how the art market remains susceptible to money laundering and describes how market participants can minimize this risk.

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Kluwer Copyright Blog

MARCH 19, 2024

The Kurasov image is available here: Kurasov Tackling the blurred lines between counterfeiting and ingenuity in the art world is certainly not an easy endeavor. The former had contracted with Wali’s studio to redesign the station murals as part of an initiative to promote Egyptian civilization, heritage and culture.

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Art Plagiarism Artwork Graphic Design 52

Technology & Marketing Law Blog

MARCH 5, 2024

These defense-favorable outcomes may work in the short term; but they leave open the potential liability of the contracting vendors (which may drive them out of the industry, leaving the marketing agent with no one to outsource to) and as well as the marketing agent’s possible secondary liability exposure for the vendors’ activities.

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Artwork Trademark Publishing Marketing 119

The IPKat

JULY 9, 2023

An Oral History of Creative Processes in Street Art and Graffiti Subcultures ”, authored by Enrico Bonadio (City University of London). As its title suggests, this book focuses on the relationship between US copyright law and street art and graffiti. Chapter 3 is entitled "Copyright within the street art and graffiti circles".

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Art Copyright Moral Rights Cease and Desist 59

Art Law Journal

AUGUST 18, 2022

One of the most frequently asked questions intellectual property lawyers hear from members of the art community is, “When should I use a model release form, and what should it say?” Artistic use is not generally considered a commercial purpose, even if the artist is making money from it, such as if the works are on sale at an art gallery.

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IP and Legal Filings

OCTOBER 19, 2022

The unawareness of parties on sale platform and freedom to set prices as one wishes may turn the high-value art to be an object for money laundering. Forms of digital media or virtual artworks are traded among NFT traders in the current NFT market practice, frequently for astronomically high prices.

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Artwork Copying Contracts Copyright 90

LexBlog IP

FEBRUARY 21, 2022

High-profile art NFT projects include those by artist Beeple , who sold his digital art NFT for a record-breaking $69 million, and CryptoPunks , and The Bored Ape Yacht Club , which are NFT collections commonly used as profile pictures and confer other social benefits. .”

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The IPKat

MAY 3, 2022

Adidas and Prada recently launched Adidas : Prada, Re-Source , a collaborative NFT art project. Brands are taking advantage of the increased consumer engagement by launching projects such as Nike’s Nikeland and Balenciaga’s ‘ Afterworld ’. Online presence has never been more important. ESRT Empire State Building, L.L.C.

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IP and Legal Filings

SEPTEMBER 8, 2021

NFTs may be represented in the form of memes, artworks, or videos. NFTs are digital assets that are represented by art, memes, collectible videos, and music pieces. Smart contracts are contracts that are used to regulate NFT transactions. The sole technology behind cryptocurrencies is called blockchain technology.

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Intellectual Property Non-Fungible Tokens Copyfraud Contracts 94

Art Law Journal

JANUARY 28, 2021

Artists and collectors can minimize estate taxes on artworks by employing a planning strategy and understanding the complexities involved with assessing the work's fair market value. The post Estate Planning for Artists and Collectors appeared first on Art Business Journal.

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IP and Legal Filings

NOVEMBER 18, 2021

Non-Fungible Tokens or NFTs is the latest trend that has taken the world of art and technology by storm. NFTs revolutionised the concept of ownership and digital art. Many aspiring artists have now started converting their physical and digital artworks into NFTs and putting it up for sale, with many making considerable profits.

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LexBlog IP

OCTOBER 18, 2023

A September 27, 2023 decision by a Manhattan trial court, Aicon Art LLC v. 27, 2023), involving a dispute between two businesses located in the same art gallery, serves as a reminder to New York art market participants to take care to avoid attorney conflicts of interest. Aicon Contemporary LLC , No. 650580/2023, 2023 N.Y.

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Copyright Lately

FEBRUARY 6, 2022

People probably aren’t aware, but Spotify just as an example, has been involved in dozens and dozens of rights disagreements with rightsholders, be it on not only songwriting but also the master rights and even also artwork rights. So there’s a lot of nuances out there.

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Music Artwork Social Media Intellectual Property 98

Traverse Legal Blog

JANUARY 29, 2022

If you’re selling a digital rendition of a piece of artwork, you will mint an NFT, which will then attach to that particular piece of digital art. The NFT will link to what the owner is licensing: the actual digital work, the piece of artwork, the image, the video, the audio file, etc. BlockChains and Digital Assets.

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Licensing Non-Fungible Tokens Copyright Copying 102

Art Law Journal

JANUARY 28, 2021

Artists and collectors can minimize estate taxes on artworks by employing a planning strategy and understanding the complexities involved with assessing the work's fair market value. Nicole Martinez.

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Artwork Marketing Marketing Art Law 52

LexBlog IP

SEPTEMBER 23, 2022

Whether you plan to start up an interior design business or you are already a seasoned interior designer, having clear terms on charges for art, furniture, finishings, fixtures, and other decorative items (sometimes generally referred to as “FF&E” for convenience), will avoid problems in the future. In the U.S.

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IP and Legal Filings

SEPTEMBER 30, 2022

they’reThey’re issued on these assets using blockchain technology and smart contracts, which generate unique digital signatures and establish their security. Some consider NFTs to be contracts, while others consider them to be derivatives. Security Law. As a result, there’s no categorization of NFTs under the SCRA.

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Non-Fungible Tokens Ownership Contracts Copyright 52

Herbert Smith Freehills

JULY 6, 2022

Mr S, an art collector in Liverpool, was an active user of US-based NFT trading platform Nifty. In April and May 2021, Mr S participated in an auction of digital art held by Nifty, placing a bid for an NFT associated with an artwork by Beeple titled "Abundance". In Nifty's auction, one piece of artwork was linked to 100 NFTs.

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Artwork Non-Fungible Tokens Business Contracts 52

LexBlog IP

MARCH 16, 2023

Plaintiffs’ Allegations that Moments are an “Investment Contract” and Should Have Been Registered The Amended Complaint in Friel makes allegations that would be run-of-the-mill in cases involving the buying and selling of stocks, but seeks to chart new territory for NFTs: that they were improperly sold as unregistered securities.

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IPilogue

MARCH 1, 2022

Not asking someone if you can share their comic about depression before reposting it to your tens or hundreds of thousands of followers is irresponsible and can read as disrespectful of the time the illustrator put into the original artwork.” ” E: What has your experience been like collaborating with other makers?

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LexBlog IP

SEPTEMBER 15, 2022

They are sold and/or traded in connection with “smart contracts” that govern the terms of transfer. In this case, beyond pure IP issues, the parties disagree over interpretation of Tarantino’s original contract with Miramax, in which he reserved all rights for print publication of the screenplay (including in digital form).

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LexBlog IP

APRIL 13, 2022

As previously reported on this blog , non-fungible tokens (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. Copyright Claims: Roc-A-Fella Records Inc.

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IP Tech Blog

MARCH 18, 2022

NFTs can be based on three-dimensional items or artwork, or can be purely digital creations—for example, a collectable digital sneaker or a token used in a videogame. The brief further argued that the term METABIRKINS refers both “to the context in which he makes the art available (i.e.,

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