Traverse Legal Blog

OCTOBER 20, 2022

Non fungible tokens (NFTs) , the latest vehicle for capturing, linking to and licensing intellectual property. NFTs are being used in all forms of entertainment, gaming, art and science. Connect with us on LinkedIn- [link] The post Fair Use Clauses & Non Fungible Tokens first appeared on Traverse Legal.

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IP and Legal Filings

SEPTEMBER 30, 2022

Concerns have been expressed regarding the legal status and the authenticity of such tokens, especially in India. Although, as mentioned above, NFTs are a shot to ascertain “ownership” of a virtual asset, owning an NFT does not necessarily entail ownership of the work of art represented by the NFT. Image source:Gettyimage].

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LexBlog IP

JULY 6, 2021

The recent US$69 million sale of an “NFT” by digital artist Beeple in March 2021 generated considerable attention, both within and outside the realm of art. NFTs are digitally unique “non-fungible tokens,” based on block chain technology, that are used to manage the IP rights of artists in underlying works.

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JD Supra Law

SEPTEMBER 17, 2021

Non-Fungible Tokens (NFTs) are the latest development in disruptive blockchain technology innovations, this time in the world of digital art, collectibles, and even luxury goods.

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JD Supra Law

NOVEMBER 14, 2023

million in damages for copying Bored Ape’s Non-Fungible Token (NFT) art. A federal district court judge has ordered a conceptual artist and his partner to pay more than $1.5 Plaintiff Yuga Labs, Inc. By: AEON Law

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JD Supra Law

FEBRUARY 20, 2024

Enter the metaverse: an online virtual world where users can interact with each other and digital objects including Non-Fungible Tokens (NFTs). NFTs are unique digital assets depicting works of art, photographs, text, and/or other digital content, minted using blockchain to identify an interest in a certain asset.

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JD Supra Law

APRIL 19, 2022

Overview Non-Fungible Tokens (NFTs) continue to generate significant commercial value for brands through the licensing or transfer of intellectual property and commercial rights. This is part 4 of our IP Update series exploring the evolving landscape for Internet, Digital Media and e-Commerce. By: Smart & Biggar

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IP Law 360

JANUARY 24, 2022

An art collector who purchased a painting by Indian artist M.F. Husain has told a New York federal court he's been threatened with copyright infringement claims from the artist's estate over plans to sell non-fungible tokens based on the vivid 60-foot mural.

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JD Supra Law

DECEMBER 10, 2021

NFT's have reignited and expanded the market for digital art. When Hollywood director Quentin Tarantino tried to create an NFT project using intellectual property owned by the studio, the reaction from the execs was less than enthusiastic. By: Jaburg Wilk

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IP Law 360

FEBRUARY 5, 2024

Hermès urged the Second Circuit on Friday to ignore arguments on appeal by the non-fungible token creator found liable for ripping off the luxury goods company's Birkin bag that the jury's ruling on intent improperly ignored free-speech art rights.

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IPilogue

JUNE 13, 2022

Still, the straightforward process for creating non-fungible tokens (NFT) has accelerated the theft of digital art. However, since art is a cultural tool and an economic driver, those who create work should be protected by all invested stakeholders.

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IP Law 360

FEBRUARY 6, 2023

A Manhattan federal jury deliberated infringement claims Monday against a California designer who argues his "MetaBirkin" non-fungible tokens are artistic expression shielded from trademark liability by the First Amendment despite obvious similarities to Hermes International's Birkin handbags.

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IPilogue

SEPTEMBER 16, 2022

On July 18 th , 2022, the world’s second-largest art auction house, Christie’s, announced the establishment of Christie’s Ventures , an investment fund that will support emerging tech companies whose products could have an impact on the art market. The auction house was one of the first art institutions to arrange NFT sales.

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IP Law 360

FEBRUARY 7, 2023

A Manhattan federal judge instructed a jury mulling trademark claims against "MetaBirkin" maker Mason Rothschild to keep deliberating after jurors hinted Tuesday they see both infringement and artistic expression in the California designer's non-fungible tokens that resemble Hermes International's Birkin handbags.

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JD Supra Law

FEBRUARY 13, 2023

In a case with clear implications for non-fungible token art-based projects, a federal jury in the case of Hermès International, et al. Mason Rothschild, 1:22-cv-00384 (SDNY), found in favor of fashion brand Hermès in its lawsuit concerning digital artwork consisting of images of Hermès’ Birkin handbag.

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IP Watchdog

JUNE 30, 2022

There are not many trademark cases that are of equal interest to high fashion, the art world and cutting-edge tech. The ongoing “MetaBirkin” lawsuit is unusual, however, in that it involves a designer brand and two of the latest, trending topics – non-fungible tokens (NFTs) and the metaverse.

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JD Supra Law

NOVEMBER 9, 2021

What do fast food, art, and sports have in common? In recent years, companies in each of these industries have embraced a technology known as non-fungible tokens, or NFTs. By: Vinson & Elkins LLP

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IP Law 360

JANUARY 5, 2023

As the non-fungible token market evolves rapidly, attorneys should be familiar with three types of legal instruments used to convey rights in NFT transactions, including agreements between the artist of the underlying artwork and the NFT creator, says Hannah Ji-Otto at Baker Donelson.

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IP Whiteboard

JUNE 7, 2021

NFT stands for non-fungible token. Non-fungible basically means unique. By way of comparison, a $10 note is an example of a fungible asset, because it can be replaced with another $10 note, or two $5 notes. Until now, the sale of digital art has been a difficult proposition. We’re glad you asked.

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JD Supra Law

FEBRUARY 16, 2022

Hermes recently sued a digital artist for knocking off its Birkin handbag through the issuance of MetaBirkin non-fungible tokens (“NFT”). For those not aware of the filing or related media attention, the artist created fuzzy images of the Hermes Birkin handbag and minted them as NFTs. By: International Lawyers Network

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The IPKat

JULY 14, 2022

A comment to the EUIPO Guidance on NFTs by Paolo Maria Gangi As The IPKat reported a few days ago here , the European Intellectual Property Office (EUIPO) has recently released some guidance notes on its approach to the classification of non-fungible tokens (NFTs). All this is at odds with the understanding of NFTs as property.

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JD Supra Law

JUNE 29, 2022

From ownership to expression to revenue, it’s no secret that non-fungible tokens (NFTs) have made a significant impact on the art world in the last 18 months.

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JD Supra Law

DECEMBER 19, 2022

The metaverse and non-fungible tokens (NFTs) may come with a perception of being used solely for entertainment and frivolity, but the technologies are more than videogames and multi-million-dollar art pieces.

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JD Supra Law

AUGUST 24, 2022

With the proliferation of non-fungible tokens (“NFTs”), particularly in the art space, an interesting and potentially groundbreaking practice has developed where certain intellectual property (“IP”) pertaining to the NFTs is licensed to the NFT buyers and their subsequent transferees.

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JD Supra Law

APRIL 13, 2022

And, in early 2021, the artist Beeple shattered records when the digital art piece Everydays - The First 500 Days sold, as a non-fungible token (NFT), at Christie’s for a whopping $69 million in Ethereum cryptocurrency. In 2020, the cryptocurrency market was valued at $1.49 By: Venable LLP

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JD Supra Law

APRIL 12, 2022

Last month, our post about art NFTs and the DMCA highlighted the distinction between non-fungible tokens and the copyrighted works they represent.

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Intepat

SEPTEMBER 15, 2023

Introduction In the ever-evolving intersection of technology and creativity, a groundbreaking revolution is underway – AI-generated art. This blog post embarks on a comprehensive journey to unravel the complex issue of copyright ownership in AI-generated art.

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IP Law 360

JANUARY 30, 2023

An expert on Andy Warhol's art will not be permitted to testify at trial on behalf of a Los Angeles designer whose "Metabirkins" non-fungible tokens are alleged by luxury brand Hermes International to infringe trademarks protecting its pricey Birkin handbags, Manhattan U.S. District Judge Jed S. Rakoff held Monday.

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IP Law 360

JUNE 27, 2022

A self-styled conceptual artist is copying and reselling images that are part of the Bored Ape Yacht Club non-fungible token collection, the company behind the trendy digital art series told a California federal court.

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SpicyIP

MAY 18, 2022

Class 9: Virtual two wheelers; virtual motorcycles; virtual scooters; virtual three wheelers; virtual electric vehicles; virtual gaming studio, virtual gaming parlour, downloadable multimedia files containing artwork, text, audio and video files and non-fungible tokens. Application date. Description (shortened). Feb 25, 2022.

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IP Law 360

MARCH 4, 2022

This past week in London has seen an art collector sue a marketplace for non-fungible tokens, a British rap trio do battle with their manager, and two DIY stores throw the kitchen sink at each other over designs. Here, Law360 looks at those and other new claims in the U.K.

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JD Supra Law

FEBRUARY 23, 2022

2021 was a banner year for non-fungible token sales, which are projected to climb even higher in 2022. Selected by Collins English Dictionary as the 2021 Word of the Year, non-fungible tokens (NFTs) are unique blockchain-based digital assets that are associated with images, artwork, videos, games, or other creative content.

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The IPKat

MAY 3, 2022

We’ve had Decentraland’s ‘ Metaverse Fashion Week ’, where attendees could buy wearable NFTs (Non Fungible Tokens, non-interchangeable digital assets stored on a blockchain), PrettyLittleThing’s first virtual model (launched to a mixed reaction), and the entry of Shiba Inu coin ('SHIB' – an alternative to Dogecoin) into the Metaverse.

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Traverse Legal Blog

OCTOBER 20, 2022

Whether you are looking to make your own non fungible token to sell or you’re looking to buy an NFT as an investment, you need to be aware of copyright and trademark laws that might apply to your NFT. Are NFTs (Non Fungible Tokens) Considered Intellectual Property? What is a Non Fungible Token?

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JD Supra Law

NOVEMBER 19, 2021

Hollywood film studio Miramax recently filed a lawsuit against director Quentin Tarantino and others over his plans to auction off non-fungible tokens (NFTs) based on the 1994 film, Pulp Fiction. By: Ingram Yuzek Gainen Carroll & Bertolotti, LLP

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Chicago-Kent Intellectual Property Journal Blog

FEBRUARY 9, 2022

NFT Marketplaces and the DMCA Safe Harbors Sarah Law | February 9, 2022 Introduction: With the creation of bitcoin and the expansion of digital art on the internet, non-fungible tokens (NFTs) have quickly risen to the center of attention for many people.

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The IPKat

AUGUST 29, 2022

Few issues in the world of intangible rights contain as many legal uncertainties as do non-fungible tokens. Non-Fungible Tokens (NFTs), ranging from art and literature to fashion and cinema, remain among the hottest legal topics in the world of intangible rights, despite the lack of clear legal regulation.

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