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Interestingly enough, copyrights play a pivotal role in the NFT market. The copyrights that subsist on an NFT are also governed with the help of a smart contract. Copyright that subsists on a digital artifact is not transferred to the buyer upon purchase unless a specific clause that states otherwise is inserted.
Due to the recurrent copyright difficulties, which have a significant impact on an individual’s business interest, it is imperative to preserve the ownership rights of digital works. One such area where copyright violations are common is the internet. iii] NFTs are limited to having a single owner.
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