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Cryptocurrencies are significantly relevant in several IP-intensive industries such as music, pharmaceutical, automotive, and luxury goods. Trademarking of cryptocurrencies is yet another aspect that links IP to the crypto market. The NFT space also serves as a breeding ground for copyfraud and copyright infringement.
IP owners must plan and safeguard their unique creation from any prospective infringements because NFTs have a distinguishing trait. [ii] vii] NFTs are prone to “copyfraud” and other violations of the moral rights of the inventor. It is possible for someone to print the NFT while posing as the author of the piece.
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