Remove Due Diligence Remove Non-Fungible Tokens Remove Ownership
article thumbnail

NFT Copyright License Rights: Due Diligence is Critical.

Traverse Legal Blog

With that in mind, we now have something called non-fungible tokens or NFTs. Top marketing places include: OpenSea – Built on ERC-721 and ERC-1551 non-fungible token standards – the largest marketplace for creator-owned digital goods – easy onboarding experience for new users – create your own storefront.

article thumbnail

Blurred Lines: How the Lack of Regulation of NFT Platforms Has Fueled Rampant Art Theft

IPilogue

Still, the straightforward process for creating non-fungible tokens (NFT) has accelerated the theft of digital art. Many NFT marketplaces do not require the person listing the piece to provide proof of ownership or personal information.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fatal Mistakes Made By The ‘Bored Ape Yacht Club’ & ‘Crypto Punks’ NFT Projects

Traverse Legal Blog

Today, we’re going to talk about non-fungible tokens (NFTs). Due diligence is critical. BASIC project’s listing agreement is internally inconsistent on the issue of ownership. My name is NFT lawyer Enrico Schaefer. I am an attorney specializing in blockchain technology.

article thumbnail

NFTs: promisingly transformational, yet fraught with IP pitfalls – Part I

Kluwer Copyright Blog

Image by Tumisu via Pixabay Non-fungible tokens (NFTs) are altering society’s notion of digital ‘ownership’ and redefining the common perspective on distribution of original works to consumers by introducing scarcity to the digital realm.

article thumbnail

“For Sale: This Article”: an overview of non-fungible tokens (NFTs) and IP

IP Whiteboard

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. And what role does intellectual property ( IP ) play in their creation and sale? What are NFTs?

article thumbnail

Trade Marks in the Virtual World: Is your Business Well Meta-Versed in Emerging Technology?

LexBlog IP

Introduction Digital technologies such as the metaverse, non-fungible tokens ( NFTs ), blockchain and augmented realities are directly influencing how we cultivate and protect various forms of intellectual property, including trade marks. physical) marks.

article thumbnail

U.S. Treasury Study Rejects Immediate Need for New Regulation of Art Market

LexBlog IP

AML/CFT regime related to beneficial ownership, real estate, and investment advisers and nonfinancial gatekeepers before turning its attention to the high-value art market.” where due diligence requirements are rarely implemented and transactions occur without the interference of art market professionals. ” [26]. .”

Art 52