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Non-fungible Tokens: Commercializing Exclusive Digital Art- A Companion Piece

IPilogue

In May 2021, a phenomenal IPilogue submission by Keir Strickland-Murphy (Osgoode Law ‘22) touched on the recent boom of Non- fungible Tokens. In this piece, I will recapitulate Strickland- Murphy’s exploration of IP ownership of Non-fungible Tokens and expand on recent developments since May.

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Copyright Laws & Trademark Infringement for NFTs

Traverse Legal Blog

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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First preliminary injunction issued by a court in Turkey regarding NFTs

The IPKat

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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Can We Reexamine the Role of Blockchain in Copyright Now?

Plagiarism Today

To be clear, this isn’t the first time blockchain and crypto promised that they would make artists’ lives easier or open up new opportunities, only to fail completely. NFTs (Non-Fungible Tokens), for example, were originally billed as a way for digital artists to create scarcity and enable them to charge more for “unique” works.

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NFTs and Copyright: Some Burning Issues

Kluwer Copyright Blog

The last couple of years has seen the emergence of Non-Fungible Tokens (NFTs) as an important medium for the creation, sale and collection of art, with numerous instances of big money purchases of NFTs. The emergence of NFTs has been disruptive to the world of art. Image by Riki32 via Pixabay. Conclusion.

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IP infringement in Metaverse

IIPRD

As recently in 2022 Hermès, a fashion house sued Manson an NFT (non-fungible token) creator for trademark infringement who marketed a digital asset called “Metabirkins”, which was a digital copy of a bag created by Hermès, which sold at many high prices. This right is given to literary and artistic work like music, etc.

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Fashion In The Metaverse : The Law And Protection

IP and Legal Filings

Interestingly, StockX contends that it is not selling the NFT as digital art but rather as a “claim ticket” to the authentic Nike sneakers that the brand sells and holds in its facilities. The “MetaBirkins” have made roughly $450,000 so far, with the average selling price of these digital bags being around $3,000.

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