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

Tarantino Asks Court to Dismiss Miramax’s ‘Pulp Fiction’ NFT Lawsuit

TorrentFreak

The popularity of non-fungible tokens, NFTs for short, has reached new highs over the past year. Movie studio Miramax, which owns most of the rights to the film, sees the plan as a contract breach and copyright infringement. “The Film is a derivative work created from the Screenplay, not the other way around.

Insiders

Sign Up for our Newsletter

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

article thumbnail

A Brief Thematic Review of Non-Fungible Tokens and their Copyright

IP and Legal Filings

Parallel to this, Non-Fungible Tokens, often known as NFTs, have seen tremendous growth as more and more people enter the market. The fact that it cannot be duplicated by another token due to its unique ID is a noteworthy feature. NFTs are governed by smart contracts, which divide ownership and limit transferability.

article thumbnail

[Guest post] BAYC sues Ryder Ripps over unauthorized minting of NFTs

The IPKat

NFTs – still subject to “old” IP law An NFT is a non-fungible (i.e. unique) and not divisible “token” (unlike cryptocurrencies like Bitcoin or Ether, which are instead fungible and divisible tokens) “minted” (i.e. A digital file (an artwork, a song, etc.), Yuga Labs, therefore, still owns the copyright in each NFT.

article thumbnail

Buying an NFT? You are not buying what you think.

Traverse Legal Blog

Today, we will be talking about NFT non-fungible token licensing. The token goes onto the blockchain, indicating ownership rights and potentially royalty rights for future transfers of the NFT, but not the underlying digital asset. The NFT is a smart contract coded with the NFT. the Bored Ape or CryptoPunk).

article thumbnail

NFTs: New Frontiers for Trademarks

IP Tech Blog

Intellectual property owners need to add the metaverse to places to watch for possible infringement, specifically, trademark or copyright infringement in the form of NFTs or non-fungible tokens. So from our perspective, NFTs stands not only for “non-fungible tokens” but also “New Frontiers for Trademarks.”.

article thumbnail

The Battle Over Poker NFTs

Plagiarism Today

On September 23, the art site PokerPaint announced on their Twitter (Tweet now deleted) that they were releasing a series of Non-Fungible Tokens (NFTs) on OpenSea. ” The case raises questions of fair use and whether the new paintings were transformative enough to be non-infringing or if they were simply derivative works.

Fair Use 230