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

Creative Commons and NFTs – is CC licensing compatible with the new technologies?

Kluwer Copyright Blog

NFTs (non-fungible tokens) have become a buzzword in recent years. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded ”. Crucially, the ownership of an NFT does not equate to ownership of an underlying asset.

Licensing 110
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

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. Parallel to this, Non-Fungible Tokens, often known as NFTs, have seen tremendous growth as more and more people enter the market.

article thumbnail

IP Protection of NFTs: A Comparative Look at the US and China

IP Tech Blog

The emergence of blockchain-supported Non-Fungible Tokens (NFTs) has captured the interest of the entertainment and business worlds in the past couple of years. It starts with the Chinese translation of Non-Fungible Tokens. Ownership and Enforcement. Copyright Ownership. The United States.

IP 109
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. NFT are ERC-721 tokens. 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 right to create derivative works.

article thumbnail

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

The IPKat

Consequently, the definition of NFTs as “certificate of authenticity” or “certificate of ownership” is not accurate. Yuga Labs, therefore, still owns the copyright in each NFT. All this implies the idea that, in the world of NFTs, the IP rights in the digital file are of secondary importance if not outright meaningless.

article thumbnail

Licensing NFTs: You Need to Know Who Owns What You’re Selling

Traverse Legal Blog

Today we are going to talk about NFTs or non-fungible tokens. The person who buys that NFT becomes the owner, and they can transfer ownership later, and that person becomes the new owner, and so on” -Enrico Schaefer, NFT Attorney. OpenSea states that the copyright owner of the works shall remain the copyright owner.

Licensing 102