State of Crypto: It’s Time to Talk About NFTs and Intellectual Property Law -
"NFTs are all the rage right now, but buyers and sellers should be aware of the different regulatory frameworks that might govern these assets."
Why this is important: NFTs are a hot topic in the world of digital art. A primary question is: Who owns the copyright to the art that is the subject of the NFT? Outside express agreement to the contrary, the copyright will stay with the NFT creator: the artist. The digital nature of the art underpinning the NFT makes duplication extremely easy and a potential minefield for both the artist and the NFT owner. If the artist/NFT creator retains the copyright, the NFT owner owns the art and has the right to display the art, but not to copy or duplicate. With physical art, it is easy to determine if the right to copy and duplicate for commercial reasons is needed; therefore requiring purchase or license of the copyright as well as ownership of the art.
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