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Blockchain Art

Pillsbury - Internet & Social Media Law Blog

NFT Contracting in a Volatile New Market

The non-fungible token (NFT) market has grown dramatically over the past 24 months. NFTs first garnered widespread attention when the artist Beeple sold digital artwork at Christie’s in March 2021 for $69 million. According...more

The Rodman Law Group, LLC

NFTs & The Greater Fool Theory – Are They Related?

With NFTs becoming such a thriving sector of cryptocurrencies, some big-name billionaires disagree whether NFTs are worth all the hype they receive. In a recent interview, Bill Gates mentioned how he is not a fan of...more

Carlton Fields

NFT Perspectives: A Discussion With Artist and Filmmaker Haik Kocharian

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From ownership to expression to revenue, it’s no secret that non-fungible tokens (NFTs) have made a significant impact on the art world in the last 18 months. Join Carlton Fields crypto attorney Matt Kohen as he discusses the...more

Robinson+Cole Data Privacy + Security Insider

“Well frens, it happened to me;” Actor’s Stolen NFTs Highlight Uncertainties for NFT Artwork

Actor and comedian Seth Green, best known for creating Robot Chicken and portraying Dr. Evil’s son in the Austin Powers franchise, announced on Twitter last month that phishers stole his four “Bored Ape” NFTs. Let’s break...more

Tonkon Torp LLP

Can Some NFTs be Considered Securities? The SEC Is Watching

Tonkon Torp LLP on

The U.S. Securities and Exchange Commission (SEC) is ramping up its investigation and potential enforcement activities against sellers of nonfungible tokens (NFTs) and marketplaces that connect buyers and sellers. Regulators...more

Proskauer - Blockchain and the Law

Will NFT Piracy Compel Changes to the Digital Millennium Copyright Act?

So you bought an NFT. You now own what is effectively an immutable electronic deed meant to record ownership of an asset, often a digital artwork. You probably paid for the NFT upfront—and if the artist is popular, you may...more

Sheppard Mullin Richter & Hampton LLP

Money Laundering and High-Value Art: Treasury’s Study Discusses Financial Crimes and NFTs

With the advent of blockchain technology, vendors are increasingly accepting payments of goods, including artwork, with digital currency. The decentralized nature of digital currency makes it attractive for a lot of reasons,...more

Rivkin Radler LLP

Taxing NFTs as an Investment in “Art”

Rivkin Radler LLP on

Segue- Earlier this month, the Treasury released a study in which it examined how transactions in “high-value art” may facilitate the laundering of illicit proceeds.[i] The study also considered efforts that be undertaken by...more

Morgan Lewis

NFTs: What's in Store for 2022?

Morgan Lewis on

2021 was a banner year for non-fungible token sales, which are projected to climb even higher in 2022. Selected by Collins English Dictionary as the 2021 Word of the Year, non-fungible tokens (NFTs) are unique...more

Morgan Lewis

NFTs in Singapore: A Good Bet on the Metaverse, or a Bubble Waiting to Burst?

Morgan Lewis on

This past year has seen widespread excitement about non-fungible tokens (NFTs), with a plethora of players ranging from newspaper agencies to celebrities releasing their own NFTs. NFTs can take the form of songs, tweets,...more

Mintz - Intellectual Property Viewpoints

Quentin Tarantino’s Secret NFTs

Quentin Tarantino recently announced plans to auction off seven scenes from the 1994 motion picture Pulp Fiction as non-fungible tokens or NFTs. These “Tarantino NFTs” will include a collection of high-resolution digital...more

Smart & Biggar

Art meets crypto – traditional copyright issues in a tokenized world

Smart & Biggar on

Non-Fungible Tokens (NFTs) are the latest development in disruptive blockchain technology innovations, this time in the world of digital art, collectibles, and even luxury goods. Traditional auction houses have already...more

Latham & Watkins LLP

NFTs and the Right of Publicity: Assessing the Legal Risks

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NFT creators should craft strategies to avoid minting or auctioning NFTs that use the likeness of an individual without their consent. As non-fungible tokens (NFTs) increase in popularity, the so-called common law “right of...more

Pillsbury - Internet & Social Media Law Blog

A NFT Primer on Potential IP Ownership Legal Issues

Carolyn Toto recently joined host Joel Simon on his Industry Insights podcast continue the discussion of non-fungible tokens, related IP ownership issues and more. Joel Simon: Our discussion today is part of a series on...more

BakerHostetler

Regulator Seeks Comments on DeFi; Crypto Firms Announce Products, Licenses, DAO Application Updates; NFT Boom Continues; OFAC Adds...

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NCUA Seeks Comment on DeFi, Crypto Firms Launch Products, Gain Licenses - The National Credit Union Administration (NCUA), a federal agency that charters and regulates federal credit unions, recently published a notice of...more

Haug Partners LLP

Valuation of NFTs: Factors to Consider and an Alternative to Destroying the Original Work

Haug Partners LLP on

Seven Important Traits - Attempting to value NFTs is a speculative and challenging practice, in part because they are still relatively new and there are few comparable assets. The newsletter Bankless gives seven traits to...more

BakerHostetler

Digital Art: Collectible or Security?

BakerHostetler on

Fractionalized non-fungible tokens (NFTs) have become increasingly popular within the ever-developing field of cryptocurrency, particularly in the distribution of digital art. NFTs use the same technology behind...more

Faegre Drinker Biddle & Reath LLP

ABCs of NFTs: A Bright Future for the Arts or Just a Flash in the Pan?

Ever since the artist known as Beeple1 sold an NFT of a digital collage for over $69 million at Christie’s mid-March 2021 auction, everyone in the art world — and in other communities — has been talking about NFTs. Depending...more

Sheppard Mullin Richter & Hampton LLP

Nota Bene Episode 125: What are Non-Fungible Tokens (NFTs) and Are They Here to Stay? with James Gatto

When the artist Beeple recently sold a digital work of art for $69 million, it caught the world’s attention especially because that one-of-a-kind digital art was a non-fungible token (NFT). In this episode, we’re taking a...more

Skadden, Arps, Slate, Meagher & Flom LLP

Proliferation of NFT Transactions Raises Numerous US Tax Questions

Background on NFTs - With the market for nonfungible tokens (NFTs) exploding, NFTs attached to art, music, video clips, tweets and other digital collectibles have sold for significant sums: An NFT of an animated flying...more

Jones Day

NFTs: Key U.S. Legal Considerations for an Emerging Asset Class

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The Situation: Non-fungible tokens are an emerging digital asset class that present a unique set of commercial, regulatory, and other legal considerations. The Result: The current U.S. regulatory and legal framework is...more

Nelson Mullins Riley & Scarborough LLP

Sustainable Holdings Urges SEC to Provide Guidance on the Regulation of NFTs

A recent article by The New York Times - Manic Markets, Imploding Funds: Wall Street’s New Top Cop Has a Full Plate - discussed the potential areas of focus for Gary Gensler, the new Chairman of the U.S. Securities and...more

White & Case LLP

The Rise of NFTs – Opportunities and Legal Issues

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As we progress into 2021, the beat of the drum of the cryptocurrency and broader digital asset industry continues and, with it, has come the rise in popularity non-fungible tokens (NFTs). In the month leading up to the...more

Carlton Fields

Non-Fungible Tokens (NFTs) as Art Loan Collateral

Carlton Fields on

Digital art represented by NFTs (non-fungible tokens) made a spectacular arrival in March with the $69.3 million (in Ether) auction sale by Christie’s of a collage by digital artist Beeple. The buyer is founder of an NFT fund...more

Patterson Belknap Webb & Tyler LLP

Beeple, Top Shots, and the Blockchain of Collectibles: Securing the Value of an Original Digital Asset

A cryptocurrency entrepreneur recently paid $69.3 million for Beeple’s Everydays: The First 5,000 Days at a Christie’s auction.  That record-breaking price purchased a work of art that can be seen only on a computer and the...more

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