CONSIDERATIONS FOR NFTS

To comprehend the legal implications, it's important to grasp the basics of NFTs. Non-Fungible Tokens represent ownership or proof of authenticity of a specific digital asset using blockchain technology. Unlike cryptocurrencies, NFTs are unique and indivisible, making them ideal for representing one-of-a-kind items in the digital realm. Each NFT contains metadata that verifies its origin, ownership, and transaction history, providing a transparent and immutable record... Ownership of NFTs: Acquiring an NFT does not automatically confer ownership of the underlying copyright. Artists and creators should explicitly define the rights associated with the NFT and specify whether the copyright is included in the transaction... Brand Association: NFTs associated with well-known brands or trademarks can potentially create confusion or dilute the distinctiveness of the mark. Brand owners should be vigilant in monitoring the use of their trademarks within the NFT space and take appropriate..