Neil Elan recently wrote about common legal issues arising with the increase in popularity of non-fungible tokens, or NFTs, for the National Law Review.
In the article, Neil provides general information about NFTs, notes that substantial NFT investments from leading brands suggest that future brands and IP will likely be digital and NFT-native, and points out common issues relating to licensing and rights of NFT holders, including the reality that subsequent purchasers of NFTs may not have the same rights of initial purchasers.
“As such, if a purchaser spends thousands of dollars on an NFT to use the image in the NFT to develop an apparel line, and the purchaser later learns that it cannot commercially exploit the image, the purchaser may not have recourse against the seller,” Neil shares.
Read the full article, entitled “Viewing NFTs Through a Legal Lens,” in the National Law Review.
