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Astoundingly an NFT of a digital artwork Everydays.
Non fungible token and copyright. Copyright issues 2 min read. Currently common NFTs are based on the ERC721 standard developed for the Ethereum blockchain for non-fungible tokens ERC stands for Ethereum Request for Comments. DJs like 3LAU and Steve Aoki have sold theirs for seven-figure sums.
This brings us to the second feature of NFTs. The massive adoption of non-fungible tokens NFTs into the blockchain society is a novel means for creators to reward their creativity. Generally the purchase of an NFT only grants the purchaser ownership of the specific copy or version of the work that the NFT represents.
As stated by copyright law expert Dr Andres Guadamuz an NFT is simply a cryptographically signed receipt that you own a unique version of a work. Why the sudden interest in. The First 5000 Days by Beeple was sold by the famous auction house.
August 23 2021 Maggie. Part I of this post introduced the recent emergence of Non-Fungible Tokens NFTs explained their basic characteristics and what they can represent. Astoundingly an NFT of a digital artwork Everydays.
Non-fungible tokens NFTs and copyright law. However there is a looming problem resulting from the conflict of ownership and NFT copyright. Without a solution to this NFTs wont reach their full potentials.
News about non-fungible tokens NFTs selling for eye-popping sums has been hard to miss. And an NFT representing digital artist. In this Part II we discuss copyright law aspects of NFTs with a focus on the EU copyright acquis.
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