News about non-fungible tokens NFTs selling for eye-popping sums has been hard to miss.

Non fungible token and copyright. Non-fungible tokens NFT. A topic at the edge of intellectual property IP law is the ambiguous relationship between non-fungible tokens NFTs and copyright law. An NFT is called non-fungible because unlike a traditional cryptocurrency each token is said to be unique.

Non-Fungible Tokens NFTs have recently burst onto the scene as a new and legitimate way to own license and commercialise assets changing what we previously conceived as truly owning both digital and real-world assets. Non-fungible tokens NFTs are all the rage in the music industry right now. NFTs have been put under the spotlight this year as several sales of NFTs recorded purchase prices exceeding a million dollars.

The blockchain is a decentralized ledger that tracks the ownership and transaction history of each NFT. This brings us to the second feature of NFTs. However there is a looming problem resulting from the conflict of ownership and NFT copyright.

For the uninitiated NFTs are a part of the Ethereum cryptocurrency blockchain allowing for the distribution andor sale of unique ie. The massive adoption of non-fungible tokens NFTs into the blockchain society is a novel means for creators to reward their creativity. Non-fungible tokens NFTs and copyright law.

Tokens refer to digital tokens which are cryptographic certificates that indicate the authenticity and ownership of the asset. Copyright issues 2 min read. Generally the purchase of an NFT only grants the purchaser ownership of the specific copy or version of the work that the NFT represents.

NFTs have been put under the spotlight this year as several sales of NFTs recorded purchase prices exceeding a million dollars. The First 5000 Days by. Recently I have come across a new world of copyright even though it is not copyright in any form that seems to be speculated over which is Non-Fungible Tokens or NFTs that are used to sell rights in digital art.