NFTs and IP and You
Published on Feb 16, 2022
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NFTs & IP & You
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Nothing I say here is legal advice.
What is an NFT?
NFTs are digital assets that are provably unique. They are linked to digital (and sometimes physical) content, to manifest proof of ownership.
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• Unit of data stored on a blockchain.
• NFTs may be associated with digital files, such as
photos, videos, and audio.
• Because each non-fungible token is uniquely identifiable, NFTs differ from cryptocurrencies, which are fungible.
• NFTs can be used to authenticate ownership of
digital assets.
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After an NFT is minted (created) every transfer -- including each sale -- of the NFT is recorded on a blockchain. This creates a ledger with information on ownership and price history. This record is known as provenance.
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What the minter has the right to include (plus anything in the public domain).
What can an NFT contain/include?
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The law is different for each:
- Trademarks
- Trade Dress
- Copyright
- (Patents, too.)
- Trade secrets & PII are not IP
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Metabirkins
They might be art. A jury says they're not fair use.
Why Do You Think You Own the Thing?
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No.
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Major Multinationals & Fair Use
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Magic: The Gathering
Scanning cards to use in your community's play may be infringing.
Photo by Johannes Plenio
Who Owns the IP After Transfer?
And how will Warhol and "Bad Spaniels" change the scene?
Photo by @DrGarcia
