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Long recognized for its work guiding clients in various industries through their most significant regulatory and enforcement challenges, Paul, Weiss is at the forefront in helping financial institutions, fintech companies, investors, media and entertainment clients and technology companies navigate the new world of cryptocurrency and blockchain technology. Our multi-disciplinary team helps clients capitalize on the business opportunities, identify the challenges and mitigate the emerging legal risks of digital assets.

Cyber Law: The Mysteries of NFT Ownership … Explained

February 17, 2023

Litigation partner Katherine Forrest’s latest Cyber Law column, “The Mysteries of NFT Ownership … Explained,” appeared in the February 16 issue of the New York Law Journal. Katherine discusses the confusion and the questions surrounding what is really included in the purchase of nonfungible tokens, or NFTs, focusing on associated intellectual property rights. There is an active market in all forms of NFTs including video clips, sound recordings, artwork, and other physical property. When an NFT is sold, the form of the contractual arrangement determines what rights are or are not acquired. NFTs do not, by virtue of their interesting blockchain form, alter the law of copyright; and when NFTs are sold, the principles of buying and selling copyrighted works apply.

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