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Are NFT’s protected intellectual property?

On Behalf of | Apr 11, 2023 | Intellectual Property Disputes

There has been a lot of coverage of nonfungible tokens (NFT’s) in recent times, and if you are an owner or creator of NFT’s, you may have questions about what intellectual property rights you have. Alternatively, you might be unfamiliar with NFT’s, but interested in their potential value.

NFT’s and blockchain technology

NFT’s are digital certificates that authenticate asset ownership. This is done through blockchain technology, which is a database that allows information to be shared through a business network.

The technology is called blockchain because the data is stored in blocks that are then linked together in a chain.

A key difference between NFT’s and fungible assets, such as cash, are that NFT’s are not interchangeable. One $20 bill is considered the same value as another $20 bill, but this is not the case with NFT’s.

Potential intellectual property rights

Therefore, if you own an NFT, you could have certain intellectual property protections. It can help of you think of your NFT as a unique assets that cannot be replaced, such as an original work of art.

Your intellectual property protections could include copyright, patent or trademark rights. When you purchase an NFT, you should check to see what intellectual property rights come with it.

If you are the one creating and producing NFT’s, you can choose what intellectual property rights you give to people who purchase your NFT’s.

You can keep the rights to yourself or allow others to use them, the same as you would with a trademark name.

When it comes to copyrights, as an NFT creator, you typically hold the copyright to your NFT. Selling your NFT does not mean the copyright gets sold with it.

Protecting your NFT assets

The world of intellectual property was complex even before the invention of NFT’s. In this new era that we are living in, with its vast options for content creation, it is important to know about your intellectual property rights. An experienced attorney can help you understand your rights and options.