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ARTICLE · 18 SEPTEMBER 2021

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NFTs: Art Meets Crypto – Traditional Copyright Issues In A Tokenized World

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Non-Fungible Tokens (NFTs) are the latest development in disruptive blockchain technology innovations, this time in the world of digital art, collectibles, and even luxury goods...

CanadaIntellectual Property
Daniel Anthony
Daniel Anthony
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Background

Non-Fungible Tokens (NFTs) are the latest development in disruptive blockchain technology innovations, this time in the world of digital art, collectibles, and even luxury goods. Traditional auction houses have already started leveraging the technology, with one piece of digital artwork being sold for $69 million on Christie's,1 and a visualization of the source code for the internet being sold for $5 million on Sotheby's.2 Luxury brands, like LVMH, are collaborating to develop the world's first global luxury blockchain which utilizes NFTs.3 But what exactly are NFTs, and why are they currently drawing so much attention?

NFTs are digital tokens that can be used to represent ownership of unique digital assets on the Ethereum blockchain.

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The preceding is intended as a timely update on Canadian intellectual property and technology law. The content is informational only and does not constitute legal or professional advice. To obtain such advice, please communicate with our offices directly.

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