Whose Work Is It Anyway? - Non-Fungible Tokens And Its Tryst With Copyrights

The horizons of what could be achieved with technology has stretched farther than we could imagine. When Christopher Torres, the creator of the 'Nyan Cat' gif, published its corresponding token through the crypto-art platform foundation, he did not have the slightest idea that it would sell for over 300 ETH (approximately equal to $590,000). Similarly, Jack Dorsey's first tweet that reads "just setting up my twttr" was sold for a whopping 1630 ETH (approximately 3 million dollars). These instances fuelled discussions around a much-hyped cryptographic tool this year: Non-Fungible Tokens (NFTs). While NFTs have become a trend that is much talked about, there is ambiguity surrounding its interrelationship with copyrights. Through this article, the author aims to provide an overview on NFTs while exploring the relevance of copyrights in NFTs.