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ARTICLE · 17 NOVEMBER 2021

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NFT And Its Relationship With IPR

Khurana & Khurana, Advocates and IP Attorneys
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The non-fungible tokens [hereinafter referred to as "NFTs" have been the talk of the town for a decade now. They can have multiple use cases, given the ability to foster innovation and produce revenue for both creators and purchasers.

IndiaTechnology
Pravertna Sulakshya
Pravertna Sulakshya
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The non-fungible tokens [hereinafter referred to as "NFTs" have been the talk of the town for a decade now. They can have multiple use cases, given the ability to foster innovation and produce revenue for both creators and purchasers. Nevertheless, as the creative work enters the NFT market, the deal comes with the issue pertaining to intellectual property rights.

This essay explores a two-fold analysis- one is to inquire about the world of NFTs and their uses, and the second is to understand its relationship with IP rights. The essay begins with a brief yet in-depth analysis of the blockchain technology that runs NFTs. It then turns to the definition of NFTs, their uses, working methodology, and the reason for their popularity. Eventually, issues pertaining to IP rights and their infringement come into the highlight, which the essay further explains based on types of IP rights. Lastly, through a critical analysis of the existing laws and lacunae, suggestions are

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