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ARTICLE · 27 OCTOBER 2021

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Non-Fungible Tokens — Laws And Regulations In India

Agama Law Associates
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Non-Fungible Tokens or NFT's are a part of the multi-billion-dollar industry that seems to be growing steadily. NFT's have been around in the market for a few years now but have been introduced...

IndiaTechnology
Nitin Jain
Nitin Jain
Malvika Singh
Malvika Singh
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Introduction

Non-Fungible Tokens or NFT's are a part of the multi-billion-dollar industry that seems to be growing steadily. NFT's have been around in the market for a few years now but have been introduced into the mainstream market in the recent years. They are unique or "one of a kind" digital assets that can determine ownership and assert value of an underlying digital asset such as an original image, video, or audio. NFT's are "minted" on these assets by using blockchain technology such as Ethereum and smart contracts such as Binance Smart Chain which create a unique digital signature thereby making them highly secure. NFT's are currently the digital treasure that opens portals to newer crypto audience. They have taken up the world with their growing economic, social as well as cultural importance. NFT's seem to be holding the "trend" market of these times as the digital assets have created the position of holding massive opportunities for renowned artists

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