Share on LinkedInShare on LinkedIn

ARTICLE · 03 NOVEMBER 2021

The Development Of NFTs Through The Legal Perspective

Khurana & Khurana, Advocates and IP Attorneys
Explore more from Khurana & Khurana, Advocates and IP Attorneys

Due to its growing price and increasing presence in creative works such as art, tweets, songs, memes, photographs, other digital media, or a virtual representation of, Non-Fungible Tokens...

IndiaTechnology

Due to its growing price and increasing presence in creative works such as art, tweets, songs, memes, photographs, other digital media, or a virtual representation of, Non-Fungible Tokens (hence, NFTs) have become a popular issue over the last couple of months. NFTs are a cryptographically created receipt of ownership of a certain thing or entity. In a nutshell, they let a person prove that they own an asset. A blockchain-based NFT uses a database or ledger to keep track of transactions. Furthermore, each NFT has its own set of metadata that can't be changed or traded, making it one-of-a-kind (i.e. non-fungible).

This novelty, along with the possibility of making money, has managed to attract attention and raise prices. A recent example is the $2.9 million sales of Jack Dorsey's tweet. The situation with NFTs, on the other hand, is not as straightforward as it appears. We must immediately address the problem of their ownership and copyright. As a result, the focus of

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from