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ARTICLE · 28 FEBRUARY 2023

NFT-related Disputes: How Do You Resolve Them?

Schoenherr (Schönherr Rechtsanwälte)
Schoenherr (Schönherr Rechtsanwälte)
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Schoenherr (Schönherr Rechtsanwälte)

Schoenherr (Schönherr Rechtsanwälte)

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NFTs (Non-Fungible Tokens) are an exciting phenomenon. Only recently, an animated Gif of Nyan Cat (2011) was sold for USD 500,000. In March 2021, the first Twitter post ever was sold for USD 2.9m.

PolandTechnology
Schoenherr Attorneys At Law
Schoenherr Attorneys At Law
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NFTs (Non-Fungible Tokens) are an exciting phenomenon. Only recently, an animated Gif of Nyan Cat (2011) was sold for USD 500,000. In March 2021, the first Twitter post ever was sold for USD 2.9m. Meanwhile, the biggest football clubs are making millions selling their fan tokens, while the NBA has tokenised the best dunks, moves and other memorable plays, offering them as digital collectibles.

What are NFTs?

A fungible asset is an asset that can be readily interchanged. A EUR 100 bill is a EUR 100 bill no matter when or where it was printed. The same is true for digital currencies. One bitcoin is always equal to one bitcoin regardless of which blocks of the blockchain it represents. Cryptocurrencies are fungible tokens.

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