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ARTICLE · 01 NOVEMBER 2022

NFTs In Singapore

Khurana & Khurana, Advocates and IP Attorneys
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In order to buy and sell digital artwork, NFTs are growing in popularity. This enables artists to monetize their original work, which would otherwise be easily reproduced.

SingaporeTechnology
Tanya Saraswat
Tanya Saraswat
Khurana And Khurana
Khurana And Khurana
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Protection of Non-Fungible Tokens in Singapore

NFTs are now the newest digital treasures in the entertainment, sports, art, esports, and gaming industries thanks to their recent growth in popularity. Non-Fungible Tokens ("NFTs") are a class of blockchain-based digital assets that best describe ownership of a digital good. The fact that NFTs represent a unique item existing in the digital world sets them apart from other digital tokens. In other words, because each NFT is distinct, you cannot just make several clones of a single NFT. A rare original arcade gaming console, for instance, is not fungible. In-game objects, artwork, pictures, films, GIFS, and other media are more examples (such as an avatar or a rare gaming asset).

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