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ARTICLE · 10 JUNE 2022

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A Token Approach – Web3 Domains

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Since 2021, we have seen the rise and rise of NFTs (non-fungible tokens). The NFT boom has been powered by the sale of NFT artwork, the first-ever tweet on Twitter and even popular memes, which have all fetched a pretty penny.

South AfricaTechnology
Kim Rampersadh
Kim Rampersadh
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Since 2021, we have seen the rise and rise of NFTs (non-fungible tokens). The NFT boom has been powered by the sale of NFT artwork, the first-ever tweet on Twitter and even popular memes, which have all fetched a pretty penny.

The hype following the minting and sale of some NFTs has also brought into question the rights of NFT owners versus the rights of brand owners and copyright holders, whose underlying intellectual property, it seems, may have been filched in the creative or frugal pursuits of others. Courts have been tasked with considering whether NFTs relating to a rap album, uncut movie scenes, images of branded bags and virtual and physical sneakers constitute an infringement of intellectual property rights, amongst other legal violations. In the legal fraternity it has even been said that these cases will determine the future of NFTs. Interestingly, these cases may well still be decided on the fundamental principles of trade mark and copyright infringement.

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