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ARTICLE · 09 OCTOBER 2023

Turkey's Position On Non-Fungible Tokens

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On 20 September 2017, the term "NFT" (non-fungible token) was officially coined by Dapper Labs Chief Technology Officer Dete Shirley in the form of the ERC-721 standard.

TurkeyIntellectual Property
Mutlu Yildirim Köse
Mutlu Yildirim Köse
Havva Yıldız
Havva Yıldız
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Introduction

On 20 September 2017, the term "NFT" (non-fungible token) was officially coined by Dapper Labs Chief Technology Officer Dete Shirley in the form of the ERC-721 standard.

NFTs boomed in 2021 and have remained relevant since. Despite the drops observed in their market volume in 2023, NFTs are still in the spotlight as numerous global brands are continuing to launch NFT collections and many trademark applications with coverage including NFTs are being filed all around the globe.

What is an NFT?

An NFT is a digital asset that uses blockchain technology and mostly operates within Ethereum. An NFT is a digital token that cannot be exchanged or replaced and may represent many tangible objects in the real world such as:

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