Decoding The Fine Print On Nonfungible Token Licenses
Law360 (March 30, 2021, 4:59 PM EDT) -- Nonfungible tokens, also known as NFTs, are digital certificates of ownership or other rights that are stored on a blockchain.
A blockchain renders these certificates immutable and, through cryptography, allows the creator or minter to create one or a limited edition of these certificates.
Works associated with NFTs can include digital creative works — art, music, videos — or, in newer use cases, real- world tangible items.
Part of the value of NFTs to purchasers and sellers is that, because they are immutable, NFTs provide a reliable means of signifying ownership of digital assets and provide a historical chain of title...
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