How Intellectual Property Rights Can Complicate NFT Market

By Collin Starkweather, Izzy Nelken and Sam Miller (August 17, 2021, 5:26 PM EDT) -- Over two decades ago, Lawrence Lessig famously declared that "code is law,"[1] a maxim that finds fresh relevance with nonfungible tokens, or NFTs, for digital artwork and other intellectual property capturing headlines recently.

Recent highly publicized sales include $69 million paid for an NFT associated with a piece of digital art titled "Everydays: the First 5000 Days" sold by auction house Christie's on behalf of Mike Winkelmann, the artist more popularly known as Beeple;[2] $2.9 million paid for an NFT of Jack Dorsey's first tweet on Twitter;[3] and $5.4 million paid for source code originally used to create the World Wide...

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