Articles Posted in Blockchain

Posted

copyright-metaverse-1161454459-300x277We’ve written extensively on the still somewhat recent arrival of non-fungible tokens (NFTs) as both a potential revenue stream, caveat-filled investment destination and pop culture marker of the moment. Back in 2018, we wrote about the Los Angeles Dodgers giving away digital bobbleheads to fans, who could redeem a private hidden key to send the bobblehead to a personal cryptocurrency wallet or sell the unique serialized bobblehead to another fan. Later, we wrote about NFTs in the art world, from a burned Banksy to the record-setting sale of Beeple’s Everydays – The First 5000 Days, which sold for $69.3 million (including fees). Increasingly, the practical uses of NFTs are being examined in places beyond entertainment and IP portfolios, including the real estate market. Recently, Spanish airline Air Europa even sold the first NFT plane ticket, called a “NFTicket,” for just over $1 million.

Continue Reading →

Posted

NFT-real-estate-1372906629-300x300

Non-Fungible Tokens (NFTs) are changing how we think about asset ownership in the real world and in the digital world. NFTs—unique digital tokens stored on a blockchain ledger that represent ownership of an asset, either real or virtual—have gained significant popularity in realms such as art, gaming and entertainment, as a means to establish authenticity and transfer various rights. As a result, entrepreneurs are searching for new industries to disrupt utilizing the advantages offered by NFTs and blockchain more generally. The traditional real estate industry, together with virtual land in the evolving Metaverse, has been on the radar of many.

Continue Reading →

Posted

Riaz Karamali recently joined host Joel Simon on the Industry Insights podcast to discuss the issues and innovations driving the video game industry, including the emergence of the Metaverse and how non-fungible tokens, blockchain and Web 3.0 may underpin it.

Continue Reading →

Posted

Carolyn Toto recently joined host Joel Simon on his Industry Insights podcast continue the discussion of non-fungible tokens, related IP ownership issues and more.

Joel Simon: Our discussion today is part of a series on non-fungible tokens, known as NFTs. We will take a look at some specific issues that are somewhat unique to NFTs, and try to give you, our listeners, some interesting things to watch out for as you wade into this relatively new space. Carolyn, with the large sums of money involved in many NFT transactions, due diligence and proper transaction execution must be critical factors, yet I’ve heard about buyers getting tripped up on things that, once you hear about them, seem obvious. Can you shed some light on this for us?

Continue Reading →

Posted

Here at Internet & Social Media Law, we examine new developments and challenges that impact the digital and social media landscape. Over on our Policyholder Pulse insurance law blog, we  provide insight on non-fungible tokens (“NFTs”) and the importance of knowing the available insurance options when dealing with them. As NFTs become more common, whether it’s sports tickets and memorabilia or art work, it’s imperative to know how to protect these digital assets. We discuss further in “Covering the Highlight Reel: The Need for Insurance Options to Protect NFT Owners.”

 

Posted

As innovative applications with integrated smart contract functionality emerge from blockchain technology platforms, there is an expanding list of digital currencies, tokens and peer-to-peer financial products and services. Abbreviations abound. There are non-fungible tokens (NFTs), which, unlike fungible cryptocurrencies, are “one-of-a-kind’ digital assets stored on a blockchain platform, and can include images, videos, recordings, collectibles and tangible items in the physical world. There is decentralized finance (DeFi), the peer-to-peer transaction infrastructure for tokens and other software applications and contracts designed to replace traditional banking products and services and streamline transactions. Decentralized applications (dApps) are a relatively new technology similar to traditional web applications from a user perspective, but which run on distributed blockchain platforms, such as Ethereum, rather than on a single computer—dApps are typically open source, allowing software developers to improve features and functions quickly, and free from control by any single authority. Smart contract protocols permit dApps to access the blockchain platform and integrate with cryptocurrencies, NFTs and DeFi projects.

Continue Reading →

Posted

Industry_Podcast_cover-update-final-bottom-300x169Cydney Tune recently joined host Joel Simon on the Industry Insights podcast to chat about the NFT trend, its expansive industry reach and some of its interesting pop culture manifestations.

Joel Simon: Our discussion today is going to touch on a number of things that are a mystery to a lot of people. We’ll focus on non-fungible tokens, known as NFTs, and in the process, can’t help but mention blockchain and cryptocurrencies. Cydney, I read recently that the technology for an NFT has existed since 2010. They went mainstream in 2017, and this year, NFTs have already generated more than $2 billion in sales. So this is definitely a topic that people should get up to speed on. Let’s start with the most basic question: What is an NFT?

Continue Reading →

Posted

NFT-albums-music-1316381848-300x247Over the past few months, non-fungible tokens (NFTs) have exploded in popularity in the worlds of visual arts, sports memorabilia, bobbleheads, and now, music. We have recently seen multiple high-profile NFT releases from artists such as the Weeknd, the White Stripes, Kings of Leon, Linkin Park’s Mike Shinoda, and Steve Aoki, kickstarting a trend as musicians reeling from over a year without touring seek new ways to engage with fans.

Continue Reading →

Posted

Illustration of man pulling dollar sign with rabbit ears out of top hatJust as video killed the radio star, so did the digital transformation kill (or at least convert) traditional media. While “going digital” became the bane of many traditional media companies that struggled to make the leap to an online world, NFTs may be the digital savior that some of these companies need. Imagine that you are a company with a known brand and sizeable catalog of media with potential historical and cultural significance. Yet, you’ve found it difficult to monetize these assets in a world that abhors paywalls and often takes an overly broad view of what constitutes “fair use.” If only there were a way to highlight the unique significance of these assets and tap into the latent collector in all of us. Anyone who follows us already knows that NFTs can serve this very function.

Continue Reading →

Posted

NFT non-fungible tokens infographics on colorful abstract background. Anyone who follows the crypto space knows that non-fungible tokens (NFTs) are all the rage of late. We have written on the subject previously on multiple occasions, particularly with respect to NFTs that tokenize works of digital art. (For a primer on digital art NFTs, check out prior posts here and here.)

Continue Reading →