HomeTech NewsLegal Aspects of Non-Fungible Tokens

Legal Aspects of Non-Fungible Tokens

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Business models with NFTs are legally challenging. This gives rise to a number of new legal questions, even beyond copyright or tax law.

 

With NFTs, Mercedes-Benz wants to merge physical and digital products. In the first quarter of 2021, ten percent of global sales on the art market were generated with NFTs. There are also commercially successful projects such as the Bored Ape Yacht Club, the CryptoPunks or the CryptoKitties. NFT and crypto games, NFT auction houses and NFT platforms are also booming.

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These examples are the application areas for NFTs that are currently on everyone’s lips and made headlines, especially in 2021. However, other business models can also be implemented or supplemented with NFTs: proofs of origin for products including supply chains, digital identities, electronic health records, land register functions, storage of training and employment certificates, management of entrance tickets or emission certificate trading.

 

More on investments and cryptocurrencies:

  • Legal aspects of Non-fungible Tokens
  • Cryptocurrencies and blockchain ideas from quite serious to completely absurd
  • Investing in the stock market: Trade securities better informed
  • Cryptocurrency Ethereum: Writing smart contracts for the blockchain
  • Bitcoin, Ethereum & Co: What you need to know about cryptocurrencies
  • Practical tips on exchanges and wallets for cryptocurrencies
  • Cryptocurrencies: An Introduction to the Ethereum Blockchain
  • Cryptocurrency: A small practical guide to Ethereum wallets
  • From Bitcoin to Ripple: This is how cryptocurrencies work
  • How the multi-million dollar bitcoin wallet scam works
  • Ethereum mining: A comparison of mining performance and tuning of different GPUs
  • Mining guide to making money with a processor: when it’s worth mining Monero
  • Mining Ethereum made easy: mining guide for making money with a graphics card
  • NFTs explains: what makes up the crypto tokens and how to create them yourself
  • Mobilecoin: Crypto money via signal messenger

 

Ultimately, all areas are available in which there is an interest in the audit-proof documentation of information or facts (with or without a time stamp). The decentralized structure of public blockchains can also be interesting for reasons of IT security: it is inherent in most public blockchains that more than just a few people control the servers or the cloud on which the data is stored.

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