International NFT Day

In view of the International NFT Day 2023, ILO experts have contributed their thoughts on how non-fungible tokens (NFTs) are defined and used in different jurisdictions around the world.   

Featuring in the Intellectual Property newsletter, Paula Gutiérrez from Grau & Angulo discusses how NFTs interact with copyrights, trademarks and patents in Spain, including recent litigation concerning the protection of NFTs. Over in South Africa, Jeanine Coetzer from Spoor & Fisher provides an extensive overview of the benefits and potential drawbacks of NFTs. In Austria, Claudia Csáky and Sarah Kasslatter from GRAF ISOLA Rechtsanwälte GmbH have produced a four-part series on the impact of digitalisation and legal technology on IP law, with their latest instalment focusing on NFTs and transferring rights in NFT transactions. Meanwhile, in Canada, Smart & Biggar’s Daniel Anthony and Mark Biernacki Brands have released a webinar on protecting trademarks and copyrights online, especially in digital media such as the metaverse. The importance of protecting IP assets in the virtual environment is echoed in Antonella Gutierrez and Evelyn Dueñas Morales’s contribution from OMC Abogados & Consultores. 

For the Tech, Data, Telecoms & Media newsletter, Wiggin LLP’s Marcus Bagnall and Nicholas Crossland offer an intriguing perspective on redeemable NFTs and the conundrum of intrinsic rights. In the latest article from Özdağıstanli Ekici Attorney Partnership, Burak Özdağıstanli and Ebru Gümüş discuss how NFTs are used for in-game purchases under Turkish law. Over in India, Kalindhi Bhatia from BTG Legal discusses personality rights and a recent decision by the Delhi High Court that sets a precedent for how NFT-related disputes may be resolved by Indian courts in the absence of a regulatory framework for NFTs. 

In their latest article for the Banking & Financial Services newsletter, Aditya Bhargava, Mithila Bhati and Sristi Yadav from Phoenix Legal answer the question of whether the NFT phenomenon is comparable to the “tulip-mania” of the of the 1600s or whether it will survive as a genuine asset class. Meanwhile, Roy Keidar from Arnon, Tadmor-Levy explores how the law may view NFTs as securities or financial assets, as well as the concrete role that NFTs may serve in the banking and financial services sector in Israel. The question of how to legally define NFTs is carried forth in Maćešić & Partners’ contribution, in which Zrinka Buzatović and Antea Muschet explore NFT trading in Croatia and the sustainability of the blockchain ecosystem. 

For the Litigation newsletter, Gün + Partners’ Mutlu Yıldırım Köse and Havva Yıldız discuss the legal approach to NFTs in IP cases in Turkey and how they may be considered a valid format by the courts for the purposes of infringement cases. Over in the United Kingdom, Dan Wyatt and Chris Whitehouse from RPC report on a recent judgment that represents an important milestone in the history of cryptoasset disputes in the English courts. In Hong Kong, RPC’s Jonathan Crompton examines the disputes and challenges surrounding NFTs and digital assets, as well as the current regulatory environment.  

Lastly, in our Real Estate newsletter, Michael Lips and Evelyn Frei from Pestalozzi Attorneys at Law report on the tokenisation of real estate under the current legal framework in Switzerland, how this may render transactions more efficient and the changes that the new Federal Act on Digitalisation in the Notary’s Office is set to bring.  

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