NFTs What you need to know Members  

Want to understand more about NFTs? Thomas Staveley, Solicitor at IP law firm Briffa guides us through the points you should be aware of as an illustrator or NFT purchaser, covering the rights in an NFT, considering appropriate platforms and working with brands.

Introduction ? What is an NFT?

The acronym 'NFT' stands for non-fungible token, which can be described as one of a kind digital artistic asset (such as drawings, videos, music) that exploits, most commonly, Ethereum blockchain technology, along with other types of blockchains such as Bitcoin.

NFTs have taken the digital art market by storm and brought a new meaning to art collecting. Within the art industry, ?provenance? (i.e. origin) and ?authenticity? of a work of art are the real keys to its commercial value and price valuation. As a result of blockchain technology, each individual NFT is composed of metadata stored on a digital ledger that cannot be changed. This metadata authenticates the underlying asset of the NFT as a genuine and original entity.

NFTs and Intellectual Property Rights: where do you stand?

If you are an artist/illustrator or brand?

The digital art market is thriving. More and more artists are approached by NFT platforms and major brands to create capsule collections to be minted into