Non-fungible tokens (NFTs) are sweeping the art, collectible and advertising industries, and sales of the cutting-edge digital art for big money have drawn increasing attention to NFT technology and its owners and buyers. NFTs are also being embraced as a potentially lucrative revenue stream for artists and a unique branding opportunity for entrepreneurs.
NFTs are often considered art, and creators of NFTs can take steps to protect their work accordingly in a number of ways. In October and November 2021, the U.S. Patent and Trademark Office added NFTs to its Trademark Identification Manual, thereby allowing brands to file for NFT trademark registrations. Brands can also execute license agreements, which are stored in the blockchain as a smart contract and purchase blockchain domain names to protect their interests.
In this PLI Chronicle article, Advanced Media & Technology partner Nerissa Coyle McGinn discusses trademark rights and fair use, NFT trademark suits filed in early 2022 and previous and ongoing NFT copyright disputes. Nerissa also explains the development of copyright case laws and outlines how future decisions will likely affect NFT litigation.
Click here to read the full article on PLI PLUS.