Non-Fungible Tokens (NFTs) In the Art World: Is Buying An NFT a Safe Bet?
Nicholas O'Donnell served as co-chair of the session "Non-fungible tokens (NFTs) in the art world: is buying an NFT a safe bet?" on October 11, 2021 at the Virtual Fever the New Pandemic conference, presented by the International Bar Association (IBA) Intellectual Property, Communications and Technology Law Section in Berlin, Germany.
NFT’s have become the new trend in the art market and raise many legal questions for the parties involved. This workshop offered an open discussion about the legal issues at stake when selling or buying an NFT, from the artist’s rights to the collector’s estate. The discussion included an analysis of recent NFT sales from the point of view of the artist and copyright holder, the auctioneer and gallery, and of the buyer.