Partner Louis Lehot and special counsel Catherine Zhu were quoted in an article for CrunchBase, entitled, "What You Need To Know About NFTs." The article examines issues when buying an NFT and how that ownership is recorded on the blockchain.
According to Lehot, “They are often compared to owning an original piece of artwork. There could be reprints of a painting you own, but you own the original painting and the title for it. NFTs are typically sponsored by the actual owners of the copyright.”
The article also looks at the issue from an artist standpoint. Zhu commented that it’s important to understand what rights the artist is handing over when minting an NFT and selling it, as different marketplaces have different allocations of those rights.
Click here for the full article.