Have you heard of NFTs, or non-fungible tokens? In recent years, NFTs and their associated intellectual property rights are increasingly embroiled in legal battles. One such example is Nike v. StockX, a NFT trademark case filed in the U.S. District Court for the Southern District of New York. This case demonstrates that fashion brands like Nike are willing to battle in the courtroom for intellectual property rights in NFTs.
Recently, the concept of NFTs, or Non-Fungible Tokens, have taken over the internet as the new, hot investment. Unfortunately, so too have people’s misconceptions about what owning an NFT actually is. Many investors think that owning an NFT of a digital image means owning the underlying copyright to the image. Spoiler alert – it doesn’t.