Theory and practice of intellectual property
№ 1 / 2022
ISSN (Print) 2308-0361
ISSN (Online) 2519-2744
PDF (Ukrainian)DOI: https://doi.org/10.33731/12022.258183
Published 2022-06-03
NFT: a private law view through the link with copyright
Liubov Maidanyk
Ukraine
https://orcid.org/0000-0002-1794-4513
Abstract
This article is devoted to the study of non-fungible tokens (NFT) as a new tool, which due to its technical features is unique and unrepeatable and has recently been widely used by art collectors. This article attempts to define the legal understanding of non-fungible tokens from the perspective of civil law, as well as copyrights. In order to achieve this goal, the article identifies the main legally important components of the NFT creation process, which not least determine the place in the system of objects of law. This article defines certain approaches to the understanding of virtual (digital) property in relation to the category of crypto-asset (virtual asset) under Ukrainian law, as a result of which the position about the possibility of attributing NFT for certain conditions is substantiated. The position about the possible obligatory nature of NFT is substantiated. The possibility of obtaining copyright on the work in connection with which NFT is created, as well as the emergence of resale right is analysed.
It is concluded that NFT is not a work, and is not the result of acquiring intellectual property rights, but can only certify property rights. NFT can be secured by a property right of claim, for example concerning the transfer of a property, including the original work of art, the image of which is used for such NFT. NFT is not a separate copyright object, as technically, it is only a metadata associated with a digital file — a digital copy of a copyright or related rights object. The use of the copyrighted work on NFT can be lawfully executed only with the permission of the copyright holder. The use of the NFT copyright may be deemed unlawful under certain conditions, which requires separate permission from the copyright holder.
Keywords: NFT, copyright, virtual assets, nonfungible tokens
References
Sterne J., “Analog” in B. Peters (ed), Digital Keywords: A Vocabulary of Information, Society & Culture (2016) 297 p.
Edelman G. The Father of Web3 Wants You to Trust Less WIRED.
https://www.wired.com/story/web3-gavin-wood-interview/
The 2021 Global Crypto Adoption Index: Worldwide Adoption Jumps Over 880% With P2P Platforms Driving Cryptocurrency Usage in Emerging Markets.
https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index/
Некіт К. Г. Право приватної власності в інформаційному суспільстві: теорія і практика: монографія. Одеса: Гельветика, 2021. 554 с.
Legal Information Institute.
https://www.law.cornell.edu/wex/affidavit
Подоляк А. Що таке NFT-токени і навіщо вони митцям?
https://aequo.ua/analytics/sho-take-nft-tokeni-i-navisho-voni-mitcyam
Why NFTs Are The Keys To Accessing The Metaverse.
https://www.binance.com/en/blog/nft/why-nfts-are-the-keys-to-accessing-the-metaverse-421499824684903085
Шевченко Л. Рассказываем, как Марк Цукерберг создает альтернативу реальности.
https://tech.liga.net/technology/article/metavselennaya-meta-rasskazyvaem-kak-tsukerberg-sozdaet-alternativu-realnosti
Satoshi Nakamoto Bitcoin: A Peer-to-Peer Electronic Cash System Bitcoin: A Peer-to-Peer Electronic Cash System.
https://bitcoin.org/bitcoin.pdf
Guadamuz A., Journal of Intellectual Property Law & Practice, Volume 16, Issue 12, December 2021, Pages 1367–1385.
https://doi.org/10.1093/jiplp/jpab152
Sales hit 12 million cryptokitties is predicted as ethereums killer apps.
https://medium.com/@socialmedia_63108/sales-hit-12-million-cryptokitties-is-predicted-as-ethereums-killer-app-2ebd40e520c0
Майданик Р. А. Переосмислення поняття і класифікації речей в умовах рекодифікації. Проблеми цивільного права та процесу : тези доповідей учасників науково-практичної конференції, присвяченої 96-й річниці від дня народження О. А. Пушкіна (Харків, 21 травня 2021 року). Харків : ХНУВС, 2021. С. 56−63.
Шимон С. І. Теорія майнових прав як об’єктів цивільних правовідносин. Київ : Юрінком Інтер, 2014, 664 с.
Bernardino D. et al., NFT — Legal Token Classification (July 22, 2021). EU Blockchain Observatory and Forum NFT Reports.
https://ssrn.com/abstract=38918723
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on Markets in Crypto-assets, and amending Directive (EU) 2019/1937.
Про віртуальні активи : проєкт Закону України № 3637 від 11.06.2020.
http://w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?pf3511=69110
Некіт К. Г. Право приватної власності в інформаційному суспільстві: цивілістична теорія і практика реалізації : автореф. дис…. д-ра юрид. наук: 12.00.03. Одеса, 2021. 44 с.
Лейзаренко Д. TJournal. Криптоинвесторы купили за $3 млн книгу с раскадровками неснятой «Дюны» и решили, что получили права на её экранизацию.
https://tjournal.ru/internet/514014-kriptoinvestory-kupili-za-3-mln-knigu-s-raskadrovkami-nesnyatoy-dyuny-i-reshili-chto-poluchili-prava-na-ee-ekranizaciyu?fbclid=IwAR1jtywxZfQCFGwUonF7DRVP9509COhY2Ir22RxXY3jxZLtjRBuSJudeaTo
Рішення Європейського суду справедливості по справі GS Media BV v Sanoma Media Netherlands BV and Others (Case C-160/15ECLI:EU:C:2016:644).
Raustiala K., Sprigman Ch. Guest Column: Tarantino vs. Miramax — Behind the NFT ‘Pulp Fiction’ Case, and Who Holds the Advantage. Hollywoodreporter.
https://www.hollywoodreporter.com/business/digital/tarantino-miramax-pulp-fiction-nft-1235052378/