Copyright in the Relationship Underlying Non-Fungible Cryptographic Tokens

Abstract

This study addresses the intersection between intellectual property rights, copyright and related rights and cryptographic tokens managed by distributed ledgers. To examine these issues, a particular focus is adopted on a specific subset of tokens, asset tokens, which can represent either a fungible unit of account or a unique non-fungible asset, non-fungible tokens or NFTs. The research focuses on the classification and protection of these unique, scarce, and cryptographic assets that are linked to works of art in both physical and digital formats. A non-fungibility perspective is adopted to provide a comprehensive analysis of the subject.
The main objective is to elucidate key issues in the field of copyright and intellectual property related to NFTs. Among the questions raised are: the extent of copyright protection over NFTs, the relationship between the internal structure of the asset and its visual representation, the technical feasibility of withdrawing an NFT from the market in case of intellectual property rights infringement, and, finally, the rights that the owner of a physical work of art has to convert it into an NFT. The detailed technical analysis aims to provide answers to these questions, thus contributing to the legal and academic understanding of digital assets in the context of intellectual property.