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Suddenly, the world is atwitter about NFTs! From the Super Bowl LVI to fractionalized NFT ownership of Banksy’s “Love Is in the Air,” NFTs are a hot topic in many circles. But what about the intellectual property implications of NFTs? This three-part series will consider potential IP protections for NFTs, implications for design patents, and trademark protections for NFTs.
In our last article, we discussed the implications of NFTs and how intellectual property rights could be used to protect them. In this article, we will explore the availability and implications of design patent protections for NFTs.
NFTs create a path for intellectual property owners to monetize their intellectual property. This often occurs through licensing, as discussed in the first article in this series. As IP owners brand and license their NFTs and NFTs become more valuable, it will be increasingly important to examine strategies to protect their intellectual property. Could design patents be one such type of IP?
Although NFT technology is relatively new, the intellectual property laws governing it are not. Nevertheless, increased popularity of innovative technologies like NFTs, as brands expand their presence in the metaverse, can raise novel legal questions.
In our last article we discussed how design patents can protect NFTs. Now it’s time to consider how existing trademark and copyright laws can be used to protect brands, NFTs, and NFT-related products in real life and the metaverse, a three-dimensional virtual world that often mimics the physical world we live in.