The Intersection of Blockchain, NFTs and Intellectual Property Law
Public Key
The Complex Tax Problems of NFTs and Blockchain Technology
In 2021, artists will be able to sell NFTs and get a share of the proceeds. The idea was that they would then receive royalties from those who bought them. But it's more complicated than that: There are tax issues as well as securities law concerns. "Right now we're kind of in this weird space," he says.
The Intersection of Blockchain, NFTs and Intellectual Property Law
“Code is Law” is one of the big myths when it comes to IP Law and blockchain. In this episode, host Ian Andrews talks to Moish Peltz (Partner, Co-Chair of Emerging Technologies & Blockchain Practice Group, FRB Law) to demystify this myth and explain how the courts will apply copyright and IP laws to emerging technology like blockchain, NFTs and AI generated content.
In the episode, Moish explains recent cases between luxury brands and NFT creators, and how those cases will impact the industry as regulatory, legal and tax requirements increasingly cause NFT marketplaces to phase out creator royalties.
Moish also touches on how the music industry still faces challenges that were first presented by file sharing sites like Napster, and highlights current and future legal cases that will shape the blockchain and NFT industry forever.
Minute-by-minute episode breakdown- (2:35) - Moish discusses his early Bored Ape Yacht Club NFT purchase and the IP capabilities the BAYC community
- (6:35) - The concept of "code is law" and its limitations
- (9:45) - Is serving court documents via airdrop legal and are legislators and the courts adapting to blockchain in the legal system
- (11::37) - Overview of the Hermes trademark infringement case and its IP implications for the broader NFT industry
- (21:12) - The legal challenges of AI-generated content and copyright ownership for content, music and Hollywood
- (31:02) - Challenges and unresolved issues in the NFT and Music industry
- (37:05) - Future legal cases to watch in the blockchain and NFT industry
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
- Website: Falcon, Rappaport & Berkman LLP: Emerging Technologies & Blockchain Practice
- Blog: WAGMI! At Last, a Legal Victory for Cryptocurrency | Ripple vs. SEC
- Moish Twitter: Digital assets, web3 and IP law at @frblaw.. Collector of BAYC #8611
- Bloomberg Article: MetaBirkin NFT Artist Appeals After Hermès Trademark Case Loss
- Article: The Bored Ape Yacht Club partners with round21 to launch a digital + physical series
- Announcement: FRB Law Digital Asset Recovery And Enforcement Practice
- Blog: Bitfinex Hack Money Launderers Plead Guilty
- YouTube: Chainalysis YouTube page
- Twitter: Chainalysis Twitter: BuildCareers at Chainalysising trust in blockchain
- Tik Tok: Building trust in #blockchains among people, businesses, and governments.
- Telegram: Chainalysis on Telegram
- Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
- Moish Peltz (Partner, Co-Chair of Emerging Technologies & Blockchain Practice Group, FRB Law)
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