Category Archives: NFTs

OFAC Enforcement Impacts NFTs: As Crypto Enforcement Ramps Up to Combat Ransomware, Robust Compliance is Key

By Fatema Merchant, James Gatto and Mario Torrico on November 16, 2021 Posted in NFTs

The Treasury Department’s Office of Foreign Assets Control (OFAC) took action last Monday, November 8, 2021, and sanctioned a Latvia-based exchange, Chatex, its associated support network, and two ransomware operators for facilitating financial transactions for ransomware actors. In total, OFAC designated Chatex and 57 cryptocurrency addresses (associated with digital wallets) as Specially Designated Nationals (SDNs). … Continue Reading

NFT License Breakdown: Exploring Different Marketplaces and Associated License Issues

By James Gatto and Molly Tomer* on September 16, 2021 Posted in NFTs

At least three different types of marketplaces facilitate the sale and/or resale of NFTs. These include open marketplaces, curated marketplaces and proprietary marketplaces. Other variations do exist, however, and it is likely that other alternatives will be developed. In the attached article, we examine some of the differences between these types of marketplaces and business … Continue Reading

The Legal Considerations of Esports NFTs

By James Gatto on June 4, 2021 Posted in Esports, NFTs

This was originally published by Esports Insider on June 4, 2021 Within the blockchain space, one of the fastest-growing areas is NFTs. Within the games space, esports is growing rapidly. So naturally the combination of NFTs and esports should have tremendous potential. This article will explore some opportunities at the intersection of these trends and … Continue Reading

NFTs and Intellectual Property: What IP Owners and NFT Creators Need to Know

By James Gatto, Laura Chapman and Yasamin Parsafar on March 25, 2021 Posted in Art, Intellectual Property, NFTs

Everything is being tokenized these days, including art, games, collectibles and much more. The record prices being fetched have created an NFT frenzy. This distribution model has created a new channel for monetization of creative IP. Given some of the unique aspects of NFTs, IP owners need to rethink their IP protection and licensing strategies. … Continue Reading

Protecting IP and Limiting Liability When Licensing IP for Digital Art and NFTs

By James Gatto on March 24, 2021 Posted in Art, Intellectual Property, NFTs

Many things are being tokenized, but the growth of NFTs for digital art is booming. This, in part, is due to the recent headline news that Beeple’s iconic digital art work was sold at auction by Christie’s for $69 million. Other digital art is being created to leverage pre-exiting IP and physical art. This boom … Continue Reading