NFTs are now property in the UK! - Núm. 5-2022, Mayo 2022 - Weekly Digest - Libros y Revistas - VLEX 903528128

NFTs are now property in the UK!


Last week, The UK’s High Court, recognized NFTs (non-fungible tokens) as property, separate from the underlying right they represent, capable of being frozen by way of an injunction.

This decision sets an important precedent for NFTs regulation and enables litigants to bring the full power of courts to, for example, seize stolen assets or compel repayment.

The ruling opens a debate about what owning an NFT implies. At this moment, the concept of NFTs as property is as abstract as a patent law, or an extension of Intellectual Property law, as NFTs are essentially ideas that have taken virtual form.

Nevertheless, to some, an NFT doesn’t convey copyright, usage rights, moral rights, or any other rights at all, as these aspects are regulated separately in a written contract. However...

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