With the explosive introduction of non-fungible tokens (“NFTs“) and their potential not only in the cryptocurrency industry but in mainstream media as well, there is an urgent need to understand the legal aspects and consequences of NFTs.
Firm founder, David Rodman recently joined Penn State Dickinson Law School Professor Tonya Evans to discuss the array of legal implications that potential NFTs should consider.
Among the issues discussed, Mr. Rodman and Prof. Evans focus on NFTs’ relationship with artists in the music industry in specific, problems like separating NFT from the underlying token, how new uses will trigger a wave of artists revisiting their contractual rights, and IRS tax implications.
Watch the full discussion below:
For more on the world of NFTs and decentralized finance, check out Mr. Rodman’s interview with Anthony “Pomp” Pompliano of the Pomp Podcast.