Recently, two NFT copycats are fighting over which is the real fake Bored Ape Yacht Club (BAYC), a famous NFT with some of the most expensive crypto art assets. Since the IP law governing NFTs is still new and much is in the grey zone, a lot of copycats including PHAYC and Phunky Ape Yacht Club (PAYC
Category: Intellectual Property (page 23 of 156)
2 conditions to be considered:
1️⃣ When an NFT does not have an underlying asset, for example, it is a collectible, the ownership right will be transferred within the transaction and the owner will now own the NFT wholly; 2️⃣ When an NFT has an underlying asset such as artwork
Buyer who owns and acquires NFT has to take note that when buying an NFT, they merely own the particular digitally authenticated copy and not to whole and variations of the underlying artwork. The copyright of the original underlying artwork still remains with the author and creator unless otherwise
Today is the end of the Chinese New year celebrations. May the joys of the festive season remain with you all year round. Happy Chap Goh Mei ㊗️
The creator of the infamous Nyan Cat, Chris Torres sold a unique version of the much-copied meme for almost 600,000 USD. Torres remastered the original GIF to make it larger and touched up some flaws.
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