English High Court recognizes NFTs as ‘property’ and makes proprietary interim remedies available to protect investors

June 30, 2022By rightstech

In an important ruling, the English High Court has recognized for the first time that there is an arguable case that non-fungible tokens (NFTs) are to be treated as property under English law. This means that the powerful proprietary remedies available to victims of cryptocurrency fraud are also available to NFT fraud victims.

Source: NFT fraud: the English court recognises NFTs as ‘property’ and makes proprietary interim remedies available to protect investors

RightsTech Extra

AI Companies Get the Picture

By Paul Sweeting

One of the biggest challenges facing copyright owners in grappling with the rapid development of generative AI technology, apart from a murky legal status, has been market failure, as discussed here in previous posts. The amount of existing material needed to train gen-AI models is so great, and so varied, that gauging the value of any one piece of it to establish a market price for it for licensing purposes is often effectively impossible. One group of rights owners is finding willing buyers among AI companies, however. An active, albeit for various reasons mostly sotto voce market has begun to emerge for the use of images held in large photo archives and by photo agencies and social media platforms, complete with per-unit industry and at least a nod toward creator attribution... Read More >>

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