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The author identifies existing legal frameworks through which NFTs can be adjudicated as personal property instead of intellectual property.
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This summary has 18 comments and 985 views.
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Wearing my finance hat, I am not convinced that NFT has an intrinsic value. The process for analyzing an NFT valuation is not predetermined. Simply put, NFTs cannot be evaluated using the same parameters that you would use to evaluate private companies or traditional investment vehicles like shares where the last buyer’s payment typically provides some indication of the worth. However, with NFTs, it can be challenging to predict what the subsequent buyer may pay based on their predictions. As a result, estimating the value of an NFT is based on speculation.
*co-author’s response: Thank you for these questions! I will start in reverse order to address the foundational issues that affect the rest of the questions. That is: what rights do NFT owners have? The answer is relatively none. Unless there is an explicit statement of licensing agreement or some statement of explicit transfer of intellectual property; the purchase of an NFT does not grant any rights beyond those that are granted with purchasing anything from a third party. The transfer of NFTs should be treated as property and should be regulated as such, in that they are explicitly not transmitting rights of ownership over the license with a general NFT purchase.
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