Non-Fungible Tokens (“NFTs”), Blockchain Technology & Digital Currencies

Overview

The sudden emergence and rapid rise of non-fungible tokens (“NFTs”) as “one-of-a-kind” assets, blockchain as revolutionary technology, and digital currencies as a disruptive innovation has created transformative opportunities and complex challenges.

Blank Rome’s multidisciplinary team of NFT, blockchain technology, and digital currencies attorneys is actively advising clients across diverse industries on the fundamental elements of the broad range of business and legal issues that arise for those companies and individuals seeking to invest in and/or incorporate NFTs, blockchain, and digital currencies into their businesses and portfolios.

We provide cutting-edge knowledge and strategic legal guidance to clients at all stages of exploration—from digital artists, agents, sellers, and collectors looking to obtain a basic understanding of NFT contract and intellectual property issues to those seeking potential applications and tailored insights for the development and integration of blockchain principles and technology. Always taking a holistic, business-oriented, and client-centered approach, we offer sophisticated guidance from continually evolving transactional, regulatory, and litigation perspectives.

We stand ready to counsel clients on the applicable legal and regulatory landscape, while delivering creative, collaborative, and efficient solutions.

How We Can Help

NFTs

NFTs are often used as a vehicle for creating and transferring unique types of digital files and collectibles, such as artwork, photos, drawings, videos, and audio. NFTs, which consist of digitally stored units of data that are certified as distinct from any other NFTs, are not interchangeable, unlike digital currencies.

Blank Rome’s dynamic NFT team is comprised of attorneys focused on developments in this new class of assets while regularly guiding clients through the traditional legal issues that underpin NFTs, including:

  • Licensing in (or licensing out) artwork used to create NFTs
  • Copyright applications and enforcement for NFTs
  • Best practices for minting and selling NFTs
  • Patent prosecution and enforcement for NFTs
  • Drafting, negotiating, and enforcing Master Services Agreements
  • Traditional agent/enforcement issues

Blockchain Technology

Blockchain is a decentralized, distributed ledger technology that facilitates a system of recording transactional information and tracking assets across a network of computer systems. Our experienced blockchain attorneys have a deep understanding of this technology and are advising clients on:

  • Distributed ledger transactions across financial services, maritime, healthcare, energy, real estate, professional services, and life sciences industries
  • Artificial intelligence technologies
  • Fund formation and structuring for investment in blockchain-related businesses
  • Proactive insurance coverage advice and counseling; insurance claims recovery
  • Cybersecurity, identity, and privacy issues relating to blockchain applications

Digital Currencies

Digital currencies, often referred to as “crypto-currencies,” are a form of interchangeable currency that exists exclusively in electronic form and uses a decentralized, digital ledger network (i.e., “blockchain”) to record transactions and exchanges. Our knowledgeable digital currencies attorneys are helping clients on the following emergent issues:

  • Fund formation and structuring for investment in digital currency (including Bitcoin) businesses
  • Regulatory and risk management issues surrounding initial coin offerings
  • Money transmitting licensing
  • Money services business compliance
  • Proactive insurance coverage advice and counseling; insurance claims recovery
  • Cybersecurity, identity, and privacy issues relating to digital currency

Team

News & Views

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