Foreign Court Gives NFTs Property Rights

What is happening? A court in Singapore determined that NFT owners do have property rights because  Singapore’s highest court “recognized NFTs as protectable digital assets and a form of legal property.”

Why is this important? NFTs are new. Ownership of decentralized ledgers is new. Laws and Regulations are slow to catch up.

How will this be important? Policy makers will start defining what NFTs are and whether and how the property rights attach.

Wiley Connect | Property Rights in NFTs Are in the Spotlight