NFT ТЕХНОЛОГІЇ ТА АВТОРСЬКЕ ПРАВО

Abstract

This academic study looks into how NFT (Non-Fungible Token) tech affects copyright, especially in art. It dives into Ukraine's laws on copyright and property rights, exploring how NFTs are used in different spheres. The idea of recognizing a new category for digital stuff like NFTs in copyright law is suggested. It argues that NFTs are a unique form of copyrighted material, like photos or music, captured in a specific digital token form. The steps for transferring ownership of NFTs are explained, with smart contracts playing a key role. The common token standards, ERC-20 and ERC-721 on Ethereum, are discussed. Disputes over the legal status of NFTs might end up in court dealing with digital asset rights. The detailed analysis of the steps required for transferring ownership rights to NFTs unveils the complexities inherent in this process. Smart contracts, functioning as automated, self-executing agreements, play a pivotal role in facilitating seamless transactions within the NFT ecosystem. The involvement of smart contracts adds a layer of transparency and efficiency to the buying and selling of NFTs, contributing to the overall legitimacy and security of these transactions. As NFTs redefine the concept of ownership in the digital age, the legal framework must adapt to address the complexities associated with these innovative assets. The future development of NFTs is uncertain, yet it will undeniably impact the future of intellectual property, sparking ongoing discussions and legal changes to ensure a fair and equitable digital environment for creators, buyers, and industry participants.