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In Digital Media & Content

Launching an NFT project: Lifecycle and risk mitigation

by and 7 Mins Read

NFTs (Non-fungible Tokens) continue to grow in popularity, but the inherent misalignments in speed between legislation and innovation present a major challenge. NFT project developers, companies interested in using NFTs as an entry point into the web3 world and other stakeholders face legal challenges regarding regulatory matters, aligning these projects with more traditional legal requirements (such as eCommerce related consumer laws) and potential IP (Intellectual Property) breaches. Although there are few legal precedents for NFTs,…

In Brand Management

International: What do the first two NFT trademark infringement cases signal for brand owners worldwide

by , , , , , , , and 10 Mins Read

February 2023 saw a landmark decision for brand owners and digital assets, as a first instance court decided the first US case to consider the application of trademark rights to digital artworks linked to Non-Fungible Tokens (NFTs). The decision (detailed in our alert here) centered around “MetaBirkins”: a collection of unique virtual tokens linked to digital faux-fur versions of the coveted Hermès Birkin bag. Hermès sued Rothschild for trademark infringement, dilution and cybersquatting, and the…

In Tax for Techs

Taxes become more complex when entering the metaverse

by and 6 Mins Read

This article was first published by Bloomberg Tax on 13 September 2022 here. A growing number of companies are moving, or are considering moving, to the metaverse ecosystem to create an immersive digital experience for users. When exploring a move to the metaverse, companies should consider the high-level tax aspects when doing business in this virtual environment. Key Takeaways The metaverse ecosystem is attracting businesses across industries and is no longer limited to companies with…

In Cybersecurity

Metaverse Creators: Beware these Potential Legal Pitfalls

by 6 Mins Read

Whether you are creating new virtual worlds, realities or universes, the digital assets that populate them, or the infrastructure that enable individuals to interact and transact in them, there are numerous legal issues that you may have to navigate. Here are four potential pitfalls that creators of and in the metaverse should avoid. Foregoing Legally Enforceable Contracts. Relying on smart contracts, dapps and other programs exclusively expressed in code to govern transactions between parties can…