On October 1, 2021, Partner and Co-Chair of White Collar and Regulatory Enforcement Practice Robert Heim was featured in the Bloomberg Law Podcast regarding the legal battle between Jay-Z and Damon Dash. Robert explains that the legal dispute stems from Damon Dash’s alleged creation of an NFT of the copyright to Jay-Z’s debut album, “Reasonable Doubt,” which was marketed as ownership of the album. Jay-Z claims that Damon Dash has no ownership of the album, therefore he cannot create the NFT and is in a violation of Jay-Z’s copyright. Damon Dash claims the NFT he created was based on his percentage ownership of the record company that produced the album, not on alleged ownership of the copyright to the album. However, Robert highlights Damon Dash's announcement for selling the NFT as the key basis for the lawsuit, because it was advertised as selling part of the copyright of  “Reasonable Rights,” in contrast to Damon Dash's argument.

Robert emphasizes the technical nature of digital art, saying that it opens up room for complications in verifying a purchase and creates a “buyers beware environment.” He notes that, “If you’re going to be buying an NFT, you really have to investigate what digital assets are behind the NFT, and make sure that the digital creator of the NFT has the right to create and sell the NFT based on the intellectual property rights.” 

Robert has significant experience representing clients in regulatory investigations involving digital assets and related litigation.

Listen to the podcast here.