On April 9, 2020, Robert Heim, Partner and Co-Chair of the White Collar and Regulatory Enforcement Practice, was featured on the Bloomberg Law podcast episode, "NFTs and Why They're So Hot." Robert discusses how NFTs (non-fungible tokens) function as assets, how they are sold in transactions and how the securities laws may apply to them. He explains that an NFT is a unique token on the blockchain that allows buyers to obtain ownership authentication for digital art work.
Robert notes, the impact on NFT's has been "revolutionary for the art industries." He adds that "the creator of the NFT outlines the rights of the token to the purchaser." Thus, the artist creates the rights of how the NFT's owner can share a piece of artwork. Robert concludes by saying, "How the token will be marketed to consumers will determine how it will be regulated."
Listen to the episode here.
|Heim, Robert G. Partner and Co-Chair of White Collar and Regulatory Enforcement Practice||Partner and Co-Chair of White Collar and Regulatory Enforcement Practice||212.216.1131|