Non-fungible tokens (“NFTs”) have grown dramatically in the last three years. The sales of NFTs have expanded dramatically in 2021 with sales exceeding $22 billion in trading volume according to DappRadar and this growth continued into the first quarter of 2022, with NFT sales of $12.4 billion. However, like most of the crypto industry, the trading in the remaining quarters dropped significantly. The total volume of NFT sales remained relatively similar flat, but the number of unique purchasers increased dramatically with the first quarter of 2022 reaching 3.18 million (a 675.88% increase over 2021). The Collins English Dictionary declared “NFT” the word of the year for 2021, and use of the word in 2021 increased more than 11,000 percent over 2020. NFTs have a wide range of uses including gaming, financial, collectibles, art, utilities, and metaverse.
NFTs will be a critical part of the digital strategy of all consumer facing companies as well as the opportunity to develop and implement new business models. Last year saw major brands launching NFT collections from Starbucks to Adidas. Yuga Labs, the developer of Bored Ape Yacht Club, raised $450 million at a valuation of $4 billion. This webinar will be the first of three webinars about NFT legal issues and NFT strategies. This webinar will provide an overview of NFT technology, legal issues, and strategies. The second and third webinars will discuss the legal issues in more detail and NFT licensing strategies for companies.
During this webinar, we will discuss how NFTs operate, provide an overview of critical legal issues and NFT strategies, including:
Key topics to be discussed:
How NFTs operate
Critical technology issues for NFTs
Critical legal issues, including securities law, copyright, trademark, and UCC
Date: May 10, 2023
Mark F. Radcliffe | DLA Piper
Tom K. Ara | DLA Piper
Tom is the Global and US Co-Chair of the Media, Sport and Entertainment practice at DLA Piper. Tom has received wide recognition in the media and entertainment industry for his representation of the top-caliber clients that look to him for their most important transactions, including those involving emerging technologies transforming the industry. Tom was one of a few Hollywood lawyers recognized by Variety Magazine as a Variety500 Honoree. He has consistently been recognized by Variety as a top “Dealmaker” and by the Hollywood Reporter as a “Power Lawyer.” He is frequently quoted by leading industry publications and financial news outlets such as The Wall Street Journal, Financial Times, Bloomberg and many others on his industry insights and expertise in the Web3 arena, including NFTs and the Metaverse.
I. How NFTs operate | 12:00pm – 12:15pm
II. Critical technology issues for NFTs | 12:15pm – 12:30pm
III. Critical legal issues, including securities law, copyright, trademark, and UCC | 12:30pm – 12:45pm