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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 discuss the legal issues in more detail, NFT licensing strategies for companies, and will also discuss in detail the application of securities law to NFTs, the role of entertainment unions for NFTs and licensing strategies for NFT projects
The NFT Legal Deep Dive series consists of three-part webinars.
The first webinar provides an overview of NFT legal issues and NFT strategies; The second webinar provides a deep dive on the major issues involving NFTs focusing on copyright, trademark and UCC; The third webinar discusses in detail the application of securities law to NFTs, the role of entertainment unions for NFTs and licensing strategies for NFT projects.
During this third webinar, we will discuss the application of three major legal regimes to NFTs, including:
Key topics to be discussed:
Date: May 24, 2023
Mark F. Radcliffe | DLA Piper
Martin Bartlam | DLA Piper
Martin Bartlam is one of the Co-Chairs of the Blockchain and Digital Asset Group at DLA Piper. He has deep experience in financial service transaction, including structured credit and asset management and has been focusing on transactions involving digital assets. He is the General Counsel of Global Digital Finance trade association.
Katherine Imp | DLA Piper
Katherine Imp is a transactional attorney in the Entertainment Transaction Practice at DLA Piper. Her practice focuses on entertainment transactions, representing production companies, studios, networks and independent financiers, producers, sales agents and distributors in the financing, development, acquisition, production, distribution and exploitation of motion picture, television, commercial and new media content. She has extensive experience in working with entertainment unions and is applying that experience to NFT transactions.
Michael Fluhr | DLA Piper
Michael Fluhr is a lawyer who works with companies both on transactions and disputes in a wide variety of complex, commercial issues. He has long worked in the financial sector and is focusing on the blockchain and digital asset space, where he advises and defends exchanges, issuers, NFT platforms and creators, and related companies. Michael is an author and editor of the book “Cryptocurrency and Digital Asset Regulation: A Practical Guide for Multinational Counsel and Transactional Lawyers,” published in 2022 by the American Bar Association.
I. Securities law, including both domestic and foreign | 12:00pm – 12:20pm
II. Entertainment Unions, many NFTs include sophisticated content developed by union members such as directors, writers and actors | 12:20pm – 12:40pm
III. License strategy, including integrating this strategy with your business strategy | 12:40pm – 1:00pm