Newsletter Edition 35 - April 2022


Challenges and opportunities in the world of NFTs

There are many opportunities in the world of NFTs (non-fungible tokens), but it is necessary to study this market before venturing into it, warned the CEO of NFTrend, Victor Armellini, in a webinar held on April 27, about “Entrepreneurship, IP and NFTs”. The debate, held in celebration of World Intellectual Property Day, had the lawyer Tais Capito, a member of ABPI’s Council, as its mediator, and the support, besides ABPI, of the GIPI – Interministerial Intellectual Property Group of the Ministry of Economy, the BPTO and WIPO.

When approaching the topic of NFTs – a digital asset that represents objects from the real world, such as art, music, game items, and videos, which are traded online, often in digital currencies – Armellini showed the performance of NFTrend, a company specialized in creating and marketing this digital asset. “We created a system that simplifies NFTs transactions, thus creating the first Brazilian marketplace for NFTs”, he said. However, he added, one must be careful before entering this market, as it is not yet regulated, and there are many frauds and counterfeits.

Many of these risks were addressed in the intervention made by Tais Capito in her presentation on “Law and NFT: a multitude of challenges and opportunities”. She also pointed out the many risks of this market. According to research at OpenSea, the American market for non-fungible tokens), 80% of these digital assets are fraud or plagiarism.

To watch the webinar, access the ABPI YouTube Channel by clicking here.