Current rules of Copyright are valid for the NFTs market
The emerging market of non-fungibles is here to stay and will open a wide business opportunity, pointed out, on May 11th, Lucas Mayer, partner of Phonogram.me and Mariana Mello, director of Abramus, who attended the webinar “NFTs: new models for the Copyright Law”, organized by the Copyright and Personality Rights Committee of ABPI. “What will provide reliability to this market are the data to be entered and the form that they are going to be placed”, said Mariana Mello. According to her, although these new technologies are not yet regulated, the legal rules in force are valid. “Buying a phonogram does not make the purchaser a holder, who remains the author”, she said.
Mayer recalled that NFTs – short for non-fungible tokens – registration of ownership of a digital object on a blockchain – can be traded on several platforms since they are interconnected to several other marketplaces. “The NFT, besides making the digital article unique and enabling to assign value to a JPEG, allows us to carry it around in our wallets to sell somewhere”, he said. “This is the beauty of this digital world that, I believe, will be the future”. Ygor Valerio, Ana Erika Marotta Ramos, and Paula Mena Barreto, members of the ABPI Study Committee, attended the webinar.
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