October 18, 2021

Volume XI, Number 291

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October 18, 2021

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Nota Bene Episode 139: What are NFT's and Are They Here to Stay? with James Gatto [PODCAST]

When the artist Beeple recently sold a digital work of art for $69 million, it caught the world’s attention especially because that one-of-a-kind digital art was a non-fungible token (NFT). In this episode, we’re taking a look at this emerging blockchain technology and exploring how NFTs are transforming digital artwork. We’re also discussing the legal ramifications of this new type of ownership.

Joining me for this conversation is Jim Gatto. Jim is a partner in the Intellectual Property Practice Group in Sheppard Mullin’s Washington, D.C. office. He is also Team Leader of the firm's Blockchain Technology and Digital Assets team, and its Social Media and Games industry team. He also is Team Leader of the firm's Open Source team.

What We Discussed in This Episode:

  • What are non-fungible tokens?

  • What makes a token “non-fungible”?

  • Given the ease of duplication, what makes NFT’s so valuable?

  • How might the use of NFT’s benefit performance artists?

  • Will NFT’s ever become simple enough for everyday people to utilize them?

  • After someone creates an NFT, where are some of the online marketplaces they can list and market it on?

  • Are private investors moving into this space?

  • How can NFTs be used with physical objects?

  • What are the legal implications of creating and/or buying NFTs?

This episode was originally published on May 11, 2021 as Episode 125. 

Copyright © 2021, Sheppard Mullin Richter & Hampton LLP.National Law Review, Volume XI, Number 229
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About this Author

 Michael P.A. Cohen Partner DC Antitrust and Competition
Partner

Michael is a partner with the Antitrust and International Competition Practice Group in the firm's Washington, D.C. office.

Areas of Practice

Michael began his career as an Assistant Special Prosecutor, investigating and prosecuting organized crime involvement with the failure of local financial institutions in the early 1990s. After his government service, Michael joined the historic Washington, D.C. antitrust firm Howrey & Simon, where in 1996, he became one of the youngest partners in that unique firm’s history. In 2003, Michael joined Heller Ehrman as...

202-747-1958
James Mattinson Blockchain Technology and Digital Currency Lawyer Sheppard Mullin Washington DC
Partner

Jim Gatto is a partner in the Intellectual Property Practice Group in the firm's Washington, D.C. office. He is also Co-Team Leader of the firm's Digital Media Industry and Social Media and Games Industry Teams, Blockchain Technology and Digital Currency team, and Team Leader of the firm's Open Source Team. 

Areas of Practice

Mr. Gatto leverages his unique combination of nearly 30 years of IP experience, business insights and attention to technology trends to help companies develop IP and other legal...

202.747.1945
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