Law Commons^™

Note: Nft Art Heists: Analyzing Nfts Under U.S. Law And International Conventions On Art Theft, Kevin D. Brum

Notre Dame Journal on Emerging Technologies

The non-fungible token (“NFT”) is a type of digital asset that is usually associated with an image and has a unique identifier. An NFT cannot be copied or reproduced, and records of NFT transactions are stored on the blockchain. NFTs are a recent innovation and have swept the world by storm. NFT sales tripled from 2019 to 2020 and DappRadar—the premier platform for hosting decentralized NFT portfolio management applications—estimates that NFT sales hit twenty-five billion dollars in 2021. Many NFTs appear to be artistic works and, either individually or in a collection, can be given away for free, sold for …

Property As The Law Of Virtual Things, Joshua A.T. Fairfield

Scholarly Articles

Property law in the twentieth century moved from the law of things to the law of rights in things. This was a process of fragmentation: Under Hohfeldian property, we conceive of property as a bundle of sticks, and those sticks can be moved to different holders; the right to possess can be separated from the record ownership right, for example. The downside of Hohfeld's model is that physical objects—things—become informationally complicated. Thing-ness constrains the extravagances of Hohfeldian property: although we can split off the right to possess from the right to exclude, use, destroy, copy, manage, repair, and so on, …

Blockchain And The Genesis Of Creative Justice To Disintermediate Creativity, Tonya M. Evans

Faculty Scholarly Works

Historically, the art market has been shrouded in opaqueness and exclusivity, permissioned access and asymmetry of information that rivals the systemic ills of legacy financial markets that led to the Great Recession. Moreover, legacy art market stakeholders have, through the centuries, been entrenched in elitist and inequitable notions of art that excluded Black artists. These legacy intermediaries have also consistently demonstrated a deep and enduring disdain for any art connected to the digital world. That is, until the age of COVID-19 and the dramatically increasing value and dominance of the non-fungible token (NFT) market.

This Essay explores why, and how, …