NFTs Recognised by UK High Court as Legal Property: The Boss Beauties Fiasco
Most recently, a landmark case on NFTs has caught our attention. Brought before the UK High Court by owner of two “Boss Beauties”...Learn More
October 25, 2021
We have a few favourite things at Stephenson Law.
GIFs, jargon-free law, and disruptive innovation. Blockchain at its heart is one such disruptive technology with the power to bridge international gaps, reinvigorate creative industries, and demand better of financial systems. That’s why when it comes to blockchain technology, we guess you could call us pretty big fans.
But it’s not just us who’s been sucked into the blockchain craze.
In the last month, an estimated 800,000+ NFTs were sold, totalling to a whopping $1,844,698, 200 in sales. These NFTs ranged from NBA collectibles, to immersive metaverses, to abstract artworks, spanning across a range of functions bespoke to the cryptosphere. However, while the NFT market grows month-by-month, it remains a space that many industries approach with caution.
The reasons for this are numerous. A distrust of new technologies, a misunderstanding of blockchain security, a rumour mill of cryptocurrency scams: just like the dawn of the internet, adoption of blockchain technology has been slowed by a mix of fear and misapprehension.
Despite this, NFTs possess incredible potential that goes far beyond a flash in the pan art-fad. NFTs have the potential to empower international artists, create drastically more reliable transactions, and to transform the digital and financial space entirely. We would know, as many of our clients utilise this boundary-pushing technology today.
Today Stephenson Law hosted a webinar on the A to Z of NFTs, with insights from industry renowned experts including NFTU Co-founder and CIO Alex Golombeck, Women in Blockchain Host Lavinia D. Osborne, and Vaulthill Metaverse founder Jimi Daodu. Hosted by Stephenson Law Head of Blockchain Will Foulkes, the talk was a deep dive on what makes a successful NFT project.
However, if you want to talk the talk… you better walk the walk.
That’s why we’ve taken one small step for blockchain, one great leap for the legal industry, and will be launching three one of a kind NFTs. This trio of NFTs will serve as crypto-art tokens that represent legal advice, making the most of the multifaceted capacities of blockchain technology. The price will be the cryptocurrency equivalent of £250 and £300, depending on the token purchased, and will afford the buyer the right to redeem their NFT for one hour of legal advice on the subjects of financial services Regulation, blockchain, and NFTs, along with the strategy, compliance, governance, and documentation necessary of such a new-fangled technology. Additionally, one of the NFTs will afford the buyer with one-on-one access to our industry renowned founder, Alice Stephenson.
Spearheaded by Stephenson Law’s legal experts, Head of Blockchain Will Foulkes and Head of FinReg Gareth Malna, the project is a result of our love (ok… maybe fanaticism!) for blockchain, our passion for innovation, and our eagerness to show that the reports are true: NFTs are here to stay.
Behind every great NFT project is an NFT lawyer. Find out more about our blockchain expertise here.