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As art moves into the digital space, it’s become increasingly difficult to ascertain the ownership and uniqueness of a piece.
Over the past few months we have seen an explosion in the creation and dealing of NFTs (non-fungible-tokens) often associated with art and other collectibles. These NFTs are backed by cryptography and blockchain which both ensure their uniqueness and scarcity, meaning that if you buy an art NFT, no-one else can own the same piece.
We spoke with blockchain enthusiasts, IP experts, and digital art entrepreneurs to tackle this growing market, paying close attention to both the benefits and technical complexity of this strange new digital world.
Our Head of Blockchain Will Foulkes and our Head of IP Laura West were joined by co-founder of KnownOrigin Labs and BlockRocket, Andy Gray alongside digital art expert Brendan Kemp.
The webinar began with an introduction from our panellists, moving on to focus on the evolving world of art, and the IP issues incumbent with the digital space. Taking questions from the audience, the webinar answered the following:
– What are NFTs? 04.30
– What are some of the IP issues surrounding this new medium? 10.42
– Are people understanding the underlying IP when they engage with digital art? 12.31
– As an artist Brendan, what’s been your experience? 16.15
– What was the moment you thought, “This is something I want to do?” 20.02
– Tracking back ownership is another IP issue for this scene: how do you prove these people are providing their original works? 21.35
– Why has this NFT explosion happened? 25.15
– Have you been contacted by any well known people who think this is just an easy way to make money? 28.50
– Do you think it’s dangerous for these people getting hooked by the ongoing revenue, as opposed to viewing it as a longterm investment? 32.00
– What are the benefits of getting involved in this space? 35.28
– Tell us a little bit about the financial inclusion that can come with NFTs? 38.25
– How do we include people who are non technical into this world? 40.24
– Where do you see this space going in the next one to five years? 43.16
– There are different standards around using NFTs, can you give us a simple explanation around different standards and what that actually means? 47.27
– What would you advise someone who is already well known on the web, who wants to get into the NFTs? 49.11
– Do you have any resources you can point people to? 50.30
Find Will on LinkedIn
Find Laura on LinkedIn
Find Andy on LinkedIn
Find Brendan on LinkedIn
PLEASE NOTE – The above webinar took place on Thursday 29th April at 10:00pm GMT. Updates may have been introduced after this webinar was recorded.
If you have any questions please contact hello@stephenson.law.