2022.01.24 03:48 yokesh351 Do NFTs have legal aspects? We tell you how to protect them and use them for economic purposes
They say that for NFTs to increasingly transcend the art market, new business models must be enabled.
The “ Non-Fungible Tokens ” (NFT) are taking an increasingly growing role in the circulation of economic goods and services in general. In this context, from Untitled SLC, a legal services boutique specialized in international estate planning and the establishment of investment funds, they have shared with Cointelegraph en Español some points that should be considered relevant.
“NFTs came to the crypto world a couple of years ago thanks to the use of the same technology that allows the creation of cryptocurrencies. The value of virtual goods is estimated to exceed $1 billion in the United States alone, according to a report published last year, cited by the Financial Times. They also mentioned that collectors from all over the world are digitizing their items in order to store them more efficiently, but also tempted by the robustness of the blockchain to corroborate the authenticity and ownership of their collections.
According to what they cite, when one thinks of a person's wealth or fortune, it is usual to relate it to cash, investments, properties, automobiles, jewelry, art, among others. However, they mention that for some time, a new type of asset began to take center stage, the so-called digital assets, within which NFT development are the most recent to be incorporated as an objective of people's wealth planning.
Daniela Baldovino, who serves as Global Head Corporate & Funds of Untitled SLC, highlighted that these assets come with their own set of risks and specific considerations, in terms of their preservation, protection, transaction costs and possibility of legacy within, for For example, an inheritance.
“NFTs are different from generic or fungible tokens, which are interchangeable with each other without any distinctive feature or particularity in what they represent. Both, however, are types of crypto assets that will be stored in a wallet or virtual wallet, on which we must pay special attention when planning our assets given the great value they can reach, "added Baldovino.
Legal aspects For Baldovino, we will soon be able to see the application of NFTs to the ownership of even more valuable and complex assets. She believes that this will happen as long as its condition expands to be an instrument to guarantee the sole ownership of any asset. “The prospect is that they increasingly transcend the art market and even beyond it, enabling new business models for real estate, e-sports, investments, etc.,” she said.
He highlighted that in the year 2021 different novelties emerged that further popularized the existence of NFTs. “Lionel Messi presented his collection of NFTs called 'Messiverse', which represents digital works, and also Cristiano Ronaldo launched his own collection. There are already some musical bands that have released, or are about to release, their new works directly in NFT format and there are others that are offering themselves without intermediaries, through the use of blockchain technology”, he added.
Baldovino mentioned that before acquiring an NFT, the interested party must exhaustively analyze its content, basically to know if he is only acquiring the work or if it includes or does not include rights of exploitation.
"In the first case, the NFT development will be an object to collect, while in the second case, it must be taken as an asset for economic exploitation," he explained.
While NFTs are a tokenized digital representation of a real work, it must be taken into account that when a digital work is transmitted - Baldovino commented - the rights that the author has over the work are not necessarily transmitted, in the same way that Whoever sells a painting does not transfer to the buyer the exploitation rights of the painting, unless, for example, a contract of transfer of rights has been made.
Likewise, he clarified that in these conditions it is important, then, to attribute to the token those rights of exploitation of the work that they want to transmit and the way to do it. It must be taken into account "if it is exclusive or not, even if it is valid for the whole world or only for some jurisdictions, for how long the rights and the costs or commissions for each transfer are transferred."
Having said all of the above, for Untitled SLC it is always necessary to clarify that two main categories emerge from this topic: on the one hand, development of NFTs that have the status of utility token and serve to intervene in a platform to acquire goods and services on it , type airline miles. The other category is made up of NFTs that represent an existing asset, tangible or intangible, digital or material, be they shares, works of art, music, rights, a drawing, among others.
Customer Help Request “There is also the case of clients who come to our study asking us for help because they aspire to issue NFTs as part of a specific project. In that case, we are going to have to define how we are going to structure the issuance of those tokens: who is going to be the initial owner of the project that is going to issue the tokens, what will be the operation of their sale to third parties, if that activity It will be regulated or not, that is, if it needs a license, or a permit from the regulatory body of each jurisdiction, which must surely be requested if the activity that this NFT involves is an investment”, Baldovino commented.
Finally, he pointed out that among the different options that are being considered for these cases, the key is to define, in addition, if the company that issues the tokens on the specific platform is going to be the same one that is in charge of selling them or if they are going to be transfer to another to take over this task.
“All this is because the regulations are changing or there are no regulations, so we do not know for sure the regulatory changes that countries can implement to allow all activity related to NFTs. At least at this stage, we recommend separating the activities involved: issuance, sale, holding of intellectual property rights, among others, in different structures to reduce the risks of the project”, concluded Baldovino.
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2022.01.24 03:48 WillBegForKarma the NFL deciding their overtime rules
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2022.01.24 03:48 YankeeFPS The least toxic, good teammates, everyone pto. Diamond in the rough lobby.
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2022.01.24 03:48 Preshlolo Advice On The New Meal Plans?
So my family and I are planning our very first trip to Disneyland during the middle to end of September. We are planning to stay at two rooms at the art of marvel hotel and that, plus the price of travel, is really raking up our budget.
In terms of dining, we thought about doing a half board plan so we can have lots of time for rides, but decided on going for 4 days so we could go at a slower pace. With this extra time, and it being our first ever trip, we thought trying the full board would give us a chance at visiting as many different restaurants as possible, especially as we tend to be quite big eaters.
Which plan is more worth the price? The full board, full board extra plus, or half board? Or would paying out of pocket and scrapping a meal plan all together be the best way to go?
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2022.01.24 03:48 Happy-Cat-604 Pair of Antique Chinese Vases
2022.01.24 03:48 sutcherROBLOX W/L? Me: Hallowscythe / Them: Batwing + Fang
2022.01.24 03:48 Maxxjulie So we got a new cap2 coach and team lead both of whom were associates that got promoted. They like to hang out in the office for a while I notice several times a day. Interesting leadership style
Our previous supervisors that were good checked on their associates under them and also worked as well. These guys are already acting like long time managers hanging in the office bullshitting. They just got promoted less than a month ago 😂
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2022.01.24 03:48 onlyfanslinkz Aria Khan @ariakhan00 OF PAck
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2022.01.24 03:48 According-Donkey4310 Afraid of spiritual guides and spirit world in general
I believe that this experience must incredibly enrich our life. I know that our spiritual guides are here to help us, but I'm just afraid of the spiritual world. I know that we actually have nothing to fear because we are also spiritual beings, but unfortunately it is a new and unusual experience for us. I wonder what your experience with spiritual guides are and why not be afraid of them. They are all beings of light I HOPE. Fear of the spiritual world is unfortunately very strong for me. I believe they are here to give us the world, but the fear is simply a bastard.
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2022.01.24 03:48 Affectionate_Okra_20 Episode 441 upload?
2022.01.24 03:48 RyanBurnettNZ [Homemade] Smoked Pit Barrel Ribs
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2022.01.24 03:48 Frequent-Extreme-881 Where do you guys keep your AirPods? It’s soo weirdly bulging if I keep them in my pants/jeans pocket.
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2022.01.24 03:48 TrueUmbreon1 P 👍
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2022.01.24 03:48 Financial-Aioli-601 What’s your biggest regret ever?
2022.01.24 03:48 Emperor_Sleep What if Byleth never meddled with the game's events?
This has been a what-if scenario that has been on my mind for a while. During the course of the game and any route you choose, Byleth is the defining character. Their character became the catalyst for how the characters develop, how the war ends, and what the age after will be. Byleth is the wild card, the unpredictable factor, the one thing that literally decides the future of Fodlan.
So what if Byleth never meddled with what happened?
What if Byleth and Jeralt weren't in Remire during that fateful day and instead made camp outside the village? What would the ripple effect be?
Well Kostas could have butchered the three lords then and there which would be anti-climactic so let's say Alois got to them before Kostas could do a thing.
2022.01.24 03:48 Garlic_Overload me_irl
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2022.01.24 03:48 ThatOneKrazyKaptain [WP] You’ve been Isekaied 6 different times in just two years, every time you get out of one who somehow stumble into another before you have a chance to get home.
2022.01.24 03:48 LogisticLlama Defence Shitposters transcend national boundaries
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2022.01.24 03:48 CandleKing-K I recently saw this product on YouTube. Is there anyone who have used this?
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2022.01.24 03:48 Arctic_Gnome Found this Faerûn calendar posted a while back, and I added moon phases so you know where there is moonlight and when sacrifices to Auril happen.
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2022.01.24 03:48 miss_shrimp Has anyone done 3 rounds of accutane?
Hi! Just wanted to see if anyone has experience doing 3 rounds of accutane? I’ve been on it twice before, but here we are, three years later and my acne is back again. I was on 40mg for 6 months both of my previous times being on it. I’m wondering if I went on it a third time, maybe at a higher dose, I could really nip it in the bud?
Let me know if you’ve had experience going on it this many times. Thanks!
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2022.01.24 03:48 WhiskyholdtheE Defkoptas. Are they worth it?
Just a discussion about Ork Defkoptas. I am a newer Ork player, and man, Defkoptas feel very expensive? Am I missing something? I can get 6 Squighog boyz for half the price.
Any experienced people with some opinions?
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2022.01.24 03:48 Educational-Let-1027 My wife’s aunt is always rude to me
I’ve been with my wife for five years, married for two. She and I met at university. When I started going to her family events, everyone was really welcoming, except for her aunt, my mother in law’s sister.
This aunt is very annoying and condescending, especially when it comes to our social class. My wife’s family has money. My mother in law’s family has a large ranch in Mexico, which they’ve owned for three hundred years. They sell avocados and agave. My father in law’s family was well known for exporting alcohol, and they were part of the political aristocracy in Central America. My wife has grown up in a life of privilege; going to private school, world traveled, etc.
Me, on the other hand, am essentially “white trash”. I grew up in the South. I never struggled for money, but my parents weren’t the best.
One time, at a family party, one of my wife’s cousins asked me what I liked to do. I listed some things off, including hunting. The aunt then asked “so what do you think about the Columbine shooting?” That question caught me so off guard, but thankfully another cousin shut her up.
During our wedding, the aunt came up to me during the reception. My wife was greeting some of her friends. The aunt told me “you’re lucky to marry someone with good genes like (wife’s name)”. Me: “thanks”. Aunt: “if you two have children, hopefully they’ll get her looks”.
She always makes little sly comments about me. I don’t know what it is that she doesn’t like about me. Maybe that I’m a white Southerner? She’ll make fun of my accent sometimes. I just don’t know how to get her to stop. She talks crap about mostly everyone in the family, but I get it the most
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2022.01.24 03:48 daddydablin Holiday Squad