Event by Laura Rys: The Rise of Non-Fungible Tokens Means Demand for IP Rights
Online
With
the rise of blockchain, non-fungible tokens (NFTs) have become increasingly
popular. NFTs are essentially digital assets that can only exist in specific
quantities. This is reflected in the way they’re represented — for example, a
digital painting can be represented by a unique string of characters called an
ERC721 token. In many ways, NFTs are similar to domain names. Just as an
individual might not want their personal domain name associated with every
website they create, the same is true of NFT owners. While there isn’t much
demand yet for this type of digital asset, it could represent value once demand
increases and creators begin offering exclusive rights to use them using
intellectual property (IP) law.
Experienced securities law attorney Laura Rys, who has over 26 years of experience in legal
matters, will hold an online event in
which she will share everything you need to know about NFTs and the demand of
IP rights.
About Laura Rys
For
26 years, Laura Rys has practiced securities law with an independent boutique
firm specializing in real estate financing, life insurance premium financings,
and initial public offerings. Saint Armand Ventures has honored her as New York
Businesswoman of the Year.
Laura
provides financial transaction assistance to family offices, corporations,
foundations, and charities.
She
works at the Warren Law Group in New York City. She previously worked as a solo
attorney in New York. Through solo practice, she was able to expand her
corporate and litigation practice and build a solid client base. Laura has also
prosecuted securities arbitrations in addition to advising entrepreneurs on
expanding their businesses.
Moreover,
Laura Rys holds a Bachelor of Arts degree in English from Seton Hall University
South Orange NJ, as well as a Juris Doctor degree from Seton Hall University
Newark NJ.
Event Topics:
What is a Non-Fungible Token?
A
non-fungible token (NFT) is a digital asset that can only exist in certain
quantities. Just like a car or a painting, the digital asset can be represented
by a unique string of characters. Unlike fungible tokens, which are divisible,
and therefore interchangeable, NFTs are unique and therefore can only be owned
by an individual. As such, the value of NFTs is based on the scarcity of each
token. Laura Rys points out that NFTs can be used to represent a large number of
assets, including real-world items. For example, a digital painting of a sunset
could represent an ERC721 token. A digital painting of a mountain could
represent a different type of token. NFTs are often referred to as
“non-fungible tokens” or “NFTs,” but the latter is perhaps more appropriate.
Non-Fungible Tokens: The Future of Intellectual Property Rights?
NFTs
are becoming increasingly popular as a new kind of digital asset. However,
Laura Rys claims that the future of NFTs lies in their use as an extension
of intellectual property (IP) law. The value of many NFTs is based on the
scarcity of a particular asset. The greater the scarcity of a specific asset,
the greater the value of the associated token. As an increasing number of
creators and investors begin to create and trade NFTs, demand for IP rights in
NFTs will increase. Owners of IP will want to ensure that their rights are
protected in these new types of assets. The same is true of IP owners who
choose to trade and use NFTs.
Demand for IP Rights in Digital Assets
While
the use of NFTs is relatively new, the demand for IP rights in NFTs has been
around for some time.
“In
fact, the use of NFTs to represent IP has been around for many years. NFTs have
long been used to represent licenses,” indicates Laura Rys, who has
extensive experience in securities and business law.
In
the music industry, digital assets representing licenses are commonly traded as
non-fungible tokens on various blockchain platforms. These tokens are used to
represent both the right to use the music and the right to profit from its use.
As the use of NFTs continues to grow, demand for IP rights in NFTs will only
increase. NFTs are becoming increasingly popular as a new type of digital
asset. However, the demand for IP rights in NFTs has been present for some
time. As the use of NFTs continues to grow, demand for IP rights in NFTs will
only increase.
Copyright Holders Demand Exclusivity
In
addition to representing physical assets, Laura Rys shares that NFTs can
also represent intangible assets, such as copyrights. Like IP, copyrights can
be protected by granting a certain number of exclusive rights to use them for a
certain period of time. For example, if a digital artist creates a digital
painting of a mountain, the token representing the mountain could represent a
digital asset that is a digital painting of that mountain. The token could also
represent the copyright to the work. Once created, the copyright could be used
to control the rights to use the digital asset. In this way, the copyright acts
like a lock: it controls access to the digital asset by preventing others from
using it. However, the copyright would allow for the restriction of use to
certain individuals for a certain period of time.
The Bottom Line
NFTs
are a relatively new type of digital asset that represent specific assets, such
as physical items and copyrights. The demand for IP rights in NFTs will only
increase as the demand for these new types of digital assets grows and
investors begin trading these assets. NFT owners who create these types of
assets can protect their IP by granting exclusive rights to use them for a
certain period of time.
You can join this event for free on Laura Rys’
YouTube Channel.
Details
Costs: n/a
Event type: Corporate events
Registration information: n/a
Event website: https://laurarys.com/
Posted by: Laura Rys
Other events you might be interested in:
