Realizing the opportunities of non-fungible token use in the modern intellectual property market

Abstract

Subject. This article discusses the issues of using the capabilities of non-fungible tokens (NFT) to tokenize copyright objects, and regulation of authorship and ownership of NFT objects on existing Internet platforms. Objectives. The article aims to describe the main opportunities and complexities of tokenization of assets using non-fungible tokens in Russia and abroad, and substantiate the need for legal changes in NFT regulation. Methods. For the study, I used the methods of comparison, observation, classification, and analysis of statistical data from leading analytical platforms and blockchain explorers, and Russian and foreign research materials. Results. Based on the assessment of the legal status of non-fungible tokens in Russia and abroad, the article presents legal initiatives to regulate non-fungible tokens both in Russia and abroad. Relevance. The presented NFT tools can be useful for analysts, researchers, specialists in blockchain technology, journalism, film industry, business, mass events, as well as developers, artists, musicians, art historians and ordinary users in establishing the authenticity of art objects and collectibles, implementing applications, patents, certificates and licenses for the product, tokenizing digital goods to prevent fraud and plagiarism, and monitor the execution of financial transactions.