INTERPRETATION OF NON-FUNGIBLE TOKENS (NFTS) AND BLOCKCHAIN TECHNOLOGY IN INDIA

Abstract

The rise of non-fungible tokens (hereinafter referred to as “NFTs”) has changed the way digital properties operate and as such presents new possibilities for, in this instance intellectual property rights notably copyrights. This paper interrogates how the emergence of NFTs and blockchain technology are challenging, reconstituting conventional copyright law regimes NFTs - unique digital assets with proof of ownership verified through blockchain technology - have swept across an array of industries from art and music to entertainment, providing a new way for creators to both authenticate their work and monetize it online. However, the intersection of NFTs and copyrights raises complexities regarding ownership, infringement, and the scope of rights pertaining to NFT transactions.