London Defender

The Daily Mirror of the Great Britain

Is NFT a new type of intellectual property?

tiara, nft, tiara coin,

NFT is not just digital items on blockchain. These unique tokens are characterized by many technical and artistic features that together form a kind of digital asset. The basic technical composition of the NFTs inherently protects the work from manipulation, copying, and reproduction. It also allows NFT creators to program rules into irreversible tokens. Such technical features allow NFT holders to buy and sell their tokens on global markets without fear of counterfeit goods and fake consumers. However, blockchain’s conveniences will not shield artists, buyers, and sellers from the fundamental tenets of intellectual property (IP) law.

The IP law governs the intangible creations of the human mind and includes copyrights (art protection), patents (inventions protection) and trademarks (trademarks protection). The most relevant aspect of IP law in the current NFT ecosystem is copyright, which gives copyright owners a requirement of legal effect to control the use and reproduction of original works of art, literature, and literature, theater or music.

Catching up with the NFT trend, Tiara offers a friendly platform to creators, and allows consumers to access digital assets that were scarce and not previously available.

Rights of creators

Tiara has created a new marketplace for artists to sell their work in a medium of artistic integrity. It facilitates a never-ending chain of ownership, which exists for a long time in the original part that already explicitly exists on the blockchain. Individuals can trace the origin of the NFT products.

Irreplaceable designs can also strengthen the artist’s moral rights such as the right to preserve the integrity of the work, even after selling or receiving commissions. This inherent right can sometimes allow the creator to choose the context in which a previously purchased work can be exploited.

Rights of consumers

Consumers are attracted to NFTs because they provide verifiable ownership of unique and scarce items. The attractiveness of such assets is evidenced by substantial market growth (NFT market triples by 2020 to $250 million) and rapid adoption by mainstream and age-old institutions ranging from NBA to chip Pringles.

The Tiara platform performs an important function of acting as the secondary marketplace for the resale of tokens. Secondary markets such as Tiara are unique to the world of art and collectibles as it allows both creators and consumers to capture the resale value of NFT in parallel without relying on middlemen.

The NFT marketplace Tiara will offer Intellectual property rights to a user through a Proof of Provenance.

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