Non-fungible tokens (NFTs)

What is a non-fungible token?

A non-fungible token (NFT) is a digital asset that represents ownership of a unique item or piece of content such as a piece of art, a video game item, or a collectible. Unlike fungible tokens such as cryptocurrencies each NFT is unique and cannot be exchanged for another NFT on a one-to-one basis because they have different attributes or qualities. NFTs are created using blockchain technology, which allows for the creation of a secure and transparent Ledger of ownership and provenance. This makes it possible for creators and collectors to verify the authenticity and ownership of an NFT and to trade it on various marketplaces.

Are NFTs likely to infringe intellectual property rights?

Non-fungible tokens (NFTs) are digital assets that are unique and cannot be exchanged for another asset of equal value. NFTs can represent various types of digital assets such as at work, music, videos, logos, or other digital content. Whether or not NFTs infringe intellectual property rights depends on various factors, such as the ownership and rights associated with the underlying digital asset, and specific laws governing intellectual property. If the underlying digital asset is owned by someone else, creating an NFT of that asset without permission could be considered copyright or trademark infringement.

Is it possible to monitor non-fungible tokens to detect potential brand infringement?

Yes, it is possible to monitor non fungible tokens (NFTs) to detect potential brand infringement. NFTs are unique digital assets that can be created and traded on blockchain networks. The ownership and provenance of NFTs can be traced on the blockchain, which makes it possible to monitor the use of trademarks and copyrighted material in NFTs. IP Twins provide tools and services to monitor NFTs for brand infringement. We can scan NFTs for images, logos, texts, and other identifying trademarks associated with a brand.

What is minting?

Minting an NFT or a blockchain domain is the process of writing a digital item to a blockchain (such as Arbitrum, Ethereum, Polygon or Solana). Writing in a blockchain corresponds to four principles specific to NFTs and cryptodomains: immutability, uniqueness, authenticity and ownership.

How can trademark owners enforce their rights against NFTs?

Enforcing trademark rights against NFTs can be challenging because NFTs are relatively new technology, and the legal landscape is still evolving. However, there are several steps that trademark owners can take to protect their rights.

  1. Monitor the marketplaces. Trademark owners should monitor the NFT marketplaces for any unauthorized use of their trademarks. IP Twins help brand owners to monitor the main NFT marketplaces.

How can trademark owners definitely remove NFTs infringing their brand?

Due to the principle of immutability of cryptoassets, in the current state of technology and legislation, only the owner of the blockchain domain or NFT concerned has the power to “burn” the latter in a definitive manner. Therefore, the IPR owner must obtain a court injunction against the holder of the infringing cryptoasset. For its part, IP Twins can detect infringing blockchain domains/NFTs and help IPR owners to remove offers to sell infringing cryptoassets on intermediation platforms such as OpenSea.

What is OpenSea?

OpenSea is the largest intermediation platform that connects buyers and sellers of NFTs and blockchain domains.

Brand protection service against blockchain domains and NFTs

We work with major blockchain marketplaces to monitor, detect and take down blockchain domains and NFTs that infringe your trademark rights.

Disclaimer: DNS domain names have been around for decades. The technicality of traditional domain names and the Domain Name System (DNS) has been considerably simplified over time to facilitate the manipulations necessary for the life of a domain name. IP Twins draws your attention to the fact that blockchain domain names significantly differ from a technical point of view. You should be aware that blockchain domain names and Web3 are in their babyhood, and at this stage, the manipulation of these new domain names and their implementation in projects involving websites and emails remain challenging. Despite these technical considerations and given the lack of dispute resolution methods similar to the UDRP, we advise companies at risk of being victims of cybersquatting to reserve blockchain domain names identical to their brands.

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Discover non-fungible tokens

What is a non-fungible token?

A non-fungible token (NFT) is a digital asset that represents ownership of a unique item or piece of content such as a piece of art, a video game item, or a collectible. Unlike fungible tokens such as cryptocurrencies each NFT is unique and cannot be exchanged for another NFT on a one-to-one basis because they have different attributes or qualities. NFTs are created using blockchain technology, which allows for the creation of a secure and transparent Ledger of ownership and provenance. This makes it possible for creators and collectors to verify the authenticity and ownership of an NFT and to trade it on various marketplaces.

Are NFTs likely to infringe intellectual property rights?

Non-fungible tokens (NFTs) are digital assets that are unique and cannot be exchanged for another asset of equal value. NFTs can represent various types of digital assets such as at work, music, videos, logos, or other digital content. Whether or not NFTs infringe intellectual property rights depends on various factors, such as the ownership and rights associated with the underlying digital asset, and specific laws governing intellectual property. If the underlying digital asset is owned by someone else, creating an NFT of that asset without permission could be considered copyright or trademark infringement.

Is it possible to monitor non-fungible tokens to detect potential brand infringement?

Yes, it is possible to monitor non fungible tokens (NFTs) to detect potential brand infringement. NFTs are unique digital assets that can be created and traded on blockchain networks. The ownership and provenance of NFTs can be traced on the blockchain, which makes it possible to monitor the use of trademarks and copyrighted material in NFTs. IP Twins provide tools and services to monitor NFTs for brand infringement. We can scan NFTs for images, logos, texts, and other identifying trademarks associated with a brand.

What is minting?

Minting an NFT or a blockchain domain is the process of writing a digital item to a blockchain (such as Arbitrum, Ethereum, Polygon or Solana). Writing in a blockchain corresponds to four principles specific to NFTs and cryptodomains: immutability, uniqueness, authenticity and ownership.

How can trademark owners enforce their rights against NFTs?

Enforcing trademark rights against NFTs can be challenging because NFTs are relatively new technology, and the legal landscape is still evolving. However, there are several steps that trademark owners can take to protect their rights.

  1. Monitor the marketplaces. Trademark owners should monitor the NFT marketplaces for any unauthorized use of their trademarks. IP Twins help brand owners to monitor the main NFT marketplaces.

How can trademark owners definitely remove NFTs infringing their brand?

Due to the principle of immutability of cryptoassets, in the current state of technology and legislation, only the owner of the blockchain domain or NFT concerned has the power to “burn” the latter in a definitive manner. Therefore, the IPR owner must obtain a court injunction against the holder of the infringing cryptoasset. For its part, IP Twins can detect infringing blockchain domains/NFTs and help IPR owners to remove offers to sell infringing cryptoassets on intermediation platforms such as OpenSea.

What is OpenSea?

OpenSea is the largest intermediation platform that connects buyers and sellers of NFTs and blockchain domains.

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