Frederic Remington became famous as an artist due to his ability to portray the essence of the American West in his sculptures and paintings. If you’re from South Florida and have ever eaten at a steakhouse, chances are you’ve seen a reproduction of one of his pieces hanging on the wall.
A reproduction of one of Remington’s works is enjoyable to view, and it can even be purchased for personal use, but it cannot compare to the experience of viewing or owning a genuine article. Because of the high value of the originals, there are professionals whose whole job is to examine them and verify their legitimacy before selling them. Making illegal copies or attempting to pass them off as the original is a serious crime.
No counterpart of this respect for and safeguarding of originals existed in the digital sphere until quite recently. These NFTs are now available. Discuss your legal moves with a certified lawyer, click here to know more!
For Better or Worse, NFTs Are the Wild West
NFTs, which stands for “non-fungible tokens,” are digital assets that one person can only ever own. They are traded for one another on the blockchain and have the potential to revolutionise the way we verify and amass digital property. However, they could just be a trend that won’t last. It’s really too early to tell at this point.
As it is, NFTs are at the cutting edge of innovation where science, art, and commerce meet. However, as larger companies continue to enter the market, NFTs may replace other methods of proving ownership of digital assets. They may be a means to bring order to the digital frontier rather than the wild west of technology, the arts, and business.
NFTs will either be obsolete or too huge to control without significant legislation by the time legislators understand what they are and how they can complement our current intellectual property capabilities. This puts the designers and early adopters of the technology in a precarious legal situation. That’s where the lawyers at Lomnitzer Law step in.
Change of Guard
The Lomnitzer Law is a natural consequence of the exponential growth of technology. Our clients are constantly innovating in the fields of technology, art, and business, and we are proud to assist them every day. It’s our mission to restore order to the lawless by assisting them in protecting their creations and avoiding legal trouble as much as possible.
Before beginning work with a new customer, we always discuss the possibility of registering their intellectual property and drafting contracts to protect them against legal repercussions.