Understanding The Intellectual Property Value Of NFTs - Intellectual Property

The Hot NFT Market
Non-Fungible Tokens, known as NFTs, recently made headlines with
sales of individual tokens valued at millions of dollars,
comparable to sales of fine art. Christie's– a
"conventional" auction house – sold its first NFT,
the piece "Everydays: The First 5,000 Days" by the artist
Beeple – for a staggering $69 million.
1 Most NFTs sell from
merchants without such established reputations. Traders should
understand the value of intellectual property, or lack thereof,
tied to NFTs.
How NFTs Work – a Brief Overview
NFTs are digital certificates, or "tokens" stored on
decentralized ledgers popularly referred to as the blockchain. NFTs
use software code, referred to as "smart contracts," to

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