Reuters This story is available exclusively to Insider subscribers. Become an Insider and start reading now. An NFT owner doesn't have any copyright or legal rights to the piece if there isn't a contract. The digital artwork lives on the internet where anyone can still "watch, listen to, or copy" without paying. When buying an NFT, the actual object isn't being purchased. Non-fungible tokens have taken the world by storm, becoming the hottest thing in the cryptocurrency market within only a few months. They are touted as a way to revolutionize the way digital art is bought and sold. But a closer look reveals NFTs are no more than a pump-and-dump scheme designed to make a few crypto insiders rich.