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12 - Unauthorized Minting and NFTs

from Part IV - Intellectual Property and Ownership Rights

Published online by Cambridge University Press:  02 November 2024

Nizan Geslevich Packin
Affiliation:
Baruch College (City University of New York)
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Summary

This chapter addresses the phenomenon of unauthorized minting of NFTs. Specifically, the chapter examines whether copyright law should allow minting of NFTs that is not authorized by the author of the underlying work. Despite the immense growth of the NFT market, the answer to this question has remained unclear under extant copyright laws around the world. To provide foundations for policy-making in this arena, the chapter seeks to form a normative stance towards the question of unauthorized minting. It does so by analyzing this question from the perspective of the key theories that underly copyright law, including the utilitarian theory, the labor theory, and the personality theory. The matter is also examined from the viewpoint of cultural diversity and distributive justice considerations, which provide important underpinning for copyright policy. All in all, the analysis offers a normative basis for the conclusion that the right to mint an NFT should be awarded to the author of the work that underlies the NFT.

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Publisher: Cambridge University Press
Print publication year: 2024

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