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Non-Fungible Tokens (NFTs)

Contacts

Riaz A. Karamali
Partner, Silicon Valley
T: +1.650.233.4052
Carolyn S. Toto
Partner, Los Angeles
T: +1.213.488.7238
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Areas of Focus

Non-fungible tokens (NFTs) are unique blockchain-based tokens that can represent almost anything in digital form, including physical assets. This potential to “tokenize” anything and provide a way to transfer ownership of digital assets to holders has led to a surge in interest regarding NFTs.

But behind the hype, news stories and media attention, NFTs are also just another application of the same distributed ledger technology (DLT) that forms the foundation of the blockchain. As with any developing technology, NFTs present distinct opportunities and pitfalls for individuals or companies seeking to extend their brand into new arenas. NFTs also present alternative paths for companies across a wide range of industries to monetize a more traditional portfolio of assets.

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Pillsbury’s NFT lawyers include members of our Intellectual Property, Tax, Fintech, Blockchain, Litigation and Payments teams, and have a long history of working with innovative companies who are leading in this space. Our team helps clients with numerous legal issues that may arise in connection with NFTs, including:

  • advising Joint Ventures
  • forming strategic alliances
  • conducting content clearances for non-patent IP, right of publicity and other issues
  • handling copyright matters
  • counseling on corporate formation structure
  • drafting and negotiating contracts
  • providing advice on money transmitter regulations
  • handling patent prosecution
  • advising on securities and tax law matters
  • assisting with trademark prosecution and enforcement
  • guidance on payments and virtual currencies
  • data protection and cybersecurity

Our team also stays abreast of evolving issues such as regulatory issues, tax implications, investment strategies and the potential for costly litigation.

Representative Experience

  • Representing Dapper Labs in connection with worldwide trademark portfolio prosecution and enforcement, including for the DAPPER, CRYPTOKITTIES, FLOW and CHEEZE WIZARDS marks.
  • Advising clients in connection with NFT-related matters involving mineral rights and surface rights in real estate and payment intangibles.
  • Advising video game art studio Concept Art House in implementing its Crypto Art House initiative in connection with numerous opportunities around NFTs.

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  • Drafted and prosecuted patent portfolio on technology that represents trees with NFTs and tracks carbon credits attributable to those trees with fungible tokens.
  • Assisting client with corporate and intellectual property advise relating to acquiring artwork to mint and sell NFTs, including draft vendor agreements regarding the same.
  • Assisting client with a proprietary platform that allows music artists to promote and distribute their work.
  • Advising digital content production and advertising agency on NFT collaborations.
  • Represent investors in NFT companies.

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