PDF Publication Title:
Text from PDF Page: 004
NBA Top Shot sold $230 million in NFTs linked to basketball highlights over a four-month period.[ix] Taco Bell recently debuted several taco-inspired NFT gifs, resale prices for which have risen as high as $3,600.[x] Others are not far behind. Importantly for brand managers, NFTs have potential usefulness not only in association with digital images but also for physical products. According to a Gucci executive, NFTs for physical luxury goods are inevitable, which would open up a new field of NFT uses for brand owners.[xi] LVMH is reportedly already using the AURA blockchain to allow customers to trace the authenticity of luxury goods using NFT-related technology.[xii] Brand managers should be prepared to address this significant market change and its potential impacts on physical product marketing, advertising, development, and general sales practices. While NFTs present opportunities for brand owners in both digital and physical markets, they are not without risks—including, specifically, counterfeiting. If NFTs are minted that contain phony information, or if the link between the NFT and the digital image doesn’t work, consumers could be misled as to the nature or value of their NFT purchases. If NFTs for physical luxury goods are popularized, as Gucci suggests, they could also contribute substantially to the trade in knockoffs, as where an unauthorized NFT is used to in an effort to demonstrate the authenticity of a fake product. Brand and business owners should take care when operating in this new space and should consider the possibility of future consumer safety regulation if NFTs are found to create genuine counterfeiting risks. Conclusion NFTs are novel digital assets with a wide array of uses for businesses, brand owners, and individuals in the art, entertainment, fashion, and marketing/advertising realms. However, they are not without risks. Entities and individuals seeking to enter the NFT market should (1) carefully consider the risk of copyright infringement or false advertising liability; (2) anticipate possible changes to relevant legal doctrines that may create litigation uncertainty or affect NFT ownership obligations; and (3) be aware of the possibility of NFTs for physical products, as well as the brand loyalty monetization opportunities and counterfeiting risks this poses. Crowell & Moring will continue to monitor these issues as they develop. [i] Capitol Records, LLC v. ReDigi Inc., 934 F. Supp. 2d 640 (S.D.N.Y 2013), aff’d, 910 F.3d 649 (2d Cir. 2018). [ii] Marion Maneker, NFTs are Creating the Opposite of Everything They’re Meant to Fix, Artnews (Mar. 15, 2021), https://www.artnews.com/art-news/market/nfts-create-opposite-of-everything-they-are-meant-to-fix-1234586769/. [iii] Terms of Service, OpenSea (Mar. 25, 2021), https://opensea.io/tos. [iv] Terms of Service, MakersPlace (Apr. 13, 2021), https://makersplace.com/terms/. 4PDF Image | nft risks and opportunities
PDF Search Title:
nft risks and opportunitiesOriginal File Name Searched:
NFT-Risks-and-Opportunities-in-the-IP-Advertising-and-Brand-Management-Spaces.pdfDIY PDF Search: Google It | Yahoo | Bing
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
Infinity Turbine ROT Radial Outflow Turbine 24 Design and Worldwide Rights: NFT for sale... NFT for the ROT 24 energy turbine. Be part of the future with this NFT. This design can be bought and sold but only one design NFT exists. You may manufacture the unit, or get the revenues from its sale from Infinity Turbine. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Supercritical CO2 10 Liter Extractor Design and Worldwide Rights: The Infinity Supercritical 10L CO2 extractor is for botanical oil extraction, which is rich in terpenes and can produce shelf ready full spectrum oil. With over 5 years of development, this industry leader mature extractor machine has been sold since 2015 and is part of many profitable businesses. The process can also be used for electrowinning, e-waste recycling, and lithium battery recycling, gold mining electronic wastes, precious metals. CO2 can also be used in a reverse fuel cell with nafion to make a gas-to-liquids fuel, such as methanol, ethanol and butanol or ethylene. Supercritical CO2 has also been used for treating nafion to make it more effective catalyst. This NFT is for the purchase of worldwide rights which includes the design. More Info
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
| CONTACT TEL: 608-238-6001 Email: greg@infinityturbine.com | RSS | AMP |