Non-Fungible Tokens (NFTs) at the Center of Legal Attention: Examining Regulatory Aspects and Legal Developments
DOI:
https://doi.org/10.30545/juridica.2023.jul-dic.2Keywords:
blockchain, derecho digital, NFT, propiedad intelectualAbstract
The article examines non-fungible tokens (NFTs) and their common description as immutable digital representations of ownership or rights over tangible and intangible assets. From a formal legal perspective, these claims are not accurate. While there are NFTs that can be considered securities and grant ownership or control rights, such situations are exceptional, and the majority of NFTs do not establish a legal link to the objects they represent. The creation, issuance, and transactions of NFTs can have significant legal implications in civil, administrative, and criminal terms. It is important to note that the widespread interpretation of NFTs as digital representations of property is more a vision of their future potential than an accurate determination of their current nature. However, NFTs have great potential to become technical tools regulated by laws. The article explores how NFTs can influence legal development in various fields, including property law and copyright law. Given the lack of specific regulation on NFTs in Paraguay and more widely in MERCOSUR, studying the legal experience and theory worldwide is particularly relevant. Understanding the existing regulatory frameworks in other jurisdictions can provide a solid foundation for addressing the legal challenges and opportunities related to NFTs in a regional context.
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