Non-fungible tokens from a legal point of view
ON non-fungible token (NFT) can be either a representation of a physical or a digital asset that only exists on the Internet – a programmable work of art. It provides ownership of an underlying asset, such as a painting, and can also represent a digital asset in the form of software code. So i like it conceptualize NFTs from a technical point of view:
Before discussing the legality of an NFT, it must be checked what non-fungible tokens mean digitally. In its most general sense, an NFT is the digital representation of a non-fungible asset in the form of a serial number. Take a look at the picture below.
Tatiana Revoredo placeholder image is a founding member of the Oxford Blockchain Foundation and a blockchain strategist at the Saïd Business School at Oxford University. She is also an expert in blockchain business applications at the Massachusetts Institute of Technology and Chief Strategy Officer of The Global Strategy. Tatiana was invited by the European Parliament to the Intercontinental Blockchain Conference and by the Brazilian Parliament to the public hearing on the draft law 2303/2015. She is the author of two books: Blockchain: Tudo O Que Você Precisa Saber and Cryptocurrencies in the International Scenario: What Is the Position of Central Banks, Governments and Authorities About Cryptocurrencies?
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