While the art sector did not intuitively seem like a good match for blockchain, overnight, at some point in 2021, everyone started talking about record-setting sales of non-fungible tokens (NFTs) like they had always existed. Just like that, this new application of blockchain made all lawyers’ heads spin fast again. Despite the recent frenzy around them, NFTs actually gained popularity in the niche crypto community back in 2017 when a company, Dapper Labs, started selling NFTs linked to unique digital cat cartoons known as CryptoKitties—and people went crazy for them.

What are NFTs, and how are they challenging IP law? What does it even mean to own and NFTs, and what type of rights do they convey to their owner? What do they mean from an IP perspective?

Our first guest today is Professor Philippa Loengard, an attorney who serves as Director and Lecturer in Law at the Kernochan Center for Law, Media, and the Arts at Columbia Law School in New York City. At the institution since 2006, she focuses her research on issues surrounding the visual arts and entertainment industries. Prof. Loengard is also particularly interested in issues of taxation as they pertain to the arts and the rights of authors and creators.

Our second guest is Megan Noh, a partner with Pryor Cashman LLP, in New York City and co-chair of the firm’s Art Law Group. She has over 15 years of combined experience in private practice and both in-house legal and business positions in the auction world. She is sought after for her extensive knowledge of the complex issues impacting today’s art market, including transactional matters and artists’ rights.

Related Resources

About Megan Noh

About Prof. Pippa Loengard

Also of interest:

JD Supra-NFTs : Legal Risks from ‘Minting » Art and Collectibles on Block Chain

INTA Daily News: A Leap of Faith

INTA Bulletin: NFTs, Brands, and the Metaverse 

INTA Bulletin:  Webcast Explores Non-Fungible Tokens and their IP Issues

INTA Bulletin: The Many Implications of Innovation

Artnet: Hermes Is Suing a Digital Artist for Selling Unauthorized Birkin Bag NFTs in the Metaverse for as much as Six Figures

Pymts.com: Hermes Trademark Lawsuit Against Metabirkins NFT Artist Moves Forward