By now, we’ve all heard of non-fungible tokens (NFTs), and some of us may even have personal experiences owning them or advising our clients regarding them. However, to many of us, including me, they remain mysterious, amorphous and almost make believe, and the laws, rules and regulations surrounding them are confusing at best. The author explains the current intellectual property laws that govern NFTs and argues that NFTs are really personal property in nature due to how they’re transacted. Therefore, the laws governing the sales of personal property, and not the laws that apply to intellectual property, should apply when NFTs are bought, sold or otherwise transacted. Furthermore, the author advocates that digital property in general should be governed by personal property laws and not by intellectual property laws, and this would benefit consumers and the overall marketplace for these items.
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