The concept of NFTs is tightly associated with the arrival of Web 3.0 in the digital world. Despite the increased aspirations for this new technological phenomenon with promises of protection, new paths of economic exploitation, and innovation, the reality seems more complex. Under the blockchain ecosystem, it is evident that NFTs present a unique structure that is far from what the EU legislator could imagine during the drafting of the EU copyright law regime. This raises the central issue of how NFTs should be legally treated under EU copyright law. Specifically, which actions related to NFTs fall within the scope of the economic rights granted to authors? What distinguishes a lawful minting process from an act of copyright infringement? These questions are tightly associated with the context of digital artworks. However, the main obstacle remains the absence of a clear law regime and case-law regarding Art NFTs. Consequently, this fluidity creates ambiguities between the owners and the buyers for the ownership regime. The purpose of this article is to clear the blurry legal atmosphere related to the application of the EU copyright law to Art NFTs. More specifically, “How Art NFTs interact with copyright? Is there a level of protection that is ensured? In the event of a copyright infringement, who should be held liable? To answer these questions, the research will begin by examining the technological “personality” of NFTs, focusing on the key elements that ensure their functionality as unique tokens. After that, a legal analysis will follow concerning the interaction with the EU copyright regime whether they are eligible for copyright protection, and what economic rights are entailed during the creation of an NFT. Finally, the possible ownership scenarios will be presented and the cases of infringement in the governance of these digital assets.
Parthena Amanatiadou (Thu,) studied this question.