Austin crypto lawyer

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If there is something similar that already exists, you could get shut down, lose your domain name, and have to shut down your NFT store. Register your project name as a trademark as soon as you determine the name is available. Obtain a work for hire agreement with all artists involved in creating the digital image for your NFT project. Make sure your company actually owns the copyright to the images associated with your NFT. Draft a copyright licensing agreement for your NFT project as part of your roadmap.

You need to understand your licensing model before you launch, and typically as part of your initial business plan. Determine how you will permanently communicate copyright rights to your NFT buyers, through the platform, one your website, or on the interplanetary file system. Why is there so much confusion about NFT ownership? Much of the news media discussing ownership can be as confusing and misleading as the NFT offering.

Do you only NFT? Due to the digital asset linked to the NFT? That depends on the contract with the project owner that originally minted the NFT. Look to the terms of service, information on the platform, and other sources of information to see what your NFT purchase contract says. Think again Unfortunately, these early NFT drops were fatally flawed by poorly drafted, or non-existent, sale contract language. Yes, you own the NFToken smart-contract. It is less clear what your rights are in the copyrighted image that is the Bored Ape.

In this episode, we go through the Bored Ape sale contract aka Terms of Use line by line to see what was really sold, and what was not. If you are a Bored Ape owner, considering buying a Bored Ape or putting together your own NFT drop, you need to watch this video until the end.

We promise you will be surprised by what you learn. NFTs and the decentralized, immutable blockchain technology which makes intelligent contracts possible are all over the news. What does it all mean? You are wondering whether to buy the hype or ignore it. Yes, look to history to understand the future. The biggest companies in the world, Wallstreet, and the US government already understand what you had better understand.

NFTs are the future. The internet, smartphones, cloud services, social media. The press and the public widely panned all of these new technologies as fads and frauds. Yes, the pundits predicted the demise of the internet! When laughing about fart NTFs with business associates, remember there was a time when websites were considered unnecessary for businesses. And putting your credit card number into the internet was bat shit crazy. This question … THE question? Should you, your brand, and your company invest in NFT knowledge and technology?

The answer to anyone who has studied emerging tech for the last 30 years is…. Their guaranteed investment promises are nothing more than a well thought out plan to steal your money, digital coins, or wallet. Phishing Cryptocurrency Scams- In this type of scam, hackers try to steal your personal information, with the goal of stealing your cryptocurrency.

These crypto criminals usually try to use a fake Airdrop to deceive you. Cryptocurrency Ponzi Schemes- Ponzi schemes have been successful in deceiving investors for hundreds for years. This type of crime is still played out in the same way — cryptocurrency investors are deluded into investing more and more money into a fake digital coin because of their glowing return reports.

Early investors are so thrilled by their large and fast returns that they invest more money and bring in their family members and friends to also invest but ultimately lose it all. Crypto Impersonation- One of the most successful tactics to defraud crypto investors occurs when the scam artist uses fake social media accounts that impersonate real crypto executives. They may also pose as fake exchange support staff to secure your personal information and wallet passcode. To conclude, while cryptocurrency is digital money, cryptocurrency fraud will lead to the loss of your personal wealth.

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