NFTs! Enter the Metaverse with Practical Guidance

Learn about the various ways that intellectual property owners can exploit the burgeoning non-fungible token (NFT) market, estimated to have exceeded sales of $17.7 billion by the end of 2021, and enter the metaverse while avoiding common pitfalls. This practice note explains NFTs and the blockchain, and distributed ledger technology underlying NFTs. It covers the difference among types of tokens, how NFTs are minted and sold, and strategic considerations for use of NFTs. Common uses of NFTs are explored from sales of collectibles or artwork, to access to special events, to entering a completely virtual world to utilizing NFTS to track real world goods.

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