NFTs: Government Agencies Seek Comments On NFT IP; New Marketplaces Open – Fin Tech – United States – Mondaq


06 December 2022


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In connection with a joint study on intellectual property (IP) issues and non-fungible tokens (NFTs), the United States Patent and Trademark Office (USPTO) and the United States Copyright Office (USCO) published a notice in the Federal Register last week seeking public comments on 13 separate questions – each related to a different aspect of IP use in NFTs. The comment period closes on Jan. 9, 2023. Additionally, in mid-January 2023, the USPTO and USCO will hold three public roundtables focused on IP issues in the NFT space. Registration for these events closes on Dec. 21, 2022.

In related news, an American toy manufacturing and entertainment company reportedly launched its own NFT marketplace. According to reports, the marketplace, built on the Flow blockchain, will allow users to purchase NFTs without the use of cryptocurrency and will support peer-to-peer trading. The first series of digital collectibles – based on one of the company’s most recognizable properties – is reportedly set to drop in mid-December.

In other marketplace news, OpenSea reportedly released an “on-chain enforcement tool” to help NFT creators enforce royalty payments on the secondary sales of their work. According to reports, the tool would allow NFT artists to “specify which addresses can make token transfers on their behalf.” This would effectively allow artists to halt resale of their work on sites that refused to honor royalty fees.

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