U.S. trademark and copyright offices to study IP impact of NFTs
The U.S. Patent and Trademark, and Copyright offices will explore the impact of NFTs on intellectual property rights as lawsuits begin to stack up. As nonfungible tokens (NFTs) continue to garner interest, the United States Patent and Trademark Office and U.S. Copyright Office are set to launch a study into their impact on intellectual property rights.The examination of NFTs comes after a request from senators Patrick Leahy and Thom Tillis in June for a deep dive into the potential ramifications the burgeoning asset class could have in regard to intellectual property rights.The two....
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Ripple Labs Inc., issuers of the XRP cryptocurrency, has filed for a new trademark called “Paystring” with the US Patent and Trademark Office (USPTO). The trademark was filed on Nov. 6 and accepted on Friday, according to the USPTO website. Although Ripple did not specify which sort of business will fall under the new product, it is notable that the trademark’s registration description matches that of PayID, a trademark it registered on June 17, word for word. Both the official description for Paystring and PayID read: “[The]…trademark registration is....
As the interest in the NFT sector increases, many top shots seem to explore the opportunities it provides. For example, the latest news reveals a new marketplace by Alibaba where trademark holders can sell the NFTs that represent their copyright licenses. Alibaba Group, the famous multinational eCommerce firm, launched a new NFT (non-fungible token) marketplace. […]
The non-fungible token fever witnessed over the last few months is catching the copyright management agencies’ attention. One of them, located in Italy, has chosen a blockchain company to create its own NFTs. SIAE Expects to Guarantee Copyright Protection With NFTs for the Next 139 Years According to the announcement, Società Italiana degli Autori ed Editori (SIAE), founded in 1883, picked Algorand to manage the rights of over 95,000 authors in the form of non-fungible tokens. Both parties had been working on the project since 2019, said Algorand. In a first instance, 4....
Alibaba has launched a new marketplace allowing trademark holders to sell NFT representing licenses to their copyright. Chinese multinational e-commerce firm, Alibaba Group Holding, has launched a new nonfungible tokens (NFTs) marketplace allowing trademark holders to sell tokenized licenses to their intellectual property.The new NFT marketplace, dubbed “Blockchain Digital Copyright and Asset-Trade,” can be accessed via Alibaba's Auction platform. NFTs launched via the platform will be issued on the “New Copyright Blockchain” — a distributed ledger technology platform centrally operated by....
Blockchain technology has a wide variety of use cases, most of which are waiting to be discovered by aspiring developers and entrepreneurs. Distributed ledgers can play a significant role when it comes to issuing copyright claims, as tamper-proof timestamped logs can be created and made publicly available at the same time. But that doesn’t mean such....