Question
You work for a technology company that has decided now is the time to get into NFTs. NFTs, or non-fungible tokens, are tokens connected with
You work for a technology company that has decided now is the time to get into NFTs. NFTs, or non-fungible tokens, are tokens connected with blockchain technology. Blockchain is the technology that makes cryptocurrency like Bitcoin possible. The idea behind cryptocurrency is that many computers will have copies of the same code, providing for a secure monetary system without the need for banks. One recent innovation in the crypto space is the sale of collectible tokens - these NFTs - verified using blockchain technology. Each NFT is a unique piece of code, and thus can be collectible in a manner similar to unique artworks. In many cases, ownership of NFTs is registered and verified using a blockchain called Ethereum. NFTs are a recent innovation in the crypto space, and so navigating how they interact with intellectual property laws has been a source of much debate. Your company is considering the following business model: The company will sell NFTs of links to twitter messages, or tweets, made by celebrities on the Twitter platform. The firm will select one tweet from each of 1,000 celebrities and influencers in a variety of areas, including politics, acting, music, and business. Each NFT is a piece of code, or computer language, that will be verified on the Ethereum blockchain. The code will point to the location of a tweet on the internet. The purchaser will be the only one with the unique piece of code that points to the location. But other means could be used to point to that location. If the tweet were to be taken down, deleted, or removed, the NFT would then point to an inactive link. To inform potential purchasers about what they can purchase, a copy of the full text of each tweet selected will be posted to a website hosted by the company. For example, if Professor Jake Linford were one of the celebrities selected, an NFT would be offered for sale that points to https://twitter.com/LinfordInfo/status/1490087301157986309, the location of the following tweet. A copy of that tweet would also be posted to the company's website, as it appears below.
You have been consulted as the firm's resident copyright expert to advise whether this project will create any copyright-related legal problems.
Please explain 1) the potential copyright-related risks, and 2) how best to mitigate those risks.
Drive L'In Saturday @Linfordinfo Replying to @CosmonautAdrift Sitting by the sewing machine, I think 5:17 PM . Feb 5, 2022 . Twitter for iPhoneStep by Step Solution
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