Continuing Copyright Disputes: US Patent and Trademark Office Begins Research on the Impact of NFTs on Copyright

In February this year, Nike accused the online sports goods distributor StockX of infringing on NFTs, causing a stir. Although the craze for NFTs has cooled down, the interest in extending copyright-related creations through them continues. Senators Patrick Leahy and Thom Tillis requested in June for the government to conduct an in-depth study on the potential impact of NFTs on intellectual property rights. As a result, the United States Patent and Trademark Office and the United States Copyright Office have recently begun research on this matter.

In February this year, Nike accused the online sports goods distributor StockX of launching NFTs that caused a stir. Despite the cooling of the NFT craze, the creation of copyright-related works seeking to extend through this medium continues. Senators Patrick Leahy and Thom Tillis requested in June for the government to conduct an in-depth study on the potential impact of NFTs on intellectual property rights. Consequently, the United States Patent and Trademark Office and the United States Copyright Office have recently embarked on this research.

According to a report by Cointelegraph here, the research by the United States Patent and Trademark Office includes challenges that NFTs may pose to copyright, rights related to the transfer of NFT ownership, licensing, infringement, and the copyright of NFT creators themselves.

One of the most controversial aspects of NFTs is how copyright is determined. Currently, anyone can easily create an NFT as long as they have a creative work, cryptocurrency, and a cryptocurrency wallet. This process is called "minting," and the transaction fee is called "gas," which must be paid in cryptocurrency. In other words, everyone can issue an NFT, but there are still many abuses and uncertainties regarding copyright.

Therefore, in addition to the dispute between Nike and StockX, rapper Lil Yachty also sued the NFT company Opulous, claiming that Opulous made a profit of $6.5 million by using his name and image to issue NFTs without his consent.

Hollywood director Quentin Tarantino expressed his desire to release an NFT of his 1994 hit movie "Pulp Fiction." Film production company Miramax filed a lawsuit in November 2021, alleging that Quentin Tarantino infringed copyright because the NFT content he intended to release included seven uncut scenes, exclusive commentary, and script drafts, all of which were deemed to infringe on their rights.

This article is authorized reprint from Vision News Network