NFT Due Diligence Lessons From Recent Cases

Nonfungible tokens, or NFTs, have been a booming business since the launch in 2017 of digital collectibles like CryptoKitties and CryptoPunks. Beyond the current fascination with Bored Ape Yacht Club NFTs and modern manifestations of tulip mania, NFTs are a new and valuable technology, with increasingly innovative and sustainable commercial implementations.

This article explores four pending cases involving disputes over NFTs. While none have reached a merits decision, both sides have now set forth their positions and there are clear themes and implications. We provide an actionable NFT primer, key takeaways, and questions to help evaluate future NFT offerings.

This was one of the most widely read IP Law360 guest articles of 2022.