4 Risks To Consider Before Selling An NFT

4 Risks To Consider Before Selling An NFT

March 14, 2022, Billboard

Adrian Perry was quoted by Billboard in an article published as part of a deep dive series titled, "A Musician's Guide to Web3,” highlighting NFT legal risks for musicians. “Musicians are obviously interested in generating new streams of income and NFTs are a great way to do that,” Adrian said. “But if you’re a musician, this is probably not something you’re used to dealing with, and you could be walking into some legal risk if you’re not careful.”

Similar to banks and other large financial institutions, certain NFT platforms have implemented measures to prevent money laundering and regulate criminal groups and international threats. “There need to be protocols in place so that you have assurances about who is purchasing NFTs and where the funds are flowing,” Adrian added. “If you’re a band out on the road selling shirts at your merch booth, you aren’t thinking about this stuff. But if you’re selling NFTs, you need to think about who is buying them and why.”

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