This webinar will focus on the aspect of concept of Non-Fungible Tokens ("NFTs") under the Indian legal system, with specific focus on the issues of money laundering and Intellectual property rights.
The Webinar will be divided into four parts as follows:
1. Introduction – This will include
introduction to NFTs, its genesis and characteristics and the
types of works traded as NFTs. A brief overview of the
laws/regulations that govern NFTs will be provided.
2. Procedure – This part is sub-divided into
3 sections for ease of understanding:
a. Creation – This section will cover the process of
creation of NFTs, the various process/steps involved in the
creation of NFTs along with the laws/regulations applicable to each
of such steps.
b. Listing of NFTs – This section will cover the process of
listing/minting of NFTs, the role of blockchain and the various
platforms/marketplaces where NFTs are listed and along with the
laws/ regulations applicable to every step in the process
involved.
c. Trading – This section will cover the procedure for
trading NFTs, the nature of transactions in such trade, the concept
and structure of smart contracts and the means of trading, for eg.
Cryptocurrencies along with the laws/regulations applicable to the
procedure.
3. Legal Lacunae – This part will cover
loopholes/drawbacks attached to NFTs and the entire process from
creation to trading of NFTs including the scope for abuse of
NFTs.
4. Penal Laws – This part will cover the
remedies/measures available to every entity involved
in the creation and trading of NFTs.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
