Coinbase, a licensed cryptocurrency exchange platform, recently announced plans to launch a peer-to-peer marketplace with artists who create NFTs in mind. Art Law Group Co-Chair Megan Noh discussed the announcement with the San Francisco Business Times:
From a legal perspective, Megan Noh co-chair of the art law practice at Pryor Cashman LLP remains cautious. "We've seen an explosion of competing marketplaces in recent months. Coinbase joining the fray may not fundamentally change the landscape unless they are offering creators enhanced features such as greater optionality with minting in multiple revenue recipients or a more universal (i.e. interoperable) resale royalty right. It will also be interesting to see how Coinbase NFT approaches copyright infringement issues, particularly given the promise of "social" features by which content is more easily reproduced and shared."
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