Tokenized Art Legal Issues

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Sheppard Mullin Richter & Hampton

Contributor

Sheppard Mullin is a full service Global 100 firm with over 1,000 attorneys in 16 offices located in the United States, Europe and Asia. Since 1927, companies have turned to Sheppard Mullin to handle corporate and technology matters, high stakes litigation and complex financial transactions. In the US, the firm’s clients include more than half of the Fortune 100.
The tokenization of physical and digital art has many advantages. Some of the advantages create potential complexities under US law.
United States Media, Telecoms, IT, Entertainment

The tokenization of physical and digital art has many advantages. Some of the advantages create potential complexities under US law. Each situation is fact specific, but the following is a summary of some of the areas for which careful consideration is needed with tokenized art. This is not a complete list, but provides some of the most common issues that we typically see. These issues can impact the owners/creators of tokenized art as well as the exchanges and platforms that sell them.

The range of issues include anti-money laundering, OFAC, securities laws, copyright, patents, terms of service and much more. See here for a summary of these issues. For more information, please consider registering to attend our complimentary webinar on this topic on March 10, 2021 featuring Serena Tabacchi, CEO and Co-founder of the Museum of Contemporary Digital Art, and John Crain, Founder of SuperRare.

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.

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