USPTO and U.S. Copyright Office jointly complete NFT research

The USPTO and the US Copyright Office released a joint research report on the legal and policy impact of non-fungible tokens (NFTs). The report shows that the US Copyright Office recognizes the current role of NFTs in promoting copyright or trademark rights, and believes that NFTs can enable artists to obtain compensation for downstream resales of their works, help trademark rights expand their brand appeal, and play a supporting role in the management, transfer and authorization of intellectual property rights. At the same time, the USPTO and the US Copyright Office also realized that buyers and sellers of NFTs do not know what intellectual property rights will be involved in the creation, marketing and transfer of NFTs.

Both the USPTO and the U.S. Copyright Office believe that current laws are sufficient to address infringement issues related to NFTs, and that there is no need to amend current intellectual property laws at this time, but they also recognize that public education and product transparency can play an important role in ensuring greater public awareness and understanding of NFTs.