DIGITAL ART AND NFT: LEGAL UNCERTAINTY

Abstract

We live in the era of digital transformation. Many scientists believe that today we are experiencing the fourth industrial revolution. The first of these happened due to the discovery of steam energy, the second with the introduction of the conveyor, the third happened thanks to the creation of a computer. The foundation of the fourth was the emergence of digital technologies. Digital transformation has led to the emergence of qualitatively new public goods, interaction with which also leads to the emergence of new legal relations. New objects of these relations, in turn, also need a certain legal regulation. Thus, information transformation has influenced the rapid growth of the digital intellectual property market, significantly increasing the financial assets of the owners of these objects. However, such a rapid emergence of various objects created by intellectual work in the digital environment has also led to various abuses and offenses due to the lack of clear legal regulation. One such fast-growing entity today is non-fungible NFT tokens. The first to use NFTs were creative industry entrepreneurs who sought to increase their income and find new ways to interact with buyers. Despite the rapid rise in popularity, concerns have been raised about the legal ownership of NFT assets and the prevalence of speculation and fraud associated with NFT trading.