Vanshika Mittal, Jindal Global Law School
ABSTRACT
This paper will talk about the NFT. NFT or Non-Fungible Token was introduced under the concept of cryptocurrency. It helps artists to sell their art digitally. Then this paper will discuss the question about ownership. The discussion is about who has the right to create NFTs in various situations. Under what laws can artists publish their art and get the ownership. What all are the requirements for uploading/minting art. As AI-generated art is not made entirely by artists or humans so do artists deserve to get the rights of that art and can they mint that artwork as NFT under their name? Then this paper will discuss about the rights of the art or NFT after it is sold. Are the rights gets transferred to the buyer of the art as it generally gets transferred in traditional art? Do the buyers have to pay royalties and what are the laws or rules/procedure regarding about it? Along with the rules or procedures about uploading the artwork as NFT, the artists face many issues such as infringement and the exploitation by the big companies having monopoly in this business. Then the paper provides with the remedy about the problems.
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