UK Court recognizes NFTs as ‘private property’ — What now? By Cointelegraph


UK Court recognizes NFTs as ‘private property’ — What now?

At the beginning of May, the British Web3 community celebrated an important legal precedent — the High Court of Justice in London, the closest analog to the United States Supreme Court, has ruled that nonfungible tokens (NFT) represent “private property.” There is a caveat, though: In the court’s ruling, this private property status does not extend to the actual underlying content that NFT represents. Cointelegraph reached out to legal experts to understand what this decision could possibly change in the British legal landscape.

In February 2022, Lavinia D. Osbourne, founder of Women in Blockchain Talks, wrote on Twitter (NYSE:) that two digital works had been stolen from the Boss Beauties — a 10,000-NFT collection of empowered women that was created by “Gen Z change-makers” and featured at the New York Stock Exchange.