Seek legal advice from Crypto and NFT lawyer at Krida Legal
NFT stands for non-fungible token. It is basically a token (a digital asset existing on the blockchain) and represents a ubiquitous digital item. The ownership of an NFT is proven by a private key to the wallet containing the token. Blockchain and NFT expertise is catching up for arts, visual artists who are creating tokens to safeguard their rights. This is crucial as online marketplaces are becoming popular for selling goods but assuring that no infringement happens issues. Krida Legal with an array of legal experts that while blockchains have been in vogue for long but NFT expertise is scaling popularity as clients feel it is pertinent to address intellectual property rights as well as address security concerns. While different countries such as Canada, Switzerland have created frameworks to regulate cryptocurrencies under anti-money laundering legislation. Japan has even legalized certain cryptos as payment. But countries like China and Saudi Arabia have prohibited the usage of