In this article, we explain what NFTs are conceptually, their legal impact from an Intellectual Property perspective and the competing interests within the football industry to monetise these new opportunities.
Introduction
Technology is constantly and rapidly evolving, always looking to disrupt the status quo. Unsurprisingly, the world of football is never far behind in utilising any new developments for commercial gain. Enter Non-Fungible Tokens (NFTs), which provide a way to own, trade and earn royalties in relation to digital assets. Football clubs, leagues and players are well-positioned to take advantage, given the desirable and collectible content produced by sport; in fact, many are already doing so. This article will explore what exactly an NFT is, how they operate, and how the football industry is looking to exploit this technology. Significantly, this article will consider the potential issues under English Law, such as ownership and control of rights in content used in the NFTs, the tension this may create between the interests of players and those commissioning the...
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