NON-FUNGIBLE TOKEN
(“NFT”)
It is a digital asset that provides a certificate of authenticity to the person who acquiresit, but instead of a physical certificate, it owns a token which implements Blockchain technology.
THE ABCS OF NFT
A. They are collectible digitalgoods.
B. Distributed through Blockchain, using digital contracts to certify and track works, which gives an advantage to NFTs to buy and sell properties, both digital and real, quickly, safely, and without the need for third parties to execute these processes.
C. To buy and sell, a Wallet is used.
USES
It doesn’t just work in art! Real estate, music, videos, insurance policies, events, virtual identity, videogames, metaverse,writings and more.
WHAT IS METAVERSE?
It is an environment created in cyberspace that is accessed with virtual reality and in which, human beings will be ableto interact both socially andeconomically through avatars which works asa reflection of the realworld, in which peoplecan buy and sell virtualthings, go to work, form communities, play, make war and more.
This digital universe is intended as an alternative to the real world, where cryptocurrencies and NFTs will play a very important role,since users can monetize and trade with different items (NFT).
WHY ARE NFTS IMPORTANT IN THE METAVERSE?
The ability of NFTs to represent ownership makes these digital assets acquire great value in the markets. Each NFT can verify authenticity and origin and provenance so each owner retains rights to objects created or purchased within the metaverse.
LEGAL IMPLICATIONS
- Privacy, transparency in your personal data with users.
- Intellectual property and copyright.
- Money laundering and terrorist financing
- Secure the rights of both the author and the buyer.
Diego A. Ramos Castillo
dramos@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Antonio Casas Vessi
acasas@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Paulina Martínez Chávez
pmartinez@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Frida Sofía Rojas Cuéllar
srojas@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Rodrigo Ramos Hopkins
ramosr@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Daniela Morales González
dmorales@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
