Things to consider when selling or buying an NFT Non- Fungible Token(“NFT”)

Ramos, Ripoll & Schuster
2 min readDec 21, 2021

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ELaNFT’s can be created through a Smart Contract by implementing anERC-21 standard, which are usually the most commonly used. These tokens are stored in wallets.

Thes NFTs within the legal scope is Intellectual Property and Image Rights, since when you are coining an NFT you are uploading a work legally protected by Copyright in the Blockchain.

It is important to mention that the assignment is totally independent of the owner of the original work, since the regulations depend on the specific case.

THE NFT’S SALE OPTIONS:

1.Direct selling: the seller sets a final price.

2.Auction: The seller sets a minimum selling price.

3.Bundle: grouped sale where two or more NFT can be sold.

WHERE CAN AN NFT BE SOLD OR LISTED?

The most common platforms to sell and buy NTF are through Exchange such as OpenSea, MoonPay, Binance or Rarible. It is important to mention that the buyer does not obtain the good itself, but the digital asset through which he legally obtains his rights and subsequently, can market them.

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

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Ramos, Ripoll & Schuster
Ramos, Ripoll & Schuster

Written by Ramos, Ripoll & Schuster

RRS is a full-service law firm that preserves the adaptability, personal involvement and high specialization of a boutique.

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