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published on 14 September 2023 | reading time approx. 4 minutes
CryptoKitties, CryptoPunks and Bored Monkeys, the first attempts in 2017 to implement the use of blockchain technology for leisure. This is how NFTs (Non Fungible Tokens) have become virtual collectibles, like phone cards or stickers once were. Even if the translation of the word "token" is not immediate, what NFTs are says it in the word itself: something in fungible, not replaceable by any other asset. It is an encrypted code (hash) that is imprinted on digital res by registration on the blockchain, which makes that code and the file on which it is imprinted traceable, unchangeable, and irreplaceable, in a word: exclusive. The blockchain is a network, a digital ledger spread among all those who hold a node on that network. Therefore, to change a transaction/record on the blockchain requires the permission of all diffuse nodes, which makes it effectively impossible.
However, authenticity of the digital file does not mean originality and/or legitimacy of the work it contains. The right to make copies of a trademark, including the right to reproduce it in a digital file uploaded to the blockchain rests exclusively with the right holders or the individuals who have acquired the right under a valid contract.
Margherita Cera
Avvocato
Associate Partner
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