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To learn more: 18 April 2023 UK Parliament's Digital, Culture, Media and Sport Committee regarding NFTs and the blockchain, \\xa0Emily Gould's correspondence following the hearing on several issues touched on by the Committee; and NFT-related posts on the IAL Blog.

Show Notes:
1:15 Beeple sold \\u201dEverydays \\u2014 The First 5000 Days\\u201d for $69 million
2:45 The Art Basel and UBS Global Art Market Report
3:00 current global art market valued at 67.8 billion
3:15 current art-related NFTs valued at $1.5 billion
3:50 collectibles-related NFTs valued at 11.8 billion
5:00 Parliamentary\\xa0 committee
5:50 NFT life cycle
6:40 NFT defined
10:50 Distributed Ledger Technology
12:20 Ethereum
14:20 Web 1-3
15:50 Metaverse
16:50 holograms
17:35 stakeholders
22:50 resale royalty right
24:00 NFTs taken off chain will break royalty under smart contract
27:15 Flipkick - NFT authentication service
27:25 Artclear -\\xa0 NFT authentication service
28:00\\xa0 blockchain and provenance
30:40 fractional ownership
31:40 DAOs
32:40 fractional.art
32:55 Artsect Gallery
34:50 Copyright infringement
37:00 licensing\\xa0
37:40 Injective Protocol purchased/burnt Banksy's Morons (White)
38:50 Daystorm posted NFT of Basquiat for sale along with IP rights
39:30 TM infringement - MetaBirkin NFTs
40:30 commercial risks
41:00 NFT platform liability and disclaimers
42:00 EU copyright directive
42:25 Soleymani v. Nifty Gateway
44:10 UK consumer rights act protection for Soleymani
44:30 illicit activity - theft of NFTs or unauthorized minting of NFTs
44:45 ex-OpenSea employee convicted of fraud/money laundering
45:15 Osbourne v Opensea & Tulip Trading Limited v Bitcoin
45:30 property status of NFTs
46:00 money laundering
46:25 financial risks
48:00 tax & estate planning
48:15 environmental concerns
50:00 Whitworth Gallery\\u2019s Ancient of Days
51:10 Vacant-To-Visual Program\\xa0
52:40\\xa0 Hirst\\u2019s Currency project
54:05 Alan Robertshaw
54:30 Currency project results slightly favored physical works over NFT
55:45 Hirst\\u2019s The Beautiful Paintings\\xa0project
56:35 international body\\xa0
57:20 Robershaw\\xa0
58:40 conflict between smart contracts and natural term licensing
1:00:30 Robertshaw\\xa0
1:01:10 transaction time
1:02:20 "trustless" system actually requires trust

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Music by Toulme.

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Thanks so much for listening!

\\xa9 Stephanie Drawdy [2024]