In general, any original work of authorship, whether music, paintings, books, or any other minimally creative tangible work, is protected by federal law. Companies must take advantage of this market, but they must continue to consider intellectual property laws as they always have. Because NFTs are such a new phenomenon, the laws that surround them in every country in the world continue to evolve. So, now that we are aware of the factors that influence NFT law, let's see what laws apply specifically to the NFT market.
This is an ongoing problem within the NFT industry and is giving way to many legal disputes and lawsuits targeting creators, sellers, and buyers alike. For anyone interested in becoming a buyer or seller within the NFT marketplace, it's incredibly important to first understand how the laws surrounding NFTs affect their rights. Because this concept varies from country to country, you should always consult an attorney if you are trying to benefit from this exception to ensure that it can be applied in your situation and you are not infringing on someone else's work. With regard to intellectual property, there seems to be a certain mindset that traditional law doesn't apply to blockchain, but that's definitely not the case.
U.S. officials currently view NFTs as a work of authorship and, therefore, are treated as such in the eyes of the law. They basically represent data on a blockchain, which would not constitute an original work of authorship under intellectual property law.
