Dwayne O. Andreas School of Law, Barry University, Orlando, United States.
* Corresponding author. Email: brianbrandwein@gmail.com (B.L.B.)
Manuscript received April 12, 2023; accepted July 6, 2023; published November 9, 2023.
Abstract—Non-Fungible Tokens (NFTs) have become a hot topic, especially during the COVID-19 pandemic. With this new wave of digital assets, comes decisions about how to govern their transfer from user to user. Between common law and the Uniform Commercial Code, depending on the type of NFT that is transferred, there is a sliding scale of when common law would govern and when UCC would govern each respective transaction. In this paper, NFTs are classified into seven distinct categories and the laws that govern their transactions are discussed with examples.
Index Terms—Non-Fungible Token (NFT), contract law, common law, Uniform Commercial Code, blockchain, web3, digital asset, transactions
Cite: Brian L. Brandwein*, "The Law and the Blockchain: A Speculative Guide on NFT Classification and the Laws that Govern NFT Sales," International Journal of Blockchain Technologies and Applications vol. 1, no. 2, pp. 68-77, 2023.
Copyright © 2023 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (
CC BY 4.0).
