NFT rights for artists and buyers

Intrigued by NFTs? A legal expert unveils complexities surrounding ownership, copyright and NFT royalties.

NFT scandals are at the top of the art world’s gossip these days but its star status doesn’t seem to have reduced any of the confusion around its transaction, ownership, and value. 

Even high profile artists find the NFT market difficult to navigate. For example earlier in the year Takashi Murakami withdrew his first NFT drops halfway through the auction on OpenSea in order to ‘maximise the convenience for the collectors/owners while strengthening their satisfaction and sense of security in owning the works,’ read his official Instagram statement

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Celina Lei is ArtsHub's former Content Manager. She has previously worked across global art hubs in Beijing, Hong Kong and New York in both the commercial art sector and art criticism. She took part in drafting NAVA’s revised Code of Practice - Art Fairs, and was the project manager of ArtsHub’s diverse writers initiative, Amplify Collective. Celina is based in Naarm/Melbourne. Instagram: @lleizy_