The volatile cryptocurrency market has upended the industry. There is still a huge amount of potential for art. The number NFT is in Ethereum and stores information on digital data on a blockchain.
The art world has been a victim of many forgeries including Chun Kyungja. Fake claims are not the only thing that is getting attention, such as Jean Michel Basquiat’s paintings. A newfound knowledge database is a good resource to verify an artist’s date.
Many of NFT’s artworks violate copyright. The ‘First Ed’ edition includes 5 sessions featuring NFT art. copyright and ownership are different, says a lawyer. In China, an NFT art platform operator admitted he aided in infringing copyright.
The relationship between NFTs and copyright law will evolve over time. We could not attend to financial authorities or receive the government’s view concerning the NFT, art, and cryptocurrency. But we will continue to communicate with the government.