Cryptokitties, Art Tokens And Bored Apes In The Metaverse: How Non-Fungible Tokens (NFTs) Challenge Australian Copyright Law During An Age Of Disruption

Abstract

<p>The post-COVID-19 era is an age of disruption, which presents significant social, cultural and technological challenges and opportunities for society at large. There has been substantial wealth generation fuelled from digital currencies, which has led to interest and sales of Non-Fungible Tokens ('NFTs') and their associated assets. This article will examine the growth and hype about artistic NFTs in the context of recent years. It will then examine the application of current Australian copyright laws to such NFTs and their assets to determine subsistence and infringement of these works. The notion of what it means to 'own' an NFT will be examined. When applying traditional proprietary notions of ownership to NFTs, it will be seen that they have the capacity to challenge established norms which have evolved in a material, pre-technological world. Finally, this article will ponder the question as to whether a new type of virtual ownership right is emerging for NFTs and their associated assets.</p>