New Orleans NFT Lawyer

New Orleans NFT Compliance & Consulting Attorney

The cryptocurrency market has exploded in popularity over the past decade, presenting many disruptions to established business sectors while also presenting countless opportunities to investors, business leaders, and entrepreneurs. One of the newest innovations within the cryptocurrency market is nonfungible tokens (NFTs), which are essentially pieces of digital artwork traded on the blockchain.

Experienced Legal Counsel for NFT Compliance and Consulting in New Orleans, LA

A common misconception about purchasing NFTs is the assumption that you are paying for something you can obtain for free just by saving the image. However, when you buy an NFT on the blockchain, you are typically not buying the artwork itself but rather the ownership rights of the artwork or partial ownership rights. The copyright of the work may or may not transfer with it, depending on how the original creator has designed the NFT. Most NFTs are currently traded on the Ethereum blockchain, but other NFT markets are emerging, and it is important to understand the implications of this trend.

If you are a hopeful NFT artist seeking to launch your NFT on the blockchain, it is vital to know how you can protect your work and safeguard the profits you secure from the sale of your NFT. The crypto market is inherently complex in many ways, and the average person may be equally excited by the opportunities presented as they are daunted by the complexity of the NFT market. The Bradley Law Firm is here to provide the legal counsel you need to enter the NFT market with peace of mind.

Attorney Jarred Bradley is not only an avid supporter of the NFT market and cryptocurrency-powered technologies, but also an experienced attorney who has helped many clients in the New Orleans area resolve all types of business-related legal issues, and our team is ready to leverage this experience on your behalf with your new NFT project.

Understanding NFTs and Blockchain Technology

Unlike cryptocurrencies like Bitcoin, which are fungible, meaning they can be exchanged for equal value, NFTs are each entirely unique. The unique token attached to each NFT allows these digital assets to be traded in various ways, kept as stores of value, collected, or even transferred into a form of digital real estate.

Most of the NFT market exists on the Ethereum blockchain. The blockchain is a security system that includes a digital ledger that anyone with a public key can access. This system allows virtually anyone to see blockchain transactions while all parties remain anonymous. Additionally, the security baked into cryptocurrency-powered assets is so stringent that as long as an individual maintains secure control over their private keys, their digital wealth is entirely safe. The blockchain also serves to prevent fraud as every transaction is published.

An NFT can be purchased for one price and later sold for a higher price. Some NFTs will diminish in value over time while others have increased in price dramatically, and some NFTs are selling for the equivalent of millions of dollars in cryptocurrency. If you plan to launch a new NFT and sell it for profit, it is important to have the appropriate legal protections in place that enable you to conduct your transactions safely and legally. NFT creators typically form new business entities, a process that in itself can be challenging to navigate on your own.

What Does a New Orleans NFT Attorney Do?

NFTs are still an emerging technology, and the NFT market is still very new. NFT attorneys are quite rare because the technology is largely considered niche, but with the explosive popularity seen in both the crypto and NFT markets over recent years, it is vital to understand what a New Orleans NFT attorney can do for you if you intend to enter the NFT market.

Your New Orleans NFT attorney can provide a wide range of valuable services, including helping you ensure compliance with applicable securities laws, understanding taxation requirements for NFT sales, navigating intellectual property law to legally protect your NFTs, and even drafting contracts in specific situations.

The Bradley Law Firm offers comprehensive legal counsel for the emerging NFT market, specifically for creators of NFTs. We take time to learn each client’s unique needs so we can develop an individually tailored strategy to help them meet their goals. When you choose The Bradley Law Firm as your New Orleans NFT attorney, you are investing in legal advocates who can not only help you navigate the complex legal issues your situation may entail but also an attorney who is personally invested in the NFT market.

Potential Legal Issues With Cryptocurrency and NFTs

Intellectual property law in the United States is largely established, but NFTs have introduced new disruptions into this legal space. Some NFT creators have seen their works copied, diminishing the value of their own NFTs and their reputational value as NFT artists. Both NFT creators and issuers operating NFT exchanges on the blockchain must take steps to protect their intellectual property. They must also be prepared to pursue legal recourse against any parties that infringe on their intellectual property rights.

Intellectual property infringement occurs whenever one party uses the intellectual property of another party without the owner’s consent. For example, if you were to publish an NFT catalog using a specific art style, this style would become indicative of your brand as a creator. If another party attempts to publish confusingly similar NFTs, this will likely constitute intellectual property infringement. When this occurs, the injured party has the right to issue a Cease and Desist notice to the offending party and pursue compensation for any losses sustained from their infringing activities.

It is important to remember that the NFT market and blockchain technology are still emerging, meaning there is a lot of legal gray area surrounding commercial interactions with NFTs, and you could encounter a legal situation with another party that is technically unprecedented. Your case may seem straightforward at first, only for you to encounter details that are without legal precedent or too nebulous to discern on your own.

If you find yourself in any legal entanglement pertaining to NFTs, not just any attorney will do when it comes to resolving the situation. You need a legal representative who not only understands how NFTs function and the basics of blockchain technology but also has experience resolving cryptocurrency-related legal disputes. The Bradley Law Firm is uniquely positioned in Jefferson Parish to provide clients in the New Orleans metro area with the legal counsel they need in these challenging legal situations. Attorney Bradley has himself invested in the NFT market and keeps close tabs on new developments out of both personal interest and professional obligation to clients. You could encounter an entirely new legal situation pertaining to your NFTs, and the right attorney can make a tremendous difference in how you resolve the situation and the outcome you reach.

Business Consultation for NFT Creators and Blockchain-Powered Business Models

The Bradley Law Firm provides comprehensive legal counsel for all issues pertaining to NFTs, the NFT market, and blockchain-powered technologies. NFT creation has emerged as a viable business model for both individuals and existing enterprises. Some businesses have started selling their stock photography images and proprietary artwork as NFTs, while individual creators have started publishing their original artworks as NFTs on the blockchain.

Our firm can provide guidance and support as you launch your new NFT-based business. If you are a creator, we can help establish legally enforceable intellectual property protections that will enable you to seek accountability if any other party misappropriates your NFTs in any way. If you plan to become an NFT issuer, we can help fulfill your regulatory compliance requirements, assist you in addressing securities law that pertains to your operation, and advise you concerning international trade laws that may influence your business model.

One of the most important aspects of modern business law for anyone entering the blockchain market space is contracts. Contracts are legally binding agreements between two or more parties that dictate each party’s rights and responsibilities in a specific relationship. For example, if you are an NFT creator and plan to work with an issuer to get your NFTs on the blockchain, you need to have a contract in place with the issuer that clearly defines your ownership rights, compensation, division of profits, and conflict resolution options.

The Bradley Law Firm excels at business contract creation for entrepreneurs, business leaders, and individual creators entering the NFT market and other cryptocurrency-powered markets. We can work with you to develop comprehensive and legally enforceable contracts that accomplish the goals intended for them, and we can help you revise any existing contracts should the need arise. If another party has breached a standing contract with you, we can help determine your most viable options for legal recourse and assist you in resolving the situation as effectively as possible.

How Your New Orleans NFT Attorney Can Protect Your Property Rights

Protecting your intellectual property is just the first step in safeguarding your digital assets. You must also know how to respond to any infringement of your intellectual property rights. Part of this is paying close attention to the market space surrounding your NFTs and other digital assets. If you are unsure whether a specific action qualifies as an infringement upon your intellectual property rights, it is crucial to consult a New Orleans NFT attorney as soon as possible. Swift legal action can put a stop to infringing activities and reduce the chances of experiencing further losses from the situation.

Your New Orleans NFT attorney can help you draft a Cease and Desist notice to any parties that have violated your intellectual property rights. When such a violation occurs, they can also help you assess the damages resulting from the infringement. If the offending party’s actions have diminished the value of your NFTs, you may be able to claim compensation for these losses. However, you will need to prove that you suffered actual harm and measurable damages from their actions. You may also have a claim for compensatory damages if the infringement harmed your professional reputation and/or brand identity as a blockchain content creator.

This is one of the more difficult aspects of the laws surrounding the new NFT market. Parties may argue what rights are actually transferred with the purchase of an NFT or whether a seller or issuer has misrepresented a sale in any way. Ultimately, protecting your intellectual property rights can be incredibly difficult even with standard established forms of media. When it comes to the emerging NFT market, these issues become even more complex, and you will need a New Orleans NFT attorney you can trust to make sense of any such situations you might encounter.

What to Expect From Your New Orleans NFT Attorney

The NFT market and the legal issues that may arise therein exist in an interesting space. While some NFT-related legal disputes hinge on established intellectual property law, the incredible amount of customization, variety, and discussion surrounding NFTs has given rise to countless new legal issues among creators, issuers, buyers, collectors, and investors. Ultimately, it’s possible for the NFT market to generate an entirely new branch of intellectual property law over the next several years, and the market remains unpredictable and volatile; it also presents challenges and opportunities in equal measure.

Whatever your stake may be in the NFT market, The Bradley Law Firm is ready to provide comprehensive legal representation to help you achieve your goals. Attorney Bradley will work closely with you to help you launch a new NFT issuing service on the blockchain, establish your intellectual property rights as an NFT creator, navigate complex business law pertaining to NFT transfers and ownership disputes, and much more.

Establishing a solid professional relationship with a New Orleans NFT attorney that you can trust will benefit you tremendously in the future. As the market evolves and new laws are implemented, your legal team can help you make clearer sense of the various situations you might encounter in the future as an NFT creator, brand owner, or participant in the crypto market in any capacity. Attorney Bradley and his team at The Bradley Law Firm are ready to provide the legal counsel you need in Jefferson Parish, so contact us today and learn more about the legal services Attorney Bradley can provide as your New Orleans NFT lawyer.