Technology
Apr. 27, 2021
Legal issues to watch in navigating the secondary market for NFTs
In many ways, the plane is being built in mid-air. Concrete statements about what an NFT can or cannot do, and even what it is, have the potential to mislead.
For many in the art world, "flipping" is something of a dirty word. Buying a piece, only to turn around and sell it in the secondary market for a quick profit, risks creating a speculative bubble for that artist's work. The price shoots higher and higher, even before a young artist has had their own solo gallery show, let alone an exhibition in a museum. For most artists the price soon falls precipitously, the artist's market is burned, and it is a struggle for the...
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