Your Legal Guide to NFTs, the Metaverse, and Web3
June 14 – 16, 2022 | 1:00 – 2:00 p.m. ET
Non-fungible tokens (NFTs), the metaverse, and Web3 bring with them a host of new legal challenges in such areas as IP, securities law, tax, and advertising. As NFTs revolutionize the digital landscape and global economy, it is crucial to stay ahead of the game by remaining informed.
Join us for a three-part webinar series that will guide you through the legal issues you must navigate in the next phase of the digital revolution, including NFTs, the metaverse, and Web3. Our attorneys will discuss the nuts and bolts of an NFT deal, with a focus on intellectual property, securities, and other regulatory concerns. We will also go deeper into tax implications and unique issues related to advertising and promotions.
Session 1: The Nuts and Bolts of an NFT Deal
Tuesday, June 14 | 1:00 – 2:00 p.m. ET
NFTs are rapidly permeating every industry, evolving in their utility, and companies need to stay in the know on how to best leverage this new technology while protecting their business and assets. Our panel, including co-chair of our Blockchain and Digital Currencies Group Chris O'Brien, will discuss the basics of an NFT deal and answer questions such as:
- What are best practices for rights holders and platforms when exploiting an NFT?
- What rights are typically granted with an NFT?
- Who would defend and assert intellectual property rights as between the rights holder and the NFT marketplace?
- As NFTs evolve, what other considerations should be taken into account?
- Is an NFT a security under U.S. law?
- How do legal rights work and get enforced in a global digital environment like the metaverse?
Joshua Kaufman, Partner, Venable LLP
Jim Nelson, Partner, Venable LLP
Chris O'Brien, Partner, Venable LLP
Chris Boone, Senior Associate, Venable LLP
Session 2: Tax Considerations for Digital Assets
Wednesday, June 15 | 1:00 – 2:00 p.m. ET
Attorneys from our Tax Practice will explore the tax considerations associated with the creation, use, and transfer of NFTs for different types of investors. They will also discuss tax issues surrounding the metaverse and Web3. Topics will include:
- What are the applicable tax rules?
- What are the tax characteristics for the particular interest or transaction?
- What are the tax considerations for different parties and investors?
- What are the tax considerations for various transactions and structures?
- What are the tax reporting considerations?
Friedemann Thomma, Partner, Venable LLP
Theresa Clardy, Counsel, Venable LLP
Session 3: Advertising and Promotions
Thursday, June 16 | 1:00 – 2:00 p.m. ET
Can a company use NFTs as a means to advertise? What about as a prize in promotions? Get answers to these questions and more as partners from our Advertising and Marketing team discuss how to stay legally compliant while running sweepstakes, contests, and other types of prize promotions. Topics will include:
- How to educate your customer prior to NFT release and promotion
- Brand advertising and consumer protection considerations
- NFTs and virtual currency in giveaways, games, and gambling
- NFTs in charitable promotions and fundraising
- NFTs for advertising and promotions in Web3 and the metaverse
Ellen Berge, Partner, Venable LLP
Melissa Steinman, Partner, Venable LLP
Venable's Blockchain and Digital Currencies Group counsels advisors, entrepreneurs, startups, and established companies on legal and policy issues surrounding the use of blockchain technology. Our lawyers have comprehensive, firsthand experience with implementing blockchain initiatives and advising organizations in the emerging field of cryptocurrency assets.