On April 7, Euterpe CEO Jerry was invited to speak in the “CodeX FutureLaw 2022” conference at Stanford.
He indicated that, when users bought mainstream NFTs, they bought no IP rights and usually nothing more than a JPG file and a right to brag about it. An NFT is a series of digits created by smart contracts on the blockchain. An NFT can serve as a certificate of entitlement but does not necessarily grant the holder any entitlement recorded in the certificate. This is similar to the situation where you buy an antique marriage certificate as a collectible and it doesn’t mean you get to marry any person on the certificate.
The Euterpe project strive to develop an important bridge between IP rights and NFT ownership.