This webinar will focus on the aspect of concept of Non-Fungible Tokens (“NFTs”) under the Indian legal system, with specific focus on the issues of money laundering and Intellectual property rights.
The Webinar will be divided into four parts as follows:
1. Introduction – This will include introduction to NFTs, its genesis and characteristics and the
types of works traded as NFTs. A brief overview of the laws/regulations that govern NFTs will be provided.
2. Procedure – This part is sub-divided into 3 sections for ease of understanding:
a. Creation – This section will cover the process of creation of NFTs, the various process/steps involved in the creation of NFTs along with the laws/regulations applicable to each of such steps.
b. Listing of NFTs – This section will cover the process of listing/minting of NFTs, the role of blockchain and the various platforms/marketplaces where NFTs are listed and along with the laws/ regulations applicable to every step in the process involved.
c. Trading – This section will cover the procedure for trading NFTs, the nature of transactions in such trade, the concept and structure of smart contracts and the means of trading, for eg. Cryptocurrencies along with the laws/regulations applicable to the procedure.
3. Legal Lacunae – This part will cover loopholes/drawbacks attached to NFTs and the entire process from creation to trading of NFTs including the scope for abuse of NFTs.
4. Penal Laws – This part will cover the remedies/measures available to every entity involved
in the creation and trading of NFTs.
