NFTs and the 2022 UCC and the CISG

Are NFTs more than just digital assets? It depends on whom you ask: is it an artist or an investor? For an investor, apart from its value, an NFT may be no different from a fungible token or digital record. However, the art community feels passionate about having their work being made available to a global audience.

There is no doubt that NFTs expose local artists to a greater global art community, despite the fact that IP protection poses challenges. The law is still unprepared to address the challenges of the emerging world of technology, with limited case law and legislation available only in a handful of countries. Even so, what law applies, and to what extent could the CISG apply?