Linking a Digital Asset to an NFT—Technical and Legal Analysis

William Fernando Martínez Luna (), Ana María Moreno Ballesteros and Edgar José Ruiz Dorantes ()
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William Fernando Martínez Luna: Faculty of Law, Jorge Tadeo Lozano University, Bogotá 110311, Colombia
Ana María Moreno Ballesteros: Academic Area Digital Industries and Technologies, Jorge Tadeo Lozano University, Bogotá 110311, Colombia
Edgar José Ruiz Dorantes: Academic Area Digital Industries and Technologies, Jorge Tadeo Lozano University, Bogotá 110311, Colombia

Laws, 2024, vol. 13, issue 5, 1-19

Abstract: NFTs (non-fungible tokens) enable the commercialization of goods and services through blockchain technology, enhancing the security, transparency, and speed of transactions. The primary challenge NFTs face is their connection to the underlying asset, ensuring that transferring the token also means transferring the linked asset. This interdisciplinary article examines the technical and legal challenges of creating and linking a digital asset to an NFT. To explain the binding process, an NFT associated with a digital artwork was created, and relevant internal and uniform legal regulations were analyzed.

Keywords: blockchain; legal regulation; NFT; digital asset; metadata; smart contract; token (search for similar items in EconPapers)
JEL-codes: D78 E61 E62 F13 F42 F68 K0 K1 K2 K3 K4 (search for similar items in EconPapers)
Date: 2024
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