COPYRIGHT PROTECTION IN THE NFT ECOSYSTEM: THE DILEMMA OF THE LEGAL NATURE OF A TOKEN

Abstract

This article examines the main problems of protecting copyright objects embodied in non-fungible tokens (NFTs) in the context of fragmented regulation of digital assets in Ukraine. It is established that, according to current legislation, an NFT should be qualified as a digital thing (virtual asset), and not as an independent copyright object.

Particular attention is paid to the distinction between ownership of the token itself and property rights to the work. Using the method of legal modeling, the ability of a smart contract to perform the functions of a license agreement is clarified; It is proven that without compliance with the requirements of the law and a direct indication of the transfer of rights, a smart contract is only a technical mechanism that does not grant the buyer property rights to the work, which leads to a legal conflict regarding the scope of the buyer's rights.

The authors also analyze the problem of unauthorized creation of NFT, given that NFT is technically not a copy of the work, which complicates the qualification of infringement. Using the example of international court precedents (Hermès v. Rothschild, VEGAP v. MANGO), the lack of a unified approach in world practice is proven. It is proposed to consider NFT as a form of registration of property rights (in the status of a secured virtual asset) and the need for legislative regulation of these legal relations to protect the rights of creators and investors is substantiated.