The American Lawyer: As NFTs Spur a Digital Gold Rush, Law Firms Are Getting in on the Action

July 01, 2021

Law firms around the nation are being presented with newfound legal issues tied to the ever-growing nonfungible tokens (NFTs) market, The American Lawyer reported. 

NFT creators range from musicians and artists to sports teams who are seeking legal help to navigate the purchase, sale, trading, and blockchain networks of these new digital investments. 

“The NFT issues are drawing in some clients that weren’t deeply involved in blockchain [previously],” O’Melveny partner Laurel Loomis Rimon said. “But the work itself is drawing from work in blockchain, because you have to understand the underlying technology and how transactions occur to understand how a transfer might occur.”

The American Lawyer subscribers can read the full article here.