Partners Chris Warren-Smith and Daniel Chia spoke to IFLR about recent rulings in Singapore and the United Kingdom on the recognition of non-fungible tokens (NFTs) as property.
The Osbourne v (1) Persons Unknown and (2) Ozone Networks Inc. trading as Opensea case “represents an important step in NFTs being treated as property under English law and if it withstands judicial scrutiny, as is thought likely, means that proprietary remedies will be available to victims of NFT fraud,” said Chris.
“The Singapore decision granting an injunction over the sale of an NFT by the party in breach of the collateral contract is a good development, but it does not remove all the issues with recovery of NFTs,” said Daniel.
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