digital marketplace

One of the main issues facing the enforcement of competition laws, and corresponding compliance efforts, in digital markets is the inherent global nature of the conduct of digital markets players. As the OECD noted in this respect, “Governments may need to enhance co-operation across national competent agencies to address competition issues that are increasingly transnational in scope or involve global firms.” Against this backdrop, the US, EU and UK competition agencies have recently issued joint statements to re-affirm their commitment to cooperate in this area. This blog post provides a short commentary and shows that… there is more in those statements than meets the eye.
Continue Reading Transatlantic Cooperation and Enforcement in Digital Markets

Overview

The buzz surrounding non-fungible tokens (NFTs) reached a fever pitch with the US$69 million sale of an NFT by digital artist Beeple in March 2021. While artwork has remained the predominant use of NFTs – and generated a good deal of media hype along the way − companies across a variety of industries are coming up with new and innovative use cases for NFTs – and turning to our multidisciplinary global team for guidance in the uncharted territory surrounding these digital assets.

First: What Is an NFT?

NFTs are unique tokens based on blockchain technology. Unlike cryptocurrency tokens such as bitcoin, which are fungible, NFTs are digitally unique – no two NFTs are alike. The unique nature of NFTs, as well as the security and other advantageous features of blockchain technology, provide a number of unique benefits, including:

  • Verification of ownership and authenticity
  • Driving of value of digital assets through scarcity
  • Built-in smart contracts for re-sale royalties for artists and other NFT creators
  • Decentralization of digital asset ownership, management and transfers (in other words, independence from large platforms)


Continue Reading Your NFT Playbook