CEU Electronic Theses and Dissertations, 2024
| Author | Zafar, Muhammad Hashim |
|---|---|
| Title | Non-Fungible Tokens (NFTs) and the Problem of Copyright Exhaustion in the Digital Age |
| Summary | This thesis explores the transformative potential of Non-Fungible Tokens (NFTs) within the realm of digital copyright exhaustion. NFTs are unique virtual tokens created through computer code and linked to smart contracts, ensuring their non-fungibility on blockchain technology, a decentralized public ledger. This burgeoning technology is revolutionizing various domains, notably art and creativity, by linking tokens to copyrighted works, enabling secure and transparent transactions, and providing immutable records of ownership and sales history. This study delves into the significant legal implications of NFTs, particularly in relation to the principle of copyright exhaustion. Traditionally, copyright exhaustion implies that once a copyrighted work is sold, the author relinquishes control over subsequent sales. However, this principle faces challenges in the digital age, where works are often disseminated online as e-books, audio files, and software programs. This thesis examines whether the sale of digital works should be treated equivalently to physical works under copyright law, in line with the principle of technological neutrality. Through a detailed analysis of key legal precedents, including the Court of Justice of the European Union (CJEU) cases and case from the United States, the thesis juxtaposes differing legal interpretations and their implications for digital content ownership. It further investigates the inherent characteristics of NFTs, their interaction with existing copyright laws, and the evolving policy discussions surrounding them. Acknowledging the nascent stage of blockchain technology, the thesis underscores the need for policymakers to revisit digital copyright exhaustion, considering the opportunities and challenges presented by NFTs. By offering a comprehensive exploration of current practices and future potential, this thesis contributes to the ongoing scholarly debate on the adaptation of copyright law in the digital age. |
| Supervisor | Botta, Marco |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2024/zafar_muhammad.pdf |
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