U.K. Committee Urges Protection Against NFT Copyright Breaches and Advocates a Code of Conduct

U.K. Committee Urges Protection Against NFT Copyright Breaches and Advocates a Code of Conduct

user avatar

by Max Nevskyi

3 years ago

A U.K. committee is urging the country's government to collaborate with NFT platforms to combat copyright issues and roll out a code of conduct to safeguard artists.

Infringements arise when NFTs are minted from artistic content without the consent of the original creators or proprietors. Notably, such breaches have sparked multiple legal confrontations in both the U.K. and U.S.

Artists are at risk of seeing the fruits of their hard work pinched and promoted without permission while fraudulent and misleading adverts add an extra layer of jeopardy for investors involved in what is already an inherently risky businessDame Caroline Dinenage MP

Chair of the Culture, Media and Sport Committee, said in an accompanying press release.

Several U.K. soccer teams have launched tokens that provide holders with benefits such as a say in club matters, exclusive merchandise, and special experiences.

We are also concerned that clubs may present fan tokens as an appropriate form of fan engagement in the future, despite their price volatility and reservations among fan groupsthe report said

The committee stated that football enthusiasts investing in sports-related crypto assets might face financial setbacks and could also tarnish the image of the football clubs.

In the world of sport, clubs are promoting volatile crypto asset schemes to extract additional money from loyal supporters, often with promises of privileges and perks that fail to materializeDinenage said in the press release

The committee further urged promoters of NFTs to shoulder the responsibility of safeguarding consumers.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

EDX Markets and Apex Fintech Solutions Form Strategic Partnership

On October 26, 2023, EDX Markets and Apex Fintech Solutions announced a strategic partnership to integrate digital asset trading and clearing technology with Apex's financial infrastructure.

user avatarTenzin Dorje

Increased Rewards for Alpenglow Bugs Announced

Jump Crypto is raising payouts for eligible findings in the Firedancer program, especially for Alpenglow bugs. Effective until Nov 20, eligible findings will receive double the standard reward, with triple rewards for Alpenglow-specific bugs.

user avatarMohamed Farouk

Sean Bowe Calls for End to Automatic Funding for Zcash Community Grants

Zcash cofounder Sean Bowe proposes to halt the automatic allocation of 8 ZEC to the Zcash Community Grants program, citing sufficient treasury funds to cover years of spending.

user avatarBayarjavkhlan Ganbaatar

Solanas Firedancer Introduces Paywall for Bug Reports

The Firedancer team has implemented a requirement for researchers to burn 1 SOL per bug report to reduce AI-generated submissions.

user avatarElias Mukuru

Aviva Investors Expands Tokenized Fund Offerings with Sterling Liquidity Fund Launch

Aviva Investors has launched a tokenized share class of its Sterling GBP Liquidity Fund on the XRP Ledger, marking its second tokenized fund.

user avatarDiego Alvarez

Glamsterdam Upgrade Delayed Despite Security Improvements

Glamsterdam upgrade faces delays despite vulnerability fix due to additional testing requirements.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.