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

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

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

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.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Gate Reports Impressive Cold Storage Coverage Ratio

Gate's cold storage coverage ratio reached an impressive 104.58%, ensuring all user assets are secure.

Rajesh Kumar2 hours ago

Gate Launches Innovative Proof of Security Framework

Gate has launched a new asset security verification framework called Proof of Security (PoSEC), becoming the first digital asset trading platform to implement such a system.

Miguel Rodriguez3 hours ago

US DOJ Launches Task Force to Combat AI Misuse

The US Department of Justice has launched a task force to combat the misuse of advanced artificial intelligence, ensuring American leadership is not compromised by bad actors.

Luis Flores4 hours ago

Mercado Bitcoin Suffers Major Security Breach with $48 Million Stolen

Mercado Bitcoin has reported a significant security breach, with over $48 million in assets stolen across 11 blockchains. The breach occurred on November 2, 2023, challenging the exchange's claims of containment.