Chinese‘of Hangzhoua court in the city, NFTof their products Chinesestated that it is a virtual property that must be protected according to the laws.
The interest of countries in the crypto industry is increasing day by day. In the days when the cryptocurrency market was in pain, they focused on the development side rather than the investment side. Blockchainand NFThas become the focal point of institutions and countries. Singaporeand South Korea among the countries that have been working hard for blockchain have come to the fore. Moreover Chinesecrypto mining and NFT comes up frequently. Finally, Chinesea court in NFTdefined online virtual property to be protected by law.
China Court Takes Positive Step About NFT
Chinese‘of Hangzhoucourt, NFTtook a positive step forward. NFT The court ruled that it had the characteristics of value, rarity, controllability and merchantability. In addition, the court underlined that these properties should be protected by law.
Court for a case NFT decided that the legal nature of its collections should be confirmed. After this decision, the court ruled that Chinese law NFTstated that it does not explicitly stipulate legal qualifications about its collections.
Finally, the court NFT confirmed that its technology is unique digital assets powered by blockchain. He also stated that he owns the intellectual property rights of the collections.
