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Linking a Digital Asset to an NFT—Technical and Legal Analysis

Author

Listed:
  • William Fernando Martínez Luna

    (Faculty of Law, Jorge Tadeo Lozano University, Bogotá 110311, Colombia)

  • Ana María Moreno Ballesteros

    (Academic Area Digital Industries and Technologies, Jorge Tadeo Lozano University, Bogotá 110311, Colombia)

  • Edgar José Ruiz Dorantes

    (Academic Area Digital Industries and Technologies, Jorge Tadeo Lozano University, Bogotá 110311, Colombia)

Abstract

NFTs (non-fungible tokens) enable the commercialization of goods and services through blockchain technology, enhancing the security, transparency, and speed of transactions. The primary challenge NFTs face is their connection to the underlying asset, ensuring that transferring the token also means transferring the linked asset. This interdisciplinary article examines the technical and legal challenges of creating and linking a digital asset to an NFT. To explain the binding process, an NFT associated with a digital artwork was created, and relevant internal and uniform legal regulations were analyzed.

Suggested Citation

  • William Fernando Martínez Luna & Ana María Moreno Ballesteros & Edgar José Ruiz Dorantes, 2024. "Linking a Digital Asset to an NFT—Technical and Legal Analysis," Laws, MDPI, vol. 13(5), pages 1-19, September.
    • Handle: RePEc:gam:jlawss:v:13:y:2024:i:5:p:59-:d:1475883
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