Are NFTS regulated?

There is no direct state regulatory guidance on NFTs, though a few states have created laws that could hold NFTs under their purview. FinCen has not issued any guidance specific to NFTs, but it has published guidance generally about how the BSA and FinCEN regulations relate to virtual currency that could apply to NFTs.

What are NFTs and why do artists need them?

An attorney and artists’ rights advocate explains. NFTs are blockchain-based records signifying the ownership of digital assets.

What are the benefits of NFTs?

Digital ownership The most prominent benefit of NFTs is that they allow digital artists to make each painting or design piece unique. Therefore, every digitally created work of art has value, and the buyer has a way of proving that they own the original and not a right-clicked copy—all thanks to the power of blockchain technology.

How do you use NFT issuance?

Connect NFT issuance to participation in brand-associated experiences (events you sponsor, for example). Mint NFTs that document attendance of exclusive branded experiences like product launch events or fashion shows. Enhance an existing loyalty program with an NFT collection, like Clinique has done.