Intersection between Non-Fungible Token with Geographical Indication and Cultural Heritage on the Internet

Abstract

A Non-Fungible Token (NFT) is a digital token without equivalence, so unlike a digital currency, NFT cannot be used as a tool of exchange. Instead, NFT represents an object and certifies the scarcity of the object, verifies the owner of the object, and provides the owner with a specific means to move the object as a digital asset. Objects which are represented by NFTs can consist of artistic works, signs, and other visual objects on the internet. So, NFT objects can also be the object of Copyrights‘ artistic works or unique aspects of Geographical Indications and Cultural Heritage. The problem is, guaranteeing the scarcity of NFT‘s objects is not exactly the same with guaranteeing the originality of Copyrights‘ works nor the true origin of Geographical Indications and Cultural Heritage‘s objects. There are phenomena where the unique appearances of Champagne wine‘s bottle and India‘s cultural heritage have been minted as NFTs by individuals other than the collective right holders and being sold at high prices. In this regard, using case study, juridical analytic and legal comparison methods, this article analyzes the potential problems of the intersection between NFT with Geographical Indications and Cultural Heritage and how the problems could be solved in the further amendments of the related laws.