ABSTRACT
The development of new technologies tends to give rise to the same quandary: how can these technologies flourish while also protecting citizens from any collateral consequences? How much latitude and freedom should innovators be given in pursuing these technologies is often debated. Non-fungible tokens (NFTs) are one of several products that utilize blockchain technology. NFTs have been hailed by some as the future of commerce while others have derided NFTs as a scam–ridden fad. With virtually no legislation or regulations specifically designed to govern NFTs, a content analysis of litigation involving NFTs was conducted as an effort to help determine which laws are currently being used to regulate NFTs. After a search of LexisNexis, it was determined that 95 decisions, which were rendered in federal courts, discussed NFTs. Among the issues litigated were wire fraud, money laundering, intellectual property law, securities law, arbitration and NFTs as service of process. While it seems like the courts have been able to litigate these cases without blockchain or NFT specific legislation, there are issues of which different courts could interpret different ways, and it seems that enough time has passed for government authorities to begin regulating the blockchain space without endangering innovation.
Shelby T Roberts and OH Griffin III, Finding Law When There is None: An Analysis of Litigation Concerning Non-Fungible Tokens (NFTs), 34 University of Miami Business Law Review 32 (2025).
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