The US government wants oversight on NFTs… is that a good sign?
Itching for a story about copyright law?
Say no more, we've got you.
Here's what's going on in this story:
Two US senators recently wrote a letter to the U.S. Patent and Trademark Office and U.S. Copyright Office, requesting that they get their act together RE: NFTs and copyright.
Arguing (and we're paraphrasing here):
'NFTs are moving past plain old .jpgs of apathetic monkeys - these things are EVERYWHERE...we need some rules to be set, my dudes.'
...or as they put it:
"NFTs can be found in nearly all spheres - from academia to entertainment to medicine, art, and beyond.
Thus, it is imperative that we understand how NFTs fit into the world of intellectual property rights".
(Ours was better).
The idea of adding more government oversight into the NFT space (and crypto as a whole) may not be your cup of tea - but even if you're yelling 'keep your grubby mitts off my NFTs!' at your screen right now, there's still a silver lining here...
Promising new ideas / businesses / products, will usually ruffle some feathers.
So if you're pissing someone off, it might be a good sign.
For example:
Napster vs. the music industry.
Mac vs. P.C.
Is it a little crazy to think that NFTs might take the place of paper medical records, general contracts and home deeds in the future?
Sure.
But when U.S. senators begin sharing that vision (regardless of their intentions), it makes it all a little less crazy.