Thieves beware! NFTs aren’t just metaproperty
NFTs have been going for a lot of money, but their meteoric rise in value and popularity has been matched by their increasing vulnerability to theft and fraud. However, if they are to be used to transfer valuable assets then it makes absolute sense that normal rights of property attach to them – including the idea that stealing them is wrong and illegal. The UK High Court just recognised this but will its counterparts in other jurisdictions?
Of course, this is only half the battle. Making NFTs less easy to steal is also a challenge in terms of IT security and customer awareness.