NFTs, like any other assets, are subject to legal implications concerning ownership, copyright, fraudulent trading, cyber security, and contractual liabilities. Unfortunately, as an emerging technology, few lawyers are currently well-versed in the technicalities of NFT technology. It’s no exception for MetaHorse.
The potential legal risks of NFT
Blockchain as a shared (or decentralized) digital ledger platform has been credited for increasing visibility and transparency, thus helping with fraud detection due to sharing real-time information and allowing all participants in blockchain visibility over transactions.
At the same time, with the recent surge in the value of NFTs, there could be many unexpected legal risks behind. Here’s a list of things we should comply with and keep an eye on:
- Compliance with SEC, FinCen, and state laws concerning virtual currency
- Anti-money laundering and money-transmission compliance
- Structuring sale of NFTs as regulated securities
- Tax planning for NFT transactions
- Intellectual property governance, including royalties
- Setting up corporate entities and LLCs to hold NFTs
- Asset protection strategies
- Consultation on the most advantageous platforms and blockchains for NFTs
- Implementation of smart contracts for blockchain transactions
Gabriel Khoury, the best of the best
When it comes to legal, MetaHorse will not compromise and put our supporters & communities at risk for our benefits. Fortunately, we are honored to announce that Lawyer Gabriel Khoury, who has more than 15 years of experience in the traditional law firm, will join MetaHorse as the primary legal advisor and cover any legal issues. He chooses to join us because he knows that MetaHorse is heading in the right direction for the metaverse.
Gabriel is not your ordinary lawyer. But, he is the best lawyer you can get within this industry when it comes to crypto. Moreover, he is a very enthusiastic lover of the blockchain field. He even attended many events in Dubai just to dive deeper and build connections with brilliant minds within the industry. Evidently, we couldn’t get any better person to take care of our legal department than this man.
To gain a slice of the legal marketplace in the blockchain space, MetaHorse must make sure we do not put our investors and supporter at risk. Simultaneously, providing monetary gains without being a part of any deceptive NFT activity.