On the application of NFT technology in the field of art object protection

Abstract

The article examines the impact of the latest technologies, in particular NFTs (non-fungible tokens), on the art market and the protection of intellectual property rights in the context of digital transformation. The authors analyse the dynamics of the art market, pointing out its rapid growth, as well as the main trends, including the introduction of blockchain technologies and NFTs, which signifi cantly change traditional approaches to the valuation and protection of art objects. At the same time, the author emphasises the importance of improving legislation, in particular, regarding the legal status of NFT and its application in the context of copyright protection. The article discusses the existing problems and challenges, including the growth of piracy in the digital environment, and suggests solutions, including through the use of a blockchain platform to confi rm authorship and protect rights to digital works of art. The authors also focus on the low legal culture in cyberspace, which increases the number of copyright infringements, and the rigidity of the legal system, which cannot quickly adapt to changes in technological progress, in particular in the fi eld of digital technologies and artifi cial intelligence. Another problem is that it is very diffi cult to prove the authorship of a work within the framework of legal procedures, in particular in cyberspace. Thus, the article highlights the need to reform the legal system for more effective protection of intellectual property rights. The authors pay special attention to the conceptual changes in the understanding of art objects that can be presented in different formats: physical, virtual and hybrid, which are looking for new approaches to their valuation and circulation in the art market. The article emphasises the need to improve legislation and practice in Ukraine to combat copyright infringement in the digital environment, as well as the importance of developing a legal culture and technologies that allow for effective protection of intellectual property in the context of their rapid development.