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A legal and economic analysis of non-fungible tokens on the art market
This thesis conducts a legal and economic analysis of Non-Fungible Tokens (NFTs) in the art market, exploring the integration of intellectual property rights and the financial implications of these digital assets. It examines the challenges of applying existing copyright laws, such as the right of f...
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| Format: | Thesis |
| Language: | English |
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School of Economics
2025
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| _version_ | 1867613191071072256 |
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| access_status_str | Open Access |
| author | Chembezi, Titose |
| author2 | Georg, Co-Pierre |
| author_browse | Chembezi, Titose Georg, Co-Pierre |
| author_facet | Georg, Co-Pierre Chembezi, Titose |
| author_sort | Chembezi, Titose |
| collection | Thesis |
| description | This thesis conducts a legal and economic analysis of Non-Fungible Tokens (NFTs) in the art market, exploring the integration of intellectual property rights and the financial implications of these digital assets. It examines the challenges of applying existing copyright laws, such as the right of first sale and fair use doctrines, to the novel context of NFTs, highlighting the need for enhanced regulatory practices within NFT marketplaces. Proposals include the development of reverse image search technologies to mitigate copyright infringement and foster a more robust legal environment. Economically, the thesis compares the valuation of NFTs to traditional art portfolios, acknowledging the difficulty in assessing their intrinsic value due to subjective perceptions and speculative influences. To counteract speculative volatility and establish more grounded valuations, it suggests the adoption of a hybrid approach that combines the expertise of curators with machine learning models and standardized valuation frameworks. The analysis concludes that while NFTs provide significant opportunities for artists by increasing market access and liquidity, the current environment is fraught with legal uncertainties and economic instability. The thesis advocates for the ongoing evolution of economic and legal frameworks to fully leverage the benefits of NFTs in the art market, ensuring they contribute positively to the sustainability and growth of artists' careers and stakeholders. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/40824 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:32:13.078Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2025 |
| publishDateRange | 2025 |
| publishDateSort | 2025 |
| publisher | School of Economics |
| publisherStr | School of Economics |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/40824 A legal and economic analysis of non-fungible tokens on the art market Chembezi, Titose Georg, Co-Pierre financial technology This thesis conducts a legal and economic analysis of Non-Fungible Tokens (NFTs) in the art market, exploring the integration of intellectual property rights and the financial implications of these digital assets. It examines the challenges of applying existing copyright laws, such as the right of first sale and fair use doctrines, to the novel context of NFTs, highlighting the need for enhanced regulatory practices within NFT marketplaces. Proposals include the development of reverse image search technologies to mitigate copyright infringement and foster a more robust legal environment. Economically, the thesis compares the valuation of NFTs to traditional art portfolios, acknowledging the difficulty in assessing their intrinsic value due to subjective perceptions and speculative influences. To counteract speculative volatility and establish more grounded valuations, it suggests the adoption of a hybrid approach that combines the expertise of curators with machine learning models and standardized valuation frameworks. The analysis concludes that while NFTs provide significant opportunities for artists by increasing market access and liquidity, the current environment is fraught with legal uncertainties and economic instability. The thesis advocates for the ongoing evolution of economic and legal frameworks to fully leverage the benefits of NFTs in the art market, ensuring they contribute positively to the sustainability and growth of artists' careers and stakeholders. 2025-01-23T09:06:40Z 2025-01-23T09:06:40Z 2024 2025-01-23T08:59:47Z Thesis / Dissertation Masters MPhil http://hdl.handle.net/11427/40824 eng application/pdf School of Economics Faculty of Commerce University of Cape town |
| spellingShingle | financial technology Chembezi, Titose A legal and economic analysis of non-fungible tokens on the art market |
| thesis_degree_str | Master's |
| title | A legal and economic analysis of non-fungible tokens on the art market |
| title_full | A legal and economic analysis of non-fungible tokens on the art market |
| title_fullStr | A legal and economic analysis of non-fungible tokens on the art market |
| title_full_unstemmed | A legal and economic analysis of non-fungible tokens on the art market |
| title_short | A legal and economic analysis of non-fungible tokens on the art market |
| title_sort | legal and economic analysis of non fungible tokens on the art market |
| topic | financial technology |
| url | http://hdl.handle.net/11427/40824 |
| work_keys_str_mv | AT chembezititose alegalandeconomicanalysisofnonfungibletokensontheartmarket AT chembezititose legalandeconomicanalysisofnonfungibletokensontheartmarket |