In our latest discussion with Ilya Libenzon, a Boston attorney who specializes in patents and intellectual property rights, we touched on the FTX downfall and what the future of blockchain technology may look like. Intellectual property law is actually a fundamental component of NFTs, one of the digital assets that Ilya would use his crypto for.
“As we continue to use this technology, the government will learn more about it and regulate these sorts of things, for now this period in time has allowed for questionable activity to go on without proper regulation. Some of the original benefits to crypto was the decentralized aspect of it, but now we see major exchanges having to uphold tax regulations.”
Intellectual Property and NFTs
During the COVID-19 Pandemic, Mr. Libenzon invested in several NFT projects and advised a few as well. There are many new projects that feature creative work outside of art, such as music and animations. Some of the songs you can buy as NFTs actually come with Intellectual property rights to use the music in any venture, something Ilya was very interested in. He was also a huge fan and collector of the Autograph collection digital cards, featuring his favorite hockey player, Wayne Gretzky.
FTX Is a Wake Up Call
“To see Tom Brady and Larry David in an ad for anything can make a person trust the product. It’s a shame thing like this usually happens when the market loses enthusiasm, it is necessary for people to attempt their withdrawals to reveal the problem at hand. Crypto already wasn’t doing too well and now people have one more negative to look at online. In the end, the only thing we can do is be more conscious of the products we use, even if we see credible celebrities endorsing them.”
To learn more about intellectual property and some ways to maximize your rights, visit Ilya Libenzon’s website timetopatent.com and take a look at the blogs.
Connect with Ilya Libenzon Here: https://www.linkedin.com/in/ilya-libenzon-20a5436/
