Following the mainstream adoption of blockchain and cryptocurrencies, two newer technologies have been quickly moving in the same direction: non-fungible tokens (“NFTs”) and the Metaverse. Along with their widespread adoption, the regulatory environment for blockchain and cryptocurrencies has evolved, but remains unsettled in many areas. Because of their relative newness, the regulatory environment for NFTs and the Metaverse is almost completely undeveloped. But that does not mean that companies and individuals operating in the space should not try to anticipate what types of regulations they are likely to face. Building on their deep experience with blockchain, cryptocurrencies, and traditional financial and technological products, this panel will: (1) provide background on NFTs and Metaverse; (2) provide their perspectives on the likely regulatory regimes for each; and (3) discuss how to mitigating risk in this uncertain environment.
Speakers:
Byron J. McLain, Partner at Foley & Lardner
Michael Fluhr, Counsel at DLA Piper
Doug Miller, Senior Trial Attorney of SEC
Shayne O’Reilly, Head of Licensing and Open Source of Meta
Category: Criminal
Corporate and litigation counsel in the Business Law Section of BHBA discussed novel corporate issues and litigation risk management strategies pertaining to various examples of NFT projects. Thomas and Jennifer went over how to advise clients from concept to final mint, touching on various legal issues from formation and profit sharing to licensing and disclosures. This program also spotlights potential conflicts both internal and external to the hottest NFT projects of our time.
Speakers:
Jennifer Goldstein of Michelman & Robinson, LLP
Thomas Gaffney of Olsen and Brueggemann, APC
Category: Business
Listen as our speakers take a broad look at the latest trends in NFTs, how NFTs are being used for new projects in the film/tv/music industry, and what we think will come next for NFTs in this wild wild west.
Speakers:
Jeff Monahan of Monahan Legal, PC
Irene Y. Lee of Russ, August & Kabat
Gavin Bridge of Variety
Moderated by John R. Baldivia of Rossi, P.C.
Category: Entertainment Law
The allure of lucrative NFT sales in entertainment, arts, and sports spaces has created a massive legal minefield. Listen as top legal experts in the NFT space take a deep dive into these NFTs and the legal battles that have sprung from them.
Speakers: Sean M. Sullivan of Davis Wright Tremaine
Jesse Saivar of Greenberg Glusker
Jeremy S. Goldman of Frankfurt Kurnit Klein & Selz
Moderated by Randi D. Bandman of Robbins Geller Rudman & Dowd LLP
Category: Entertainment Law
Top music and entertainment attorneys take a deeper look into the structure of NFT deals, the major negotiation points between rights owners and NFT creators, and the involved parties’ interests at play.
Speakers:
Kent Marcus of Marcus & Colvin, LLP
Colton McGee, VP, Business & Legal Affairs of BMG
W. Joseph Anderson of Manatt
Moderated by Michael Peters of Ramo Law PC
Category: Entertainment Law
The recent explosion of the creation and sale of NFTs has brought about significant concerns regarding the taxation of these transactions for sellers, purchasers, and investors. Tax counsel and accountants for clients holding and selling NFTs must understand applicable tax rules, reporting requirements for these transactions, and the tax treatment of NFTs. An NFT is a digital certificate of certain rights associated with a digital or physical asset. Thus far, NFTs have been created and sold for various assets within the art, music, and sports industries worldwide. However, since NFTs and NFT transactions are fairly new, the IRS has yet to issue guidance directly addressing NFTs. This forces taxpayers to rely on general tax law principles and current IRS guidance on digital assets and virtual currency.
Tax counsel and advisers must recognize applicable tax rules for NFTs, differences to cryptocurrencies, and define proper reporting and tax treatment for NFT transactions.
Listen as our panel discusses critical tax considerations for NFT transactions, tax issues for creators and investors, and other key issues for NFTs.
Speakers:
Jonathan Kalinski of Hochman Salkin Toscher Perez P.C.
Jordan Bass, CPA of Taxing Cryptocurrency
Moderated by Michele F. L. Weiss of Holtz, Slavett & Drabkin, APLC
Category: Taxation Law
