Non-fungible tokens : implications for virtual property

Abstract

This dissertation, being a literature study, has the aim of determining the implications for virtual property due to the extent in which the introduction of non-fungible tokens influence virtual worlds and virtual property. At its core, the findings of this study concluded that the legal aspects relating to the interplay between virtual world and virtual property was too wide to give an accurate answer of the aim of this study. Due to the constraints of the study, it is not possible to explore all the implications non-fungible tokens have on virtual property. Nevertheless, the topics of discussion in this study concluded with certainty that non-fungible tokens are indeed influencing virtual worlds and virtual property resulting in implications for virtual property. With non-fungible tokens only recently burgeoning in popularity, an effort is made in this study to explain not just what non-fungible tokens are, but also the technology surrounding it. With a better understanding of the latter, it is possible to understand the applicability of possible remedies and how Cyber Law finds applicability thereto. Whether non-fungible tokens will in the future form part of our daily lives remains unanswered at this time, for now this study at the minimum provides a basis for others to expand upon and develop the law.