Title: Unwinding NFTs in the Shadow of IP Law Show Chinese title

Title: 解开NFT在知识产权法阴影下的问题

Abstract: Amid the surge of intellectual property (IP) disputes surrounding non-fungible tokens (NFTs), some scholars have advocated for the application of personal property or sales law to regulate NFT minting and transactions, contending that IP laws unduly hinder the development of the NFT market. This Article counters these proposals and argues that the existing IP system stands as the most suitable regulatory framework for governing the evolving NFT market. Compared to personal property or sales law, IP laws can more effectively address challenges such as tragedies of the commons and anticommons in the NFT market. NFT communities have also developed their own norms and licensing agreements upon existing IP laws to regulate shared resources. Moreover, the IP regimes, with both static and dynamic institutional designs, can effectively balance various policy concerns, such as innovation, fair competition, and consumer protection, which alternative proposals struggle to provide. Show Chinese abstract

Abstract: 在围绕非同质化代币（NFTs）的知识产权（IP）纠纷激增的情况下，一些学者主张将动产或销售法应用于监管NFT的铸造和交易，认为知识产权法不当地阻碍了NFT市场的发展。 本文反驳了这些提议，并认为现有的知识产权体系是规范不断发展的NFT市场的最合适的监管框架。 与动产或销售法相比，知识产权法更能有效应对NFT市场中的公地悲剧和反公地悲剧等挑战。 NFT社区也在现有知识产权法的基础上发展了自己的规范和许可协议，以监管共享资源。 此外，知识产权制度具有静态和动态的制度设计，可以有效平衡各种政策考量，如创新、公平竞争和消费者保护，而其他提案难以提供这种平衡。