The world’s first completed copyright case of NFT works: Shenzhen Golden Idea Cultural and Creative Co., Ltd. v Hangzhou Bigverse Technology Co., Ltd.

Abstract

Shenzhen Golden Idea Cultural and Creative Co., Ltd. v Hangzhou Bigverse Technology Co., Ltd. is the world’s first completed case about copyright infringement of non-fungible token (NFT) works in which a final judgment has been rendered. In this case, the Chinese court explored many legal issues related to NFT works based on an in-depth investigation of NFTs’ transaction process and business model. First, it clarified the legal nature of NFT works. Second, it made explicit judgments on the rights and obligations of related parties such as users, internet platforms, NFT distributors and copyright owners. Third, it clarified the duty of care and legal responsibilities of NFT trading platforms. Lastly, it affirmed the measure of disconnecting the link and blackholing the address of the uploaded NFT information to maximize the effect of stopping the dissemination of infringing content.