The Legal Protection of NFT in Indonesia
As of early 2022, the hype of digital assets seems to be exploded. Recent case in Indonesia that a young man has sold his selfies in billions Rupiah on NFT platform called OpenSea, which was traded in ETH cryptocurrency. NFT are now becoming very popular way to sell or purchase digital artwork. Despite unique and innovative, how does Indonesian law protect NFT as a digital asset? Definition of NFT Non-Fungible Tokens or NFT is a unit of data stored on a digital ledger (blockchain) that certifies a digital asset to be unique and therefore non-fungible. NFT as a digital asset can represents art objects such as painting, photograph, videos music and even in-game items. Since NFT exist on blockchain, the data is distributed to a ledger that records transactions. Each NFT is unique, cannot be exchanged and dissimilar to one another, hence impossible to be counterfeited. The purchaser of the NFT will typically have a token and transferring such token between parties is possible. IP Fra...