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1 results

  • 19 - Resolving NFT and Smart Contract Disputes

  • from Part VI - Other Legal Issues with NFTs
  • Edited by Nizan Geslevich Packin, Baruch College (City University of New York)
  • Book:
    The Cambridge Handbook of Law and Policy for NFTs
    Published online:
    02 November 2024
    Print publication:
    17 October 2024, pp 372-394

  • Summary

    Non-fungible tokens (NFTs) built in the blockchain are quietly revolutionizing ideas around digital assets despite their questionable status under current law. The smart contracts that control many NFTs are disrupting the way deals are done. At the same time, disputes regarding NFTs and smart contracts are inevitable and parties will need means for dealing with these highly technical issues. The chapter tackles this challenge and proposes that parties turn to online dispute resolution (ODR) to resolve NFT and smart contract disputes efficiently and fairly. Furthermore, the chapter acknowledges the benefits and challenges of current means for addressing blockchain issues and proposes ideas for how designers could address those challenges and incorporate ODR to provide efficient and fair resolutions.