NFT and online fantasy sports are the rights of the players and creators

NFT and online fantasy sports are the rights of the players and creators
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Online fantasy sports have gained popularity in recent times with millions of players participating in various online fantasy sports games and tournaments in India. Now, with the advent of non-fungible tokens (NFTs), new companies are entering the market to improve the gaming experience for their players.

NFTS is a type of digital asset that is verified on the blockchain and has a unique identifier that makes it irreplaceable. They have been used in the creation of digital art, the creation of music, and the creation of virtual real estate. In the online fantasy sports space, NFTs are used to generate unique player cards that can be used to trade, buy, and sell in different markets.

The recent Delhi High Court ruling on non-fungible tokens (NFTs) in the “Rario vs Striker” case has had a huge impact on OFS and the Web 3 industry. Basically, the court said that NFTs are free to use and no one has exclusive rights to its use.

In another case, the Delhi High Court said that the use of names and photographs of celebrities for satire, parody, art and news is protected by Article 19(1)(a) of the Constitution and will not prejudice the no one’s right to free publicity. This has a huge impact on fantasy sports platforms that use player names and photos.

The court ruling is a positive step in the fight for innovation and free market access. It’s important to note that NFTs can be used in many different ways, from creating unique digital works of art to enriching the gaming experience. By declaring that NFTs are freely available, the court has clarified that no one has exclusive rights to the technology or the use of the technology.

The court’s decision recognizes the value of art and freedom of expression in a free and democratic society. The court correctly affirms that the use of names and images of celebrities for satire and artistic expression is protected speech within the meaning of the Constitution. Therefore, fantasy sports platforms can use the names and images of the players for commercial purposes, as long as they do so in the artistic and free expression sense.

The court also correctly noted that there is no difference between an OFS game with NFT-enabled player cards and an ordinary OFS game in terms of player name, artwork, or photograph. These elements are essential for the game and the enjoyment of the players. The presence of NFT does not alter this essential element of the game.

The Delhi High Court order is a step in the right direction for the NFT sector and technology in general. The court order upholds innovation and the principle of free access to technology while recognizing the value that NFTs can offer to various industries. As the use of NFTs increases, courts and regulators must continue to promote their use in a way that is beneficial to all stakeholders, from innovators to consumers.

However, the ruling does not mean that NFTs can be used in sports. For example, it does not allow anyone to create an NFT that does not respect the rights of athletes or the rights of any sports organization. As with any emerging technology, a well-thought-out set of rules and regulations will need to be in place to protect the interests of stakeholders.

In the meantime, however, the High Court’s interim ruling will set an important precedent, paving the way for mass acceptance of NFTs and allowing artists and individuals to take full advantage of this emerging technology. If properly supported and nurtured, NFTs will open up new possibilities for creators beyond the realm of online fantasy sports.

Credit: The trendswire


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