NEW YORK & SILICON VALLEY, Calif.–(BUSINESS WIRE)–Foley & Lardner LLP is set to become one of the first AmLaw 50 law firms to create, mint, list, sell and pursue the secondary market of an Non-Fungible Token (NFT). The digital asset, produced by Foley’s NFT Task Force, will be unveiled during a live demonstration on September 14, in which Foley attorneys will take participants step-by-step through the NFT minting and sale process and address critical legal and business considerations along the way.
“While NFTs have gained the world’s attention with their exciting applications for art, recording artists, and digital media, we are increasingly receiving inquiries from corporate interests like professional sports teams, music producers, manufacturers, retailers, and financial services firms looking for advice and counsel on how to apply NFTs and the underlying blockchain technology to their businesses,” said Andrew Lee, Foley of counsel and a member of the NFT Task Force.
“We recognize the value to our clients in being an active participant in the NFT and blockchain market. This disruptive technology is creating new channels of engagements and revenue streams for companies across numerous industries. With boundless potential applications, we want to help demystify the process and highlight the critical legal issues inherent throughout the lifecycle of an NFT,” said Catherine Zhu, Foley special counsel and a member of the NFT Task Force.
In 2021, Foley organized a multidisciplinary NFT Task Force, led by partner Jonathan Israel, comprised of attorneys with experience in areas such as Cryptocurrency & Blockchain; Patents; Payment Systems; Trademark & Copyright; Licensing & Data Sharing/Privacy; Privacy; Monetization; Contracts; and Securities Regulations, attending to all aspects and legal issues in the NFT process.
This webinar, co-moderated by Lee and Zhu, is just one of several cutting-edge thought leadership produced by the NFT Task Force and within Foley’s Innovative Technology sector. Other speakers at the event include partners Patrick Daugherty, Laura Ganoza, Jonathan Israel, Louis Lehot, Byron McLain, and Eric Sophir.
Foley’s representative experience in NFT work includes:
- Advising the Milwaukee Bucks with development and minting of memorabilia as an NFT
- Representing a Major Recording Artists & Crypto Enthusiast in connection with NFT album drop
- Advising a Manufacturer on patent strategies for product innovations involving NFTs
- Counseling a Music Producer on patent strategy for NFT innovation
- Advising Propy on the issuance of the world’s first NFT underlying real property
- Representing private equity investors in NFT-related ventures
- Representing numerous NFT marketplace platform providers
About Foley & Lardner LLP
Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With approximately 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.