Everybody early to NFTs at least considers starting their own project. I’m a big fan! One of the coolest aspects of NFTs is their ability to turn somebody’s passion into a legitimate business. Will many of these project fail? Sure. Most small businesses fail, too. But Web3 removes the barrier of entry, which is a huge net-positive, especially for creatives.
I often get the question from potential project founders on what they need to be doing from a legal perspective. I put together the below checklist to answer that question, and instead of emailing it out to people who ask individually, it makes sense to just post it here for anybody’s use.
For more information on important contract terms for NFT contracts, read my article here. For some copyright basics, read this article. For details on why forming an LLC is a smart move for NFT project creators/collectors, read this article. Nothing on this blog is to be considered legal advice, but hopefully this living document and my other articles form good informational basics for non-lawyers in the space to have.
If you think I missed anything, let me know and I will make this a living document that I will continue to add to. If you are a project founder and want to retain me for help with any of the above or would like a recommendation on other attorneys in the space to hire, don’t hesitate to reach out to me. I can’t help you with all your NFT related legal needs, but I can almost certainly direct you to somebody who can.
If you have any questions or would like me to write about anything else, let me know on either of my twitter pages! As always, I am an attorney, I am not your attorney. For legal advice, you should always consult (and pay for) an attorney.