#24 - Who holds IP of a stolen NFT?

This episode reviews the case of Seth Green's stolen Bored Ape, Jarkesy v. SEC & much more.

This episode reviews the IP ownership rights associated with Board Ape #8398, after actor and producer Seth Green (who licensed it for his series, White Horse Tavern) was scammed in a phishing attack. The stolen NFT was then sold to "DarkWing84" for $200,000.

Neeraj K. Agrawal @NeerajKA

Seth Green developed a whole show around his bored ape, because by owning the NFT he owned the right to that character. Then someone stole it. Now Seth doesn’t own the IP to the character in his show anymore

buzzfeednews.comSomeone Stole Seth Green’s Bored Ape, Which Was Supposed To Star In His New ShowThe actor has been pleading on Twitter with “DarkWing84,” who bought his ape from a scammer, to return it.

This episode is largely based on an enlightening thread by James Grimmelmann (@grimmelm), who dove deep into the issue, with additional notes from prominent crypto lawyers Drew Hinkes (@propelforward), Jake Chervinsky (@jchervinsky), Preston Byrne (@prestonjbyrne), and others.

We also cover the recent decision in Jarkesy v. SEC, in which the Fifth Circuit essentially stated that the SEC must go through Federal courts in fraud cases. The implications may be greater than that, and this will be an important case impacting the future of the SEC. 

Other updates include a decision from Hermès International, et al. v Mason Rothschild, an update from LUNA, LexDAO's latest guidance on metaverse lawyering, and more.

Much credit for this episode goes to the incredible sources, including James Grimmelmann (@grimmelm), the CryptoLaw Newsletter (@cryptolaw_news), and a newsletter by two bright law students, Around the Blockchain - which covers everything happening within the crypto law space, every single week. You can find their newsletter on Substack, Around the Blockchain.

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I learned a great deal from the legal minds mentioned throughout the episode, hope you enjoy this!

- Jacob Robinson