NFTs Are a Subset of Ownership

NFTs lack the legal and regulatory protection of other forms of property. In the event of a dispute, there is no oversight. This fundamental principle of crypto projects (decentralization, no middle man, zero trust) limits what can be represented as a non-fungible token.

See also:

  • Smart Contracts Are Not Legal Contracts

    Smart contracts are not recognized as legal contracts and don’t offer the same protections. They are more like stored procedures in that they are scripts that execute on a blockchain.