Why NFT Regulation in the UK Needs Rethinking?
Adekunle Joshua
Mintable CEO Zach Burks believes that the UK government's approach to copyright infringement exaggerates the true potential of NFTs
In an interview, Burks pointed out that the usage of NFTs is evolving beyond speculative art
The UK Culture, Media, and Sport Committee's recent report urged the protection of artists and creators from copyright issues related to NFTs
While acknowledging this, Mintable's CEO argued that these issues aren't unique to "NFTs"
Burks believes that NFT copyright issues are similar to the challenges faced by major internet platforms like YouTube and Spotify
NFTs have a wide array of uses, from car and property records to supply chain systems
Burks highlighted their versatility and urged regulators to understand that NFTs are more than just digital art
This debate continues as Burks emphasizes the need for an appropriate regulation to fully unlock the potential of NFT technology.