Title: Are NFT’s Dead?: The Metaverse, Blockchain, and Art.

A. Time and location:

Monday May 22nd 19:00 Calle Velazquez 130 V HUB-2

B. Panel:

- Álvaro Bourkaib: Partner (IP,IT, Entertainment, Media) at Cuatrecasas

- Carlos Rivadula: Manager IP/IT at ECIJA

C. Frame:

The underlying question is to assess if we can still extract value from NFT’s or whether
they were just a bluff that now is irrelevant.

Considering that probably the crowd will not only be law students but also students related
more to technology, business and humanities degrees so the conversation should consider
different aspects of NFTs and also maybe a simple level explanation concerning the legal
implications.

D. Phases of the event: Starts at 19:00

1. Panel: Talk between the 2 of you. I will ask some questions as moderator (30-40 minutes)
2. A Q&A: of 2-3 questions (10 mins)

I understand then if you have to leave or are busy don't worry you don’t need to stay but are
more than welcome to.

3. Networking: Showcasing a student’s initiative of the Metaverse where he placed the

paintings of university students. People can start joining the cocktail.

E. Content of the event:

The idea would be to mix a technological aspect of the functioning of NFT’s(1), with also
some (2) financial considerations of NFT in terms of what they are classified as
(utilities/securities) and (3) finally more of a legal approach concerning NFT’ and current
litigation with ip rights that can be explored with the Mango case.

I. [Presentation/Welcoming the speakers] … Could you give us some context on the rise of
NFTs and the technology that propelled their creation?
1. Introduction:
a. How did they rise?
b. What are they? The underlying blockchain technology.
II. How do we mint NFTs, under what kind of protocols does it run and when do we consider
that it is minted? Once it is minted, how are the transaction executed?

2. The Process of Minting an NFT:

a. Standard used (erc 721), use of smart contracts as code.
b. What does the buyer of an NFT acquire?

III. Now if we can shift more towards considerations concerning finance and law. The new
regulation MICA just entered into force however it does not cover explicitly NFTs. How
should we classify them as?

3. Considerations concerning regulation of NFT’s in terms of their legal definition:

a. Difference between it being a security or a utility token.

IV. When one acquires an NFT how is the transmission of IP rights regulated? Are terms and
conditions, in the end, the most essential part? What would happen if the NFT is based on
a pre-existing work?

4. Licensing of NFTs for commercialization purposes and case study of MANGO

a. Regulation of IP rights concerning NFTs: Distinguish between the NFT and

the associated work.
i. In the end is it solely through Terms and Conditions?

b. Background of the MANGO case and the legal grounds

i. Analysis of rights that could be breached:
1. making available to the public rights? reproduction?
2. Right of public exhibition can it be granted in the context of
NFTs and the metaverse in Spain?
3. Any particularities and future considerations? (there was a
previous transformation (from paintings to clothing)
involved before creating it into NFTs?). Would this impact
other future rulings?
5. Conclusion:

Are NFTs a speculative bluff or is there potential for their use and commercial
exploitation?