Vladimir Okhotnikov on NFTs and Legal Loopholes in the Field of Digital Assets

The Okhotnikov Analytical Center has published a review on the virtual asset protection and NFT possibilities in the modern world of digital data.

The head of the center, Vladimir Okhotnikov, a well-known analyst, publicist, and expert on blockchain and cryptocurrencies, notes that the development of digital technologies requires a new approach to protecting intellectual property and personal data from unauthorized access and fraud. In this regard, Okhotnikov mentions the company Amazon, which acts unlawfully by deleting books and other content from users’ devices without their knowledge and consent.

Vladimir Okhotnikov: “This is a violation of consumer rights and demonstrates the inability of the legislation to effectively respond to such cases. Users should not lose access to platforms and their content due to the actions of companies.”

An example is BitTorrent, which is similar in concept to blockchain. The head of the center notes transparency and greater reliability for users of decentralized services, including less control from administrative authorities and the SEC. Okhotnikov points out obvious gaps in the regulation of the digital assets market in the current legislation.

Vladimir Okhotnikov objectively assessed the possibilities and disadvantages of NFTs. The analyst says that despite the immaturity of the market, non-fungible tokens can be placed on the same level as traditional collectibles because they have similar characteristics: the value of many digital collectibles does not depend on their functionality, and their ownership is not necessarily associated with the possession of a physical object.

Speaking of the protection of copyright and stabilization of the NFT market, solutions are proposed in the development of technologies and infrastructure that will overcome the speculative nature of the NFT market and make it more stable. In addition, the importance of being able to develop the cultural and historical significance of NFTs in the future is also emphasized.

The head of the center sums up the results and suggests looking at NFTs differently. Read more about what will make loot boxes and skins available only to you and bypass Steam in the articlе.

About the Okhotnikov company

The Okhotnikov Center was created as an accessible engineering tool for implementing blockchain into real life. The company creates platforms and services based on decentralized technology. The center's experts develop and implement complex business plans in the field of cryptocurrencies. The company's mission is to help businesses successfully integrate into the decentralized finance (DeFi) system.

Vladimir Okhotnikov's Press Center
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