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Category: Immersive Technology / Metaverse

How are Non-Fungible Tokens Stolen?

Reading time: 13 minutes

Written by Marilyn Sim | Edited by Josh Lee Kok Thong

We’re all law and tech scholars now, says every law and tech sceptic. That is only half-right. Law and technology is about law, but it is also about technology. This is not obvious in many so-called law and technology pieces which tend to focus exclusively on the law. No doubt this draws on what Judge Easterbrook famously said about three decades ago, to paraphrase: “lawyers will never fully understand tech so we might as well not try”.

In open defiance of this narrative, LawTech.Asia is proud to announce a collaboration with the Singapore Management University Yong Pung How School of Law’s LAW4032 Law and Technology class. This collaborative special series is a collection featuring selected essays from students of the class. Ranging across a broad range of technology law and policy topics, the collaboration is aimed at encouraging law students to think about where the law is and what it should be vis-a-vis technology.

This piece, written by Marilyn Sim, seeks to discuss a question that has as of late not yet been dealt with in most jurisdictions – how are Non-Fungible Tokens (“NFTs”) stolen? More specifically, what does it mean for an NFT to be stolen in fact, and if it can indeed be stolen, what are the chances of an individual reclaiming his or her NFT? This paper surveys available material and comes to the finding that NFTs can be stolen in direct and indirect ways.

Unpacking the Lootbox: Legally Dubious, Ethically Odious

Reading time: 13 minutes

Written by Nigel Ang Teng Xiang | Edited by Josh Lee Kok Thong

We’re all law and tech scholars now, says every law and tech sceptic. That is only half-right. Law and technology is about law, but it is also about technology. This is not obvious in many so-called law and technology pieces which tend to focus exclusively on the law. No doubt this draws on what Judge Easterbrook famously said about three decades ago, to paraphrase: “lawyers will never fully understand tech so we might as well not try”.

In open defiance of this narrative, LawTech.Asia is proud to announce a collaboration with the Singapore Management University Yong Pung How School of Law’s LAW4032 Law and Technology class. This collaborative special series is a collection featuring selected essays from students of the class. Ranging across a broad range of technology law and policy topics, the collaboration is aimed at encouraging law students to think about where the law is and what it should be vis-a-vis technology.

This piece, written by Nigel Ang, explores current global regulatory measures surrounding loot boxes in video games. Question explored include: What is the problem with lootboxes that the proposed measures are attempting to solve? Who is, or should be liable for these problems? What is the next step for regulators and game developers? To answer these questions, focus will be on the interaction between both legal and non-legal regulatory measures taken, and the quirks and qualities of the technology each seeks to regulate. This includes the content of the games themselves, intermediary platforms that host such content such as app stores, and self-regulation from within the sphere of game development. The cultural and psychological phenomena that underpin the impetus for lootbox regulation will also be discussed.

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