NFT is not property but a digital certificate; The buyer generally receives the "metaverse viewing rights" NOT the copyright. Contract detail is critical.
What is NFT, legally?
- Smart contract based singular "non-fungible" token.
- References a digital asset (work, music, video, game character).
- Not property; "who owns" certificate.
- Rights related to ownership are determined by contract.
Relationship with FSEK
- NFT buyer: does he own the copyright? No, unless expressly assigned by contract.
- FSEK art.48 - written transfer of copyright is required.
- Can NFT be considered a smart contract transfer tool? — Controversial; most marketplaces configure it as "license".
- The moral rights of the author (art. 14-17) are not transferred.
Trademark and patent
- NFT project must register a trademark (word + logo).
- Hermès vs. MetaBirkins lawsuit: NFT may be trademark infringement
- Turkish SMK art.7 — trademark right covers the digital field.
Consumer law
- Can an NFT buyer be considered a consumer? — Individual buyer yes.
- The right of withdrawal is 14 days — whether it can be used for digital products is debatable.
- “Fake art” claim — refund + compensation.
Frequently asked questions
I bought an NFT; Can I use the work commercially?
Smart contract / NFT marketplace terms of use should be checked. Common model: personal use + digital imaging; separate license for commercial use. BAYC (Bored Ape) example: grants commercial use rights.
I bought a fake NFT (printed someone else's work); What should I do?
Complain to OpenSea / Magic Eden + request a refund. For Türkiye: Contract with error in TBK + copyright infringement complaint in FSEK. Marketplace role: intermediary liability (5651 annex 4).
I'm starting an NFT project; How is KVKK compliance?
Wallet address may be considered personal data (US and EU disputed). Yes, if you are doing KYC. Information text + terms and conditions + privacy policy requirement.
How to pay NFT tax?
There is no clear regulation at the moment. Practical: in the business/self-employment earnings category. Professional sales (100K+ per year) income tax; Incidental sales tax exemption is controversial.
Will Royalty (royalty income) be paid to me automatically?
OpenSea royalty "opt-in" in 2022 — marketplaces may not be implementing it. Magic Eden did not enforce Blur. We make a contract and offer additional legal assurance.
Relevant legislation
- Law No. 6493 — Payment and securities; KVHS compliance framework.
- 5549 SK — MASAK crypto notification and compliance.
- BRSA 2021/30 — Ban on using crypto in payments.
- CMB Crypto Communiqué — Crypto issuances (in draft process).
- KVK + GVK — Crypto earnings taxation framework.