What GCs Exploring NFT, Web3 Opportunities Need to Know
Companies across every industry are jumping into NFTs, seeking to seize what they perceive as huge business opportunities. Attorneys working in the space see myriad reasons to be bullish, despite a recent plunge in NFT sales and a host of tricky legal and regulatory issues companies entering the field must navigate.
⚠️ Missing opportunities in this emerging field could be catastrophic. Businesses that fail to evolve will cease to be competitive.
⚠️ Those making such moves are undeterred by a nearly 92% drop in NFT sales in the first week of May, compared with the all-time high last September.
⚠️ NFT startups raised $2.4 billion in the first quarter, representing 25% of all blockchain funding, which shows the market is going strong, and has barely slowed despite the transaction drop.
The flow of capital into new transactions is still at a breakneck pace. We’ve got deals as if nothing happened in the public markets.
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