What legal aspects should NFT marketplaces consider?
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NFT marketplaces must navigate a complex legal landscape. Addressing copyright concerns, establishing clear ownership rights, and ensuring compliance with local regulations are paramount. Smart contracts can embed licensing terms, automating royalty distributions and ensuring that creators receive compensation for their work during resales. It is essential for NFT marketplaces to collaborate with legal experts to stay abreast of evolving legal frameworks in the dynamic NFT space.