On the face of it, NFTs promise unchangeable and undisputable ownership of the contents contained within a smart contract. So, what happens then, when an asset sets sail through the perilous waters of grand larceny and subterfuge. This is the conundrum currently facing televisual producer, Seth Green, a scenario which will likely set a legal precedent for the industry.

Over the last six months or so, Seth has wiled away his days on the ambitious ‘White Horse Tavern’ project, an intriguing live-action televisual concept where NFTs share and interact with the world we live in, with Seth being the proud owner of all the assets contained within the production. Earlier in May however, the star of the show, a Bored Ape by the name of ‘Fred Simian’ was swiped in a dastardly phishing heist, along with fellow NFTs, two Mutant Apes and a Doodle.

.@SethGreen new trailer for his new show, keep your eyes peeled@BoredApeYC @GutterCatGang @veefriends pic.twitter.com/ZzYN87HYWA

— FFVV1211.eth (@FFVV1211) May 21, 2022

The yellow-bellied attack occurred just as Seth put the final touches to the show’s first trailer. Following the theft however, the devious phisherman quickly sold the asset to crypto recluse DarkWing84, who then quite sensibly and immediately transferred it to a vault. All the while, Seth’s desperate pleas reverberate throughout the Twitter community.

Going forward, Seth Green will attempt an amicable solution, only following a legal course if absolutely necessary. According to his legal team however, the IP rights remain with the star due to the nature of the acquisition.

Delving deeper, Seth Green apparently obtained his beloved Ape from none other than Steve Aoki. A man known industrywide for his uncanny ability to plant a hex on any NFT he touches. Keep eyes on this case, it will likely define the future of the NFT legal situation.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post The Seth Green Conundrum Sets Legal Challenge to Bored Ape IP appeared first on NFT Plazas.