Does the First Sale Doctrine Apply to NFTs?

An NFT is a non-fungible token that represents a particular copy of digital work.[1] It is a digital certificate of ownership that is secured on the blockchain, effectively creating a traceable record of every time the NFT changes hands.[2] Since digital files can be easily duplicated, NFTs create value for digital artists who otherwise would have difficulty profiting on their work.[3]

Further, when artists sell an NFT of their work, a typical sales agreement would include a mechanism that allows each artist to receive royalties not only on the original sale but also on secondary resales.[4]Read more