Intellectual property and the future of NFT market

The paper aims to discuss the NFT market and the alleged causes of the crisis. Legal causes for the NFT crisis are the IP system based on human creativity benefits grant, unaffected WIPO agency orientations and propositions, and the same for local Government, AI as substitute goods and its regulation again linked to the IP system. NFT uncertainty and inclusion into a regulated market, including taxation, reduce the potential growth based on demand. AI is a substitute and not a complementary good, and the free outcomes from AI models in art and pictures are now part of the goods offered. The surviving NFT market still stands but reduced from the 2023 peak. However, a new regulation is needed to clarify definitions and possibilities of future growth and the market boundaries in the metaverse.