Institutional adoption of blockchain-based solutions remains on the rise. In the United Kingdom, the court has now allowed the law firm Giambrone & Partners LLP to serve legal proceedings via NFTs.
As part of a case of crypto misappropriation, Giambrone & Partners delivered legal papers directly to the defendant’s crypto wallet. This was done through an NFT airdrop.
NFTs (non-fungible-tokens) are specific tokens that symbolize ownership over an item. These can be images, pieces of digital land in the metaverse, etc. Now, this is extended to legal papers as well.
Giambrone & Partners’ representative stated that NFT-based delivery of legal documents provides more protection for crypto consumers. However, according to the respected legal firm, Anderson Kill, there could be little practical advantage to this method. That is especially the case if the defendant simply decides to never use the wallet to which the NFT had been delivered.