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The blockchain-based game Axie Infinity has seen rapid growth since its creation, but a recent hack might stall its progress. On top of its existing in-game economic problems (which were largely characterized by runaway inflation), this recent hack will likely make for a turbulent course as its developer—Sky Mavis—does its best to move forward.

What does the current scenario look like? Is there any chance of a legal battle? And will Axie Infinity be able to survive the aftermath? Let’s find out.

The Current Scenario

The SEC’s lawsuit against Ripple has attracted a lot of attention over the past year, largely because it could have massive ramifications for blockchain’s development in the U.S. If the SEC wins, they’ll have regulatory authority over various digital assets, not just XRP, and that could create more barriers to development as stringent reporting and registration requirements are imposed on a wide range of blockchain-based products.

On the other hand, a victory for Ripple could mean there’s less regulatory oversight for blockchain businesses to worry about. The end result would be accelerated development in the U.S., solidifying cryptocurrencies as a viable option for investors throughout the nation.

Recent developments may help move this case toward its conclusion, but is the end really in sight? Or is it just the beginning? To find out, let’s look at where everyone currently stands.

Many transactions conducted on the blockchain utilize smart contracts. Many of these agreements are based in code only, while others—called ancillary smart contracts—are paired with written text contracts.

There are, of course, many issues to take into account when it comes to negotiating, designing, coding, and enacting smart contracts. Legal issues in particular can be especially challenging to manage, with more complex agreements creating difficulties for the parties involved.

Is a Smart Contract Enforceable?

DAOs have proven to be an effective way to build organizations without leaning on rigid hierarchical systems. However, the fact that they are somewhat uncharted territory means they may not receive the legal recognition that more traditional entities might enjoy. The result is increased scrutiny from governing bodies such as the SEC.

For this reason, sound governance practices are necessary when creating a DAO. Drawing on traditional models and adapting them to a decentralized entity can add legitimacy and stability to your organization while potentially decreasing liability.

1. Determine Your Purpose

As the next step from our current iteration of the world wide web, Web 3.0 promises to be a decentralized alternative to the corporate giants that currently control most of the world’s data. The possibilities it offers to users reach far beyond simple financial matters, though those certainly exist—and they’re getting the attention of both investors and lawmakers.

Investing in Web 3.0 is possible through various avenues, but it’s important to know the implications of this technology, including in terms of its legal landscape.

Web 3.0 Investing Prospects

A surge in copyright-related issues has shaken the NFT world. Because of this, it’s more important than ever to seriously consider IP matters when minting non-fungible tokens with underlying artistic assets. In this article, we’ll take a look at how IP law relates to NFTs and what creators can do to protect themselves.

IP Laws and NFTs

One current issue is the fiasco surrounding Spice DAO, which sought to create an animated series based on the original manuscript of the movie Dune, claiming that their purchase of that manuscript at an auction gave them rights to reproduce the content. However, that was not the case, and they now face a great deal of public mockery due to their three million dollar mistake.
Artists have been appropriating content from outside sources for centuries, but when it comes to NFTs, it may be a bit problematic. Appropriation art has garnered the attention of large companies such as Hermès of Paris, Inc., which is currently pursuing legal action against artist Mason Rothschild for appropriating their BIRKIN brand in his work. Other companies such as Nike are following suit with their own legal complaints.

But what is appropriation art, and when is it considered legal? Furthermore, how might the legal landscape surrounding this type of art look when it comes to NFTs? We’ll explore these questions in this article.

What Is Appropriation Art?

Contracts between employers and employees are standard procedure for most businesses. In fact, they’re vital to making sure employees know their responsibilities while also holding employers to their legal obligations. In the event of a dispute, the employment contract becomes a point of reference for both parties moving forward.

Because of this, it’s important to make sure your employment contracts cover the important details of your relationship with your personnel. In this article, we’ll discuss some of the key items you need to include in an employment agreement.

Important Terms to Include in an Employment Contract

Warehouses are among the more dangerous places to work. While-best-in-class facilities have plenty of safeguards in place, not all warehouses measure up to the same standard, and injuries occur on a regular basis.

According to the U.S. Bureau of Labor Statistics, 4.8% of full-time workers in the warehousing industry were injured in 2019, making it just under a one-in-twenty chance of sustaining an injury on the job. In this article, we’ll explore the causes and nature of these injuries.

Common Causes of Warehouse Accidents

Illinois workers’ compensation differs from personal injury in a number of ways, one of which being the fact that it is a no-fault system. In this article, we’ll explore exactly what that means for Illinois workers.

Fault and Illinois Workers’ Compensation

For workers who are injured on the job, there is no need to prove fault in order to receive workers’ compensation benefits. This means that even if the employer isn’t at fault for injuries sustained on the job, they are still required to pay for them. There is no need to prove that the employer was negligent. The injury simply needs to have arisen in the course of fulfilling employment duties.

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