W&L Law’s Fairfield Publishes Article in the William and Mary Law Review Prof. Josh Fairfield published "Making Virtual Things."
Washington and Lee law professor Josh Fairfield has published an article in the William and Mary Law Review. The article, “Making Virtual Things,” explores the ways that people perceive and use virtual assets and related regulatory failures.
“Virtual things, like real-world things, have value because a community values them for a purpose. It therefore makes no sense to discount how and why people purchase virtual things in favor of regulation based on the misguided search for the technological essence of something. If a Bitcoin is used as money, it is money. If an NFT is valued, bought, and sold as a thing within a community of collectors, the law ought to and inevitably will support that characterization,” Fairfield writes.
The article is available online at the William and Mary Law Review website.
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