About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

2023 BTLJ Comment. 1 (2023)

handle is hein.journals/btljc2023 and id is 1 raw text is: FUZZY TOKENS: THINKING CAREFULLY ABOUT TECHNICAL CLASSIFICATION VERSUS LEGAL CLASSIFICATION OF CRYPTOASSETS David J. Kappost, Lee A. Schneidertt, Daniel M. Barabander, & Callum A.F. Sproule TABLE OF CONTENTS I. IN T R O D U CT IO N .................................................................................1 II. CASE STUDIES AND ANALYSIS.................................................... 3 A . SH IBA IN U T OKEN (SH IB).........................................................................3 1. Analysis of the SHIB smart contract and ERC-20 .............................3 B . D O O D L E S ..........................................................................................................7 1. Analysis of the Doodles smart contract and ERC-721..............................9 C. ADIDAS ORIGINALS INTO THE METAVERSE AND ERC-1155...............12 1. Background on the A didas Project...........................................................12 2. Technical analysis of the Adidas Project smart contract ...........................14 III. APPLYING A SENSIBLE CLASSIFICATION SYSTEM...................18 IV . C O N C LU SIO N .....................................................................................21 I. INTRODUCTION Popular discourse, when not lumping all cryptoassets together as a homogeneous asset class, has trended towards categorizing blockchain tokens into broad and ill-defined categories. We see this with discussion regarding whether one token or another is fungible versus non-fungible,' a security DOI: https://doi.org/10.15779/Z382J6854B 0 2023 David J. Kappos, Lee A. Schneider, Daniel M. Barabander, & Callum A.F. Sproule. t Partner, Cravath, Swaine & Moore LLP -f General Counsel, Ava Labs. Jt Associate, Cravath, Swaine & Moore LLP. $ Associate, Cravath, Swaine & Moore LLP. 1. Fungible vs nonfungible tokens: What is the difference?, CoINTELEGRAPH, https://cointelegraph.com/nonfungible-tokens-for-beginners/fungible-vs-nonfungible- tokens-what-is-the-difference.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most