Judge Rules in Favor of Artist in Lawsuit Involving ‘First NFT Ever Created’

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U.S. Mag­is­trate Judge James Cott of the South­ern Dis­trict of New York on Fri­day dis­missed a law­suit involv­ing an NFT believed to be the first NFT ever cre­at­ed, find­ing that the plain­tiffs failed to allege an injury that would give it stand­ing to sue.

The suit involved dig­i­tal artist Kevin McCoy’s art­work Quan­tum. In 2014, McCoy cre­at­ed an NFT of Quan­tum on a blockchain called Name­coin, and sev­en years lat­er, McCoy and the auc­tion house Sotheby’s began mar­ket­ing McCoy’s NFT on the Ethereum blockchain.

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