Is the platform the “seller” of an NFT traded on its platform?
Select jurisdiction
Germany
This largely depends on the mechanics and the contractual setup of the platform. In the
usual platform model as a marketplace, the operator of the platform is not the seller of the
NFTs. Instead, the operator of the platform just operates the marketplace that enables the
sellers of the NFTs to conclude contracts with the buyers of the NFTs. In this model, the
operator of the marketplace wants to stay out of the actual sale of the NFTs and is just
responsible for the marketplace services.
However, it is also possible to set up the platform in a different way where the operator of the
platform buys the NFTs from the creators and then sells the NFTs to the customers. In this
model, the operator of the platform is the seller of the NFTs.
Brazil
It depends, the platform can act as a mere intermediary between buyers and sellers, in
the case of marketplaces, or it can issue its own NFTs. In both cases, the legislation on
electronic commerce (Ecommerce) will be applied.
