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Mark Cuban-Backed Nifty's Hires Law Pro as IP Questions Dog NFT Market
As chief legal officer, Olta Andoni will be navigating uncharted waters, given the novel and complex issues posed by NFTs.
Nifty's Inc., a fledgling social media platform focused on the burgeoning non-fungible token (NFT) market, has hired a lawyer conversant in both financial technology and intellectual property law.
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Olta Andoni has joined the Miami-based startup as chief legal officer, the company announced Tuesday. She is employee No. 5 at Nifty's, which last month said it had raised pre-seed funding from Dallas Mavericks owner Mark Cuban, ConsenSys founder Joseph Lubin and a pseudonymous NFT investor known as 0xb1, along with a host of venture capital firms. (The size of the round was not disclosed.)
In her new role, Andoni will be navigating uncharted waters, given the novel and complex legal questions posed by NFTs in areas such as consumer protection, sanctions, money laundering, copyright and IP, securities, tax and counterfeiting law.
Roughly the digital equivalent of an autographed baseball card – valued for its uniqueness despite an abundance of similar items – these blockchain collectibles have been selling at auctions for as much as eight figures in dollar terms this year, propelled by the star power of artists and celebrities.
Andoni practiced IP law in the U.S. for six years, according to her LinkedIn bio. She then headed the blockchain practice at the Ziliak Law firm in the Chicago area for a year and for the last year worked as a fintech and IP attorney at Zlatkin Wong LLP.
“Olta has been a visible advocate for developing the NFT and broader blockchain universe in a responsible and durable way,” said Jeff Marsilio, CEO and co-founder of Nifty’s, in a statement.
The company said it aims to launch its platform, a sort of hub for NFT collectors and their communities, this spring.
Read more:
How Bananas and Mortgages Can Explain the NFT Craze
Marc Hochstein
As Deputy Editor-in-Chief for Features, Opinion, Ethics and Standards, Marc oversaw CoinDesk's long-form content, set editorial policies and acted as the ombudsman for our industry-leading newsroom. He also spearheaded our nascent coverage of prediction markets and helped compile The Node, our daily email newsletter rounding up the biggest stories in crypto.
From November 2022 to June 2024 Marc was the Executive Editor of Consensus, CoinDesk's flagship annual event. He joined CoinDesk in 2017 as a managing editor and has steadily added responsibilities over the years.
Marc is a veteran journalist with more than 25 years' experience, including 17 years at the trade publication American Banker, the last three as editor-in-chief, where he was responsible for some of the earliest mainstream news coverage of cryptocurrency and blockchain technology.
DISCLOSURE: Marc holds BTC above CoinDesk's disclosure threshold of $1,000; marginal amounts of ETH, SOL, XMR, ZEC, MATIC and EGIRL; an Urbit planet (~fodrex-malmev); two ENS domain names (MarcHochstein.eth and MarcusHNYC.eth); and NFTs from the Oekaki (pictured), Lil Skribblers, SSRWives, and Gwar collections.
