Singapore’s courts have ruled in favour of a man whose non-fungible token (NFT) was listed for sale without his permission. He had used it as collateral for a loan. Janesh Rajkumar had borrowed money from someone who goes by the screen name of “chefpierre” in the metaverse. They agreed that the digital artwork would be kept in escrow until the loan was repaid in full. But a refinancing agreement went south and “chefpierre” took the NFT for his own use. The courts have barred the sale and transfer of the NFT, even though the actual identity of “chefpierre” is unknown.
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