NPunks / OtherVerse hopes to put out more content and create things in the future that holders can all be proud of and have outlined many of our intentions as such. However, the landscape around NFTs and various other things we are hoping to do is shifting and legally gray in many ways.
When an individual purchases an NPunks NFT, they agree that their purchase of the artwork is all they are guaranteed to receive in exchange for funds. We make absolutely no promise or guarantee that these NFTs will be worth anything more than what the market deem the art to be worth.
In theory, NFTs can represent almost any real or intangible property, including artwork, music, videos, collectibles, trading cards, video game virtual items, or even real estate. In sum, an NFT is the digital version of a certificate of authenticity, embodied in the blockchain. NPunks holders are responsible for any tax liability which may arise from reselling their NPunks.
If you are a NFT creator, make sure you are not creating NFTs using someone else's copyrighted content. Likewise, if you the NFT holder, do not use your NFT in a way that may violate the terms.