Technology

Law Firm Tries To Get In On The NFT Hotness

For the first time ever, NFTs are coming to a law firm near you.

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Lawyers who have have been burying their heads in the sand regarding the questionable NFT — non-fungible token — trend, hoping it’d peter out before they had to figure it all out might not be able to avoid it for much longer. Because it turns out a law firm has decided to get in on the action.

The Bristol, United Kingdom law firm of Stephenson Law has created three unique NFT tokens that can be exchanged for legal advice. As reported by Legal Cheek:

The firm says the starting prices will be the cryptocurrency equivalent of between £250 and £300, “and will afford the buyer the right to redeem their NFT for one hour of legal advice on the subjects of financial services regulation, blockchain, and NFTs, along with the strategy, compliance, governance, and documentation necessary of such a new-fangled technology”.

Additionally, one of the NFTs will provide the buyer with “one-on-one access” with the firm’s founder, Alice Stephenson.

If this seems appealing to you in any way, the tokens will be auctioned in two weeks on OpenSeas, a marketplace for “rare digital items and crypto collectibles.”

I know I’m not hip to crypto ways, but it seems like all this does is add a middle-person to the acquisition of legal services. Like… why buy an NFT for legal services when you could just exchange the money you’re spending on the NFT directly for the legal services? To me, this is the entire problem with NFTs. I mean, I surmise the answer is: something, something, money laundering, but come on you guys, this seems convoluted.

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