Singapore High Court judge rules that NFTs can be considered a form of ownership

[sumaiyakhatun26]

The judge made the ruling after granting an injunction to block the sale of Bored App NFTs in May.
The Singapore High Court ruled that NFTs can be considered a form of ownership.

On October 21, 2022, Judge Lee Siew Kin established that NFTs and digital assets meet certain legal requirements, such as being distinguishable from other assets of the same type or other assets, and having an owner identifiable by third parties.

The ruling came after the Singapore High Court issued an injunction to prevent the sale and taiwan rcs data transfer of ownership of the Bored App number on May 13, 2022. 2162 was previously owned by Singaporean Janesh Rajkumar.

NFT property
According to court records, Janesh Rajkumar is trying to regain possession of the NFT, which was used as collateral for a loan from an anonymous NFT collector named “ChefPier,” who remains absent and irrelevant in court documents.