The Singapore High Court prohibits the sale or transfer of a rare NFT

SINGAPORE – In a first, a Singaporean citizen has won a court order preventing him from selling or transferring a non-fungible token (NFT) he previously owned.

The injunction, issued by the Singapore High Court last Friday (13 May), is thought to be the first in Asia – and maybe the world – to protect a non-financial technology in a purely commercial dispute (NFT).

NFTs are decentralized digital ledger tokens based on blockchain technology. They may represent digital or physical underlying components including artwork, movies, and music.

According to documents provided by The Straits Times’ attorney, the High Court’s ruling maintains ...