{"id":12900,"date":"2022-08-23T14:39:56","date_gmt":"2022-08-23T14:39:56","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/08\/23\/nft-copyright-is-still-a-total-mess-says-report\/"},"modified":"2022-08-23T14:39:57","modified_gmt":"2022-08-23T14:39:57","slug":"nft-copyright-is-still-a-total-mess-says-report","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/08\/23\/nft-copyright-is-still-a-total-mess-says-report\/","title":{"rendered":"NFT copyright is still a total mess, says report"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/8\/22\/23316723\/nft-copyright-galaxy-report-crypto-ip-rights-licensing-ownership<\/a>
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Non-fungible tokens or NFTs are sold on the promise of \u201cownership,\u201d but a new review suggests many creators and buyers still have no idea what that means. A review from blockchain investment company Galaxy Digital finds that only one of the 25 most valuable NFT projects even tries to give buyers direct intellectual property rights to the underlying art, and many offer confusing or nebulous licenses despite recent efforts to clean up the space.<\/p>\n

The Galaxy report analyzes<\/a> the terms of major NFT projects, including the Yuga Labs project Bored Ape Yacht Club (BAYC), Gary Vaynerchuk\u2019s VeeFriends<\/a>, and World of Women as well as the \u201cmetaverse\u201d social platforms Decentraland and Sandbox. It concludes that \u201cthe vast majority of NFTs convey zero intellectual property ownership of their underlying content,\u201d and many of their operators (including Yuga Labs) \u201cappear to have misled NFT purchasers\u201d about the extent of their rights. Some projects have tried to prevent confusion by adopting the widely known Creative Commons license, but in the process, some have effectively untethered IP rights from the NFT \u2014 making it \u201cimpossible\u201d for NFT holders to defend exclusive rights to the art.<\/p>\n

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