Thread
1/ My key takeaways from the second class of the @unicmetaverse META-511 course on Copyright and Provenance in NFTs.
A lot of valuable insights from @eliana_esq and @punk6529. It took me some time to digest all the information and try and make it simple.
A lot of valuable insights from @eliana_esq and @punk6529. It took me some time to digest all the information and try and make it simple.
2/ These are the things I found the most interesting, but you should definitely listen to the whole presentation too. Here I will cover:
✔️ Intro to Trademarks
✔️ Intro to Copyright
✔️ Copyrights in NFTs
✔️ Transfer of rights
✔️ CC0
✔️ Intro to Trademarks
✔️ Intro to Copyright
✔️ Copyrights in NFTs
✔️ Transfer of rights
✔️ CC0
3/ Trademarks
A word, phrase, symbol, design, or combination that identifies and distinguishes the source of the goods of one party from those ofothers.
Large NFT projects often register their names as a trademark, e.g. Fidenza, and CryptoPunks.
A word, phrase, symbol, design, or combination that identifies and distinguishes the source of the goods of one party from those ofothers.
Large NFT projects often register their names as a trademark, e.g. Fidenza, and CryptoPunks.
4/ In 2022 there was an influx of trademark applications for NFT collections. Most of them fall under classes 9 and 42. These numbers represent categories - class 9 stands for downloadable goods associated with the underlying asset.
5/ You don't need to register your trademark, but it's highly encouraged. Meaning that once you start using something in commerce, you'll have a trademark by common law.
6/ But having a registered trademark is beneficial because then you have the ability to enforce your trademark rights. Your rights are limited under the common law if you don't have a registration.
7/ Copyright
Protects original works and subsites from the time the work is created in a fixed, tangible medium and immediately becomes the property of the author who created the work. Only the author can rightfully claim copyright.
Protects original works and subsites from the time the work is created in a fixed, tangible medium and immediately becomes the property of the author who created the work. Only the author can rightfully claim copyright.
8/ Original works of authorship fixed in any tangible medium of expression are protected by copyright.
6 basic rights you get with copyright:
• Reproduce
• Prepare derivative works
• Distribute
• Perform publicly
• Display publicly
• Transmit
6 basic rights you get with copyright:
• Reproduce
• Prepare derivative works
• Distribute
• Perform publicly
• Display publicly
• Transmit
9/ Two key requirements to claim copyright are originality and fixation (creation is tangible and has sufficient permanence).
Originality means that the work needs to be independently created by a "person".
Originality means that the work needs to be independently created by a "person".
10/ If a monkey took a selfie with your phone, you wouldn't be able to claim a copyright on that photo. It belongs to the 🐒
11/ This is where artwork created using AI can be questioned. If you are creating generative art with the help of an AI-powered tool and will want to claim a copyright on your work, you will most likely be questioned about how did you use the tool.
12/ There was an interesting case when a creator of generative art got denied a copyright claim over his work. He named the algorithm ("Creative Machine") that he coded as the "author" of the artwork, and he named himself as the "owner".
13/ The Copyright Office denied registration, stating copyright only gives protection to "the fruits of intellectual labour" that "are found in the creative powers of the human mind".
For people applying for copyright - choose your words wisely.
For people applying for copyright - choose your words wisely.
14/ Not having registration of your copyright will limit your ability to enforce your rights - same as with a trademark.
There is no such thing as international copyright law. You would have to register your work in different jurisdictions.
There is no such thing as international copyright law. You would have to register your work in different jurisdictions.
15/ Transfer of rights:
• Copyright - must be in writing and signed by the owner of rights conveyed.
• Exclusive License - must be in writing and signed by the owner of rights conveyed.
• Non- Exclusive License - can be oral or implied.
• Copyright - must be in writing and signed by the owner of rights conveyed.
• Exclusive License - must be in writing and signed by the owner of rights conveyed.
• Non- Exclusive License - can be oral or implied.
16/ Copyrights in NFTs
NFTs = Token + License
Purchaser owns the token but typically only receives a license to the underlying digital asset referenced in the token metadata
The copyright owner (issuer) generally retains rights in the underlying work.
NFTs = Token + License
Purchaser owns the token but typically only receives a license to the underlying digital asset referenced in the token metadata
The copyright owner (issuer) generally retains rights in the underlying work.
17/ The default NFT case is that you can use NFT for your personal use.
There are three common types of licensing for NFTs:
• Personal use only (e.g. Invisible Friends)
• Commercial rights (e.g. CryptoPunks, BAYC)
• CC0 (e.g. mfers, Moonbirds)
There are three common types of licensing for NFTs:
• Personal use only (e.g. Invisible Friends)
• Commercial rights (e.g. CryptoPunks, BAYC)
• CC0 (e.g. mfers, Moonbirds)
18/ In terms of license transferring, some things have not been tested yet:
#1 If you are a secondary buyer, are you bound by the license and how? Technically, if you didn't mint, you did not accept the license.
#1 If you are a secondary buyer, are you bound by the license and how? Technically, if you didn't mint, you did not accept the license.
19/ #2 If someone is trying to transfer a copyright or an exclusive license, even if you have terms and conditions, does it qualify as a written agreement?
20/ #3 The marketplace terms (like Opensea) tend to be generic. When you click accept on a transfer on Opensea, you are accepting the generic terms, not the collection-specific terms.
These things could be solved technologically if the licenses were on chain.
These things could be solved technologically if the licenses were on chain.
21/ CC0
In the CC0 approach, the copyright is placed in the public domain by the creator so that anyone can use the art for any purpose.
Why would a creator choose such a license?
In the CC0 approach, the copyright is placed in the public domain by the creator so that anyone can use the art for any purpose.
Why would a creator choose such a license?
22/ There are a few good reasons for it:
• To leverage the virality/ network effects of the social media
• To avoid having to deal with perceived unenforceable enforcement of IP rights online
• To leverage the virality/ network effects of the social media
• To avoid having to deal with perceived unenforceable enforcement of IP rights online
23/
• To avoid centralization through licensing contracts
• To avoid potentially unclear issues relating to the enforceability of exclusive licenses or copyright transfers via token sales
• To avoid centralization through licensing contracts
• To avoid potentially unclear issues relating to the enforceability of exclusive licenses or copyright transfers via token sales
24/ The idea behind this approach is that provenance (the token) provides authenticity and a level of importance that can't be damaged by other people using the art.
25/ I didn't see value in having an NFT art in the public domain, but this discussion made me think otherwise.
There is not one licence, that will suit all projects. We can't all go off the same template.
There is not one licence, that will suit all projects. We can't all go off the same template.
26/ As a creator, even if you are starting with a template, make sure you read it first and understand, what rights are you giving away.
You may even want to consult a lawyer. Or just DM @eliana_esq.
You may even want to consult a lawyer. Or just DM @eliana_esq.
Mentions
See All
6529 @punk6529
·
Oct 20, 2022
good thread