It’s based on the Creative Commons framework.
at making a standardized NFT license, but so far, none have seen the kind of success Creative Commons has in the non-crypto world. And a16z, which has invested a huge amount in the crypto ecosystem, has a vested interest in solving the problem., which lets anybody remix or redistribute a piece of art. Beyond that, there are five other categories. “Exclusive Commercial Rights” gives the buyer an exclusive right to use the art as they see fit.
Beyond that, there are also two “Personal Use” licenses, which let people copy and display art but not use it commercially. One of these includes the hate speech agreement; the other doesn’t. The licenses also take on the question of sublicensing: basically, how an NFT holder can authorize other people to use the art on something like a T-shirt or TV show and what happens to that contract if they sell the NFT. These licenses say that the subcontract is immediately terminated on a sale — so new buyers don’t get an NFT that’s already tied up in deals with other people.
The contract also specifies that copyrights only transfer if the NFT is legally sold — so stealing somebody’s token doesn’t give you all the rights associated with them. a16z frames the copyright licenses as a more “trustless” version of NFT ownership, which is right in some sense: it potentially offers more clarity over the tokens’ legal value rather than relying on handshake deals and vague promises.
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