IP Rights in Popular NFT Collections

While the world is just getting to know what NFT is, a topic that is talked about behind the scenes concerns us all; “IP rights !”

Owning and/or keeping an NFT in your wallet may not give you full rights to that NFT.

“How so?!?”

We are all walking advertising spaces of brands, iPhone users are native Apple advertising boxes, but we do not make any income from it.

Web 3.0 opposes this. If you are part of a brand/community, you should generate income from it.

Namely; The IP rights of the NFT you have are determined by the collection creators. I have compiled for you the 3 basic rights of ownership used here.

1- Full IP Rights — Bored Ape Yacht Club

In such collections, IP rights are transferred to NFT owners. You can open a shop, develop a brand, or give the usage rights to a movie company — Coinbase/BAYC movie — of this collectible that belongs to you. Of course, this may sound liberating. However, it is an approach that has important criticisms about the protection of brand culture. Misuse of the product can become a phenomenon that will damage the entire collection.

2- IP Rights on Creator — Doodles

These collection creators can make decisions on behalf of the community and make agreements with world brands on behalf of the collection in order to preserve and sustain the brand culture. Owners of collectibles get passive income from here. There are those who strongly oppose this approach, which makes it easier to make dynamic decisions and not harm the brand phenomenon, on the grounds that it is against decentralization.

3- Public IP Rights — Nounsdao / NFT Mfers

In this approach, which is considered the closest to our utopia, Web 3.0, all IP rights of the collection belong to all. Mfers collection’s motto is “We’re all Mfers”. It is a common opinion that every work to be done by referring/using this collection is for the benefit of this collection.