a16z releases free licensing system to help digital collections establish industry standard

Ownership of NFTs has become a key issue and has sparked many other legal events and copyright crises.

VC firm Andreessen Horowitz (a16z) has come up with a seemingly solid solution, offering creators a free NFT licensing system.

That’s according to a blog post Wednesday by the firm’s general counsel Miles Jennings and partner Chris Dixon.

The article says the company is ready to enable free NFT licensing, offering six lawyer-vetted licenses that creators can use to take ownership of their artwork.

The main goal of the move is to unlock the “economic potential” of the digital art industry.

“Can’t Be Evil” License

A license set to “Can’t Be Evil” will help NFT creators manage their own digital works or tokens . At the same time, the license also guarantees the user the right to protect or transfer intellectual property (IP).

The article goes on to say that the license for “Can’t Be Evil” clearly lists the buyer’s rights with respect to the NFT artwork.

Including whether these rights are exclusive, only the buyer can choose how to use their NFT artwork, and the creator waives all licensing rights.

Whether to include commercial rights, the right to allow buyers to use their NFTs for commercial purposes.

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And whether buyers are allowed to modify, adapt and create derivatives of the artwork they purchased, such as changing the appearance of the artwork or using it in a different field.

NFT licensing meets government requirements

The company engaged lawyers before designing the license to make its substructure meet regulatory requirements, while the license also included a baseline of irrevocable and enforceable rights for the creator.

The company’s move is aimed at supporting NFT creators and the community in harnessing the potential of the NFT industry to generate economic profits , and it will give creators “a clear understanding of the intellectual property framework in which they can operate . ”

The authors state that we want to democratize access to high-quality licenses by making licenses easy (and free) to incorporate, to encourage standardization across the web3 industry.

Increased permissioned adoption can bring incredible benefits to NFT creators, owners, and the entire ecosystem.

Beyond that, the company representative suggested, inexorable growth and innovation will change licensing requirements, potentially making it unsuitable for some projects.

The company sees the move as the first step in launching a licensing ecosystem, and will continue to pursue its policy of “encouraging standardization as space grows.”

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CC is a non-profit organization that provides copyright licenses to content authors to share their work in the public domain.

Its CC0 agreement states that the copyright of the work is waived to the maximum extent , and anyone can unconditionally use the work for commercial/non-commercial use without identifying the author and source .

After some NFT issuers chose CC0, a16z has accelerated the introduction of the NFT free license framework.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/a16z-releases-free-licensing-system-to-help-digital-collections-establish-industry-standard/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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