Copyrights
What are CC0 NFTs, and why are they important?
As the Web3 world has largely promoted transparency and openness with code, NFT creators and teams are also opting for the same with art. However, that is just the beginning of the journey, and these nonfungible token creators and communities must realize that. CC0 can sometimes be portrayed as a logical conclusion where the NFT creators hand over the process of building on their creation to their community and beyond. Some NFT collections have had several derivative projects promoting the culture of the NFT almost as brand extensions. However, declaring a project as CC0 is just the beginning. NFT project teams and creators who take the CC0 route must actively promote the use of the brand and onboard other creators and projects to build brand extensions to their NFT collections. ...
NFTs democratize music industry and redistribute song rights
The music industry continues to find inventive ways to integrate decentralized technology into new releases to benefit both artists and their fans. Electronic dance music (EDM) artist R3HAB and blockchain-based music community anotherblock released a single on Aug. 19 with the idea of “democratizing music rights.” The nonfungible token (NFT) included in the drop allows holders to earn royalties based on streaming popularity. The single, “Weekend on a Tuesday,” debuted bundled with an exclusive NFT. Each of the 250 NFTs available entitles the holder to a 0.02% share in the streaming revenue. Anotherblock’s platform provides a value tracking tool so holders can estimate payouts and overall value. Many artists have been using digital assets as a way to connect with their fan base t...
GameStop ‘Falling Man’ NFT saga shows people’s power at its finest
A recent nonfungible token (NFT) listing on Gamestop’s marketplace became the center of controversy in the NFT world. The listing received heavy backlash from the community prompting the marketplace to take action within a day, showing how a community can come together to reverse the wrong. The NFT in question, titled “Falling Man,” showed a man in a space suit falling downwards. The NFT in question had quite a resemblance to the infamous 9/11 photo of a man falling to his death that since has become a defining moment of the deadly attacks. Many believed the NFT was mimicking the 9/11 victim and also infringed on the copyright of the image taken by original photojournalist Richard Drew. In another discussion on the meme stock subreddit GME_Meltdown, a user pointed out that the figure in th...
Are expiring copyrights the next goldmine for NFTs?
Although non-fungible tokens (NFTs) are most commonly known in the form of digital art, they exist in many other forms and represent much more than just art. In the creative industry, NFTs have been used by musicians such as Kings of Leon to release their latest album. In the sports industry, NFTs are created to record the highlights of major sporting events such as the NBA. In the consumer product industry, Nike, Gucci and many others are selling their digital branded products in the form of NFTs. A lot more real-world applications of NFTs are still to be explored and one of them is the digital publishing industry. The game-changing implications of publishing and promoting books with NFTs have already been discussed extensively by many. For example, the Alliance of Independent Autho...
