Galaxy Digital Report Highlights NFT Copyright Concerns – NFT Plaza
A common benefit touted for NFTs is the ability to transfer ownership of the property being sold. But according to a report by Galaxy Digital, this facility is actually being used far less than we might imagine.
In a report analyzing copyright and ownership rights attached to major projects including Bored Ape Club and World of Women, Galaxy Digital found that only one of the top 25 NFT collections offered anything close to intellectual property (IP) ownership for asset holders.
No ownership?
The report concludes that most NFT projects do not actually allow users to own the IP associated with them. For a long time, this was seen as one of the advantages of buying an NFT from a top collection because it would represent an investment in its intellectual property. As a result, several NFT holders have certainly used the IP, launched things like restaurants, and comedian Seth Green has even said his own Bored Ape will be featured in an upcoming TV show.
But Galaxy Digital said in its report that perhaps some other deals have been negotiated by those who have commercialized their NFTs.
“It’s hard to imagine that Seth Green and his production studio didn’t strike a separate deal with Yuga,” the report said, citing Yuga Labs, the parent company of the Bored Ape collection.
Read the full report >> here
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*All investment/financial opinions published by NFT Plaza are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should do thorough research on any product before making any type of investment.
Tokoni Ooty has written extensively on blockchain and cryptocurrency over the years. His work has appeared on sites such as BTCmanager and Blockchain Reporter. He has a degree in Corporate Communication.
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