What is A cc0 NFT?
So, you are wondering what is a cc0 NFT? Well, cc0 NFTs have been hugely popular of late, the open and transparent aspect of the branding favored by Decentralization Maxis. Projects like CrypToadz, Blitmaps, and Mfers all feature “Creative Commons Zero” artwork. But what does cc0 mean? And how does this relate to NFT IP commercial rights?
Generally, people think that because you mint an NFT, all you get is the figure. However, some NFTs are not so simple. Some offer licenses to certain intellectual property (IP) rights, while others grant holders nothing.
Obviously, knowing your rights with NFTs is important. So let’s start with the most popular rights behind NFTs, cc0 rights and their meaning in the NFT scene.
What does cc0 mean?
The term cc0 stands for “Creative Commons Zero”. Basically, this means that the IP (intellectual property rights) owners relinquish all copyright and public domain rights. In other words, absolutely anyone can use cc0 items for almost anything they want. Cc0 rights allow anyone to use the IP to create their own content.
So what is a cc0 NFT?
A cc0 NFT is a piece of digital content to which IP rights have been relinquished In short, anyone can reproduce a cc0 NFT. Even non-holders can create commercial products from cc0 NFTs without any legal repercussions.
Furthermore, with a cc0 NFT, you don’t have to attribute the original creator if you want to use it.
For example, top project Goblintown grants full cc0 rights to their artwork.
Cc0 vs Commercial IP Rights: Which is Best?
Of course, cc0 NFTs have advantages and disadvantages. However, most of the benefits can also be negative. In essence, it all depends on your perspective on the matter.
When you own a cc0 NFT, you can commercialize that artwork in any way you want You don’t need to ask permission from the project owner or artist to use NFT.
On the other hand, someone else can use it. The IP is in the public domain, meaning that anyone who right-clicks-saved your NFT has as much right to it as you do. Yes, even a complete stranger to the collection can use its branding for their own company.
After that, project owners of cc0 NFTs have no control over their branding. This is because literally, anyone can use similes in any way, shape or form.
By comparison, full commercial IP rights only allow the holder to make similar uses of that NFT. This opens up a whole range of options for licensing IP to others. A great example of this is the Bored Ape Yacht Club. Basically, BAYC offers commercial rights, with many apes licensing their NFT IP for music videos, films, TV shows and fashion. This is part of the freedom that comes with owning full IP rights.
Examples of successful cc0 NFTs
Goblintown
Some say it’s ugly, some praise it for its uniqueness. Either way, Goblintown is making waves among NFT collectors. 10K avatar NFTs are all cc0, thereby allowing holders to commercialize in any way. In this case, it might be worth having a Goblintown NFT registered under a Creative Commons license. As for the design, this collectible definitely stands out.
In fact, the controversial project redefined the concept of beauty in the NFT sphere. The collection floor price is 1.9 ETH with many NFT whales approving the project. Surprisingly, Steve Aoki hosted a Goblintown NFT NYC party this summer.
loot
No avatars, no pictures and no stats – just white text on a black background Simple as it may seem, Loot has redefined community interaction with its NFTs. Basically, each of the 8K NFTs is a “loot bag” filled with guards.
Since these digital assets are cc0, anyone can use them for their own projects. From P2E games to innovative rare explorer tools, this project has fueled the creativity of developers. Today, the floor price of a loot NFT is 1.03 ETH – an impressive feat considering that mining was free at launch. If you want to know all about the complex loot ecosystem, check out our post here.
Mfers
Some projects represent good meme culture from Mfers. This hand-drawn project consists of 10K Avatar-style NFTs by none other than Sartoshi. In short, many NFT community members believe Sartoshi is a top meme creator on NFT Twitter.
Simple as it may seem, digital stickmen took over the market immediately after launch. Today, you can buy a Mfers NFT at a floor price of 1.18 ETH. However, some rare pieces selling for 11 ETH, have made this cc0 project popular.
noun: the most successful cc0 project
Looking for a cc0 NFT project featuring a Super Bowl commercial? Then Nouns is the answer. Be careful, though, because these pixelated avatars have a floor price only 99 ETH. In fact, it is undoubtedly one of the most successful cc0 projects to date.
Unlike most NFT collections, Nouns doesn’t have many NFTs. Instead, NounsDAO auctions a new digital asset every day; The team plans to continue this process “in perpetuity”. Therefore, NounsDAO (co-governed by all NFT holders) is one of the biggest treasures in the NFT sphere.
Is it cc0 summer?
The short answer is “maybe”. This year, we have seen more and more cc0 NFT projects skyrocket in popularity. Collectors, game developers and artists all enjoy the freedom to use their NFTs as they wish.
A quick look at the most popular projects of the summer also proves this fact. For example, Goblintown – a project with no roadmap or utility – sold over $130K from Free Mint. Their Twitter community boasts over 124.5K followers who support the quirky collection. Even in a bear market, this new project is thriving impressively!
Is there any project to switch to cc0 NFTs?
This successful achievement has inspired other NFT manufacturers to migrate to cc0 as well. For example, prolific digital artist XCOPY has announced that all of its NFTs will become cc0. As the holders receive the IP rights for each piece, this means that XCOPY’s artworks will inspire other emerging artists and projects.
However, no per The turning project in cc0 has been well received. One of the more recent examples is Moonbirds. This week, the popular project canceled its NFT trading rights for cc0. Unfortunately, the team immediately received backlash from members of its own community.
Accordingly, the move to cc0 goes against the initial promise to Moonbirds minters. Nevertheless, their decision is legal despite community disapproval.
In conclusion, we will probably see more cc0 NFT projects in the near future. The new trend facilitates NFT distribution by giving holders the ability to use digital assets as they wish. Some of the most successful projects on the market offer cc0 collectibles, which has convinced top artists to embrace the change as well.
All investment/financial opinions published by NFTevening.com are not recommendations.
This article is educational material.
As always, do your own research before making any type of investment.
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