CC0 What NFTs Are and Why You Need to Know Them – NFT News Today
The NFT market has had an IP problem for quite some time. Now, a new class of NFTs can help budding artists create, control and profit from their work.
Non-fungible tokens have helped artists earn millions over the past two years. Although the NFT boom is now over, thousands of artists are still creating innovative pieces, video game skins and other digital assets.
However, the NFT market has had an IP problem for quite some time. See our previous article on NFT IP issues.
To avoid stealing someone’s IP and getting sued, many NFT creators have resorted to creating “CC0” assets.
What are CC0 NFTs?
What does CC0 mean? Well, the term was inspired by the “Creative Commons Zero” licensing model, which allows creators to give up rights to their art. That means anyone can use the art for any purpose without the creator’s permission or attribution.
CC0 NFTs work the same way. The creator of the NFT can waive their copyright, and anyone can use the NFT without attributing or paying the creator. The concept is similar to the open source movement we’ve seen in the tech market.
As you probably know, Linux has become the most popular server operating system in the world because it is free and open source. It has a market cap of around $16 billion and powers 85% of all smartphones.
So, why would an artist want to do this? Here are some reasons.
How CC0 NFTs can help NFT artists
Fear of violating someone’s copyright has led to a lot of self-censorship in the NFT community. Many artists have avoided creating anything that could be considered copyrighted material.
This has led to a lot of “safe” and generic NFTs, which are good but don’t really push the envelope.
CC0 NFTs can help artists feel free to create whatever they want without worrying about copyright infringement. Moreover, it can help new artists break into the scene, without having to worry about expensive legal fees.
Pros and cons of CC0 NFTs
Of course, everything has its pros and cons. For starters, CC0 NFTs could stimulate creativity in the NFT market, something that has been lacking in recent months.
This can help attract new artists to the scene and help existing artists feel more comfortable creating new pieces.
However, CC0 NFTs also have some potential downsides.
For example, it is possible that CC0 NFTs may be very low-quality or unoriginal works. Because anyone can create a CC0 NFT without worrying about copyright infringement
What’s more, it’s also possible that CC0 NFTs may devalue the work of NFT artists. After all, if someone can use an NFT without paying or attributing it to the creator, it’s not really that valuable, right?
The NFT community was horrified by the news of CC0 NFTs Some people think they’re a great way to encourage creativity, while others worry about the impact on the community.
Whether you follow CC0 NFTs or not, understanding your impact is important for your business strategy and community members to make informed decisions about how to proceed.
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