It’s hard to separate copyright from asset ownership in the NFT domain. The license agreements that grant the right to copy, display, and resell NFTs have already been explained on nftnewstoday. The Creative Commons 0 (CC0) license is used by some NFT projects nowadays.
An organization called Creative Commons gives licenses for granting copyrights to creative and academic works. CC0 is one type of Creative Commons license.
The Creative Commons 0 license allows creators to waive all copyrights and related rights for their works. An NFT released under CC0 is essentially public intellectual property (IP) because it has no rights reserved or copyrights.
Loot, Nouns, Cryptoadz, Goblintown, Chainrunners, and Terrarium Club are examples of NFT projects with CC0 licenses.
It is legal to use NFTs from these projects for any purpose, including commercial ones, without attribution to the original creators. The current owner does not have exclusive rights to copy or modify a CC0 NFT for commercial or noncommercial use. The work is public domain.
Join the Open-Source Movement
How could NFT creators justify giving up their rights?
A CC0 NFT reinforces web3’s culture of open and permissionless collaboration. XCopy uses a CC0 License to license its “right-click save as” project. An NFT is more than a picture because anyone can create derivative work.
Original NFTs become more Valuable
Original art remains culturally relevant and receives public attention the longer derivatives are created.
Numerous spin-offs and derivatives have been created since the launch of the well-known CC0 NFT project Nouns. A PvE game based on Nouns NFTs is Noundless. The 3D Nouns project creates 3D avatars based on Nouns NFTs.
The public domain also includes Noundless and 3D Nouns. They can therefore be derived from others as well. This applies to all projects derived from nouns. The NFT community grows continuously as a result of every derivative.
CC0 NFTs can earn ongoing royalties from all derivative projects, including secondary sales. Therefore, the creators of the original artwork can invest additional income into the project.
Creativity in new forms
Creators of NFT can express themselves in new ways with the CC0 license.
3D Nouns, for example, allow its community to customize NFT avatars by collaborating with other NFT projects. Additionally, NFTs with AR capabilities can utilize Snapchat filters.
With Nounsvision, owners of Nouns NFTs can burn them and receive a pair of physical luxury sunglasses. A faux leather carrying case and a polishing cloth are included with the physical counterpart after the NFT has been burned.
Decentralized Co-Creation Pays off
Blockchain and NFT technology make certain financial benefits possible, such as issuing native currencies or integrating DeFi solutions, like yield farming, with artworks. Because of this, NFTs make sense for art projects with CC0 licenses.
The possibility of integrating incentive models into all of these derivative projects. For example, every NFT holder earns daily rewards in the native currency of Noundless.
There are many ways to combine DeFi and NFTs so that every participant in the ecosystem can benefit.