Venture capital firm, A16z, also known as Andreessen Horowitz, has drafted the “Can’t Be Evil” license for NFTs based on the Creative Commons license. CC0, “no copyright reserved” was designed into the Creative Commons license act that allows the general public to make use of certain works without restrictions.
In the NFT space, projects fall into these categories: those that implement the CC0 license, those that modify the license, and those with no clearly written copyright rules. And this has brought about rifts between creators and collectors.
Owing to this, A16z assembled a group of legal professionals in the Web3 space to create a list of free licenses for NFTs.
Structure and benefits of the CC0-inspired licenses
Here are some of the characteristics of the list of six designed NFT licenses by the legal team. Each is:
- Deployed On-chain on Arweave with smart contracts attached to each license;
- Created with clear and simple rules that describe creators’ and buyers’ rights;
- Designed to be inclusive where creators can choose from the six options
- Crafted as irrevocable agreements between creators and buyers so that buyers don’t suffer unreasonable changes by creators
Other characteristics of the six licenses include permissive modifications of NFTs, full transfer of license control to buyers, tracking for third-party usage, and traceability in the event of loss of NFT.
Implementing the “Can’t Be Evil” licenses will protect the intellectual properties of creators, give NFT holders specific rights when they buy collectibles, and “make NFT ecosystems more trustless”.
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