Unchained How a16z’s New NFT Licenses Hope to Solve Rights Problems for Creators and Buyers - Ep. 391
Sep 2, 2022
Miles Jennings, General Counsel at a16z crypto, dives into the firm's innovative "can’t be evil" NFT licenses. He explains how these licenses tackle essential rights issues in the NFT space, offering clarity for creators and buyers. Jennings discusses the five key rights provided by these licenses and how they aim to curb hate speech concerns. He also outlines why past attempts at standardizing NFT licenses failed and shares optimism about the future success of these transformative measures.
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NFT Licensing Problem
- NFT projects often lack licenses, leaving buyers with only tokens, not artwork rights.
- This creates confusion about usage and commercialization, misaligning expectations with reality.
Creator Challenges
- Creators face disputes with token holders due to unclear rights, leading to lawsuits.
- Ambiguity fuels these disputes, hindering the NFT ecosystem's growth.
Copy, Display, Distribute Right
- The "copy, display, and distribute" right lets buyers showcase, copy, and share artwork.
- This fundamental right, often assumed, requires a license.