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How do NFTs work with copyright laws? Does owning an NFT grant you rights and how does that work with copyright law?
by adrr 4y ago
How do NFTs work with copyright laws? Does owning an NFT grant you rights and how does that work with copyright law?
- hnthrow1010 4y agoThe short answers are: they don't, no, and it doesn't. Some NFTs do have a separate legal document saying you get a copyright license (or maybe even the copyright) if you "own" the NFT, but this is not required, and is entirely separate from the NFT. The author could very easily mint multiple NFTs of the same thing or just sell more licenses of the same thing on the side; if you look into the fine print of any NFT marketplace they will say straight out that you are not actually getting any exclusive ownership of anything unless the seller explicitly says so in separate legal terms. And even then, it usually is on the buyer to do any due diligence to make sure that the copyright actually belongs to them and the artwork isn't ripped off.
- breakfastduck 4y agoNo, it does not because the NFT is a receipt. You are literally buying a receipt for your purchase of... a receipt.
- D13Fd 4y agoI expect NFTs are most analogous to owning a copy of a work, not the copyright. So you pay $330k and you get rights equivalent to prints of a piece of art. This may come with an implied right to publicly display the art, or may not, and that right may be limited in some ways. And, like a print, you can keep and treasure your NFT or re-sell it. But you don’t own the copyright and can’t make more prints unless there was a separate agreement to that effect.