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Ethereum NFT Developers Distribute Commercial Rights

A look at how artists embrace the public domain as Ethereum Moonbirds and the XCOPY artwork shift into CC0 licenses.

Ethereum NFT Developers Distribute Commercial Rights iBase Trading.
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A look at how artists embrace the public domain as Ethereum Moonbirds and the XCOPY artwork shift into CC0 licenses.

NFT Moonbirds has become one of 2022’s most successful initiatives, with trading volume exceeding $500 million in just a few months. As of this writing, it will cost you at least $29,000 in Ethereum to buy one. Until now, you had to own a Moonbird to use its imagery.

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It has been announced that Moonbirds and the recently released Oddities NFT collections will be licensed under the Creative Commons Zero (CC0) license.

As a practical matter, this implies that the artists have no rights to the artwork, and it is now in the public domain. Anyone can utilize Moonbirds or Oddities artwork and likenesses to develop and sell derivative ventures, goods, and apparel.

Digg Platform

On Twitter today, Proof co-founder Kevin Rose began by recalling his co-creation of the social platform Digg 2004, which he founded in 2003. He added that Digg’s innovative features were swiftly copied and improved upon by other sites.

According to Rose, a natural instinct is to defend what you’ve made. Nonetheless, Web3 presents an opportunity to re-examine everything from the ground up. A chance to say that we can win even if other people fail. It’s a chance to be more welcoming to everyone.”

Moonbirds, like other CC0 initiatives, will rely on the Ethereum blockchain’s provenance to establish that the NFTs are authentic. It will not come from trademark lawyers defending trademarks, but rather from the demonstrated provenance and single source of truth of smart contracts.”

After just a few days of XCOPY tweeting that they would also open up all of their past artwork to the public domain, Proof has announced that they will soon be doing the same.

XCOPY specializes in one-of-a-kind digital illustrations sold for millions of dollars each, unlike Moonbirds. Before XCOPY put its “Right Click, Save As Guy” artwork into the public domain, it sold for roughly $7.1 million worth of ETH.

“Summer.jpg” and all of XCOPY’s other non-collaborative works will also be accorded CC0 status on Monday.

As XCOPY stated, they haven’t really seen a CC0 summer yet, but they believe it’s coming. They are going to go ‘all in’ and apply CC0 to all existing art.

Deal with CC0

An increasing number of Ethereum NFT creators, like Proof and XCOPY, are taking advantage of the burgeoning CC0 movement. The most well-known CC0 initiative in the field is Noun. It is a new NFT project that auctions one NFT daily and grants owners voting rights to a valuable DAO treasury.

Various derivative NFT projects have used the boxy “Noun glasses,” from Lil’ Nouns to 3D Nouns to NounPunks, among others. Ahead of its first anniversary, the Nouns aesthetic is being incorporated into goods and other forms of media.

A Bud Light commercial used the Nouns glasses during the most recent Super Bowl. The Bud Light company owns a Nouns NFT and participates in DAO votes, but it was not required to own the NFT to utilize the glasses in the ad. That’s a surprising turn of events, keeping with the Web3 movement’s decentralized, open-source spirit.

Ethereum NFT Owner Benefits

In November, Nouns co-creator 4156 told Decrypt, says you don’t need copyright anymore. In the same way as academic citations, Nouns elevate the value of originals, which is at least our premise, will also elevate the importance and value of the originals cited.

To put it another way, the increasing use and dissemination of IP, in the opinion of 4156 and many other CC0 supporters, should add value to the original NFT products. It is rather than detract from them. On the contrary, the images are meant to be distributed like viral memes.

However, some NFT owners may benefit from the spread of open-source IP.

According to an in-depth a16z Crypto overview of the CC0 movement released on Wednesday, “CC0+NFT does for media what Bitcoin achieved for currency: it changes an adversarial game into a cooperative one.”

It’s a huge undertaking, and we’ve only been using Nouns for a year. In contrast, Nouns has already been featured in a Super Bowl broadcast. Moreover, the Nouns DAO uses its substantial financial resources to support projects. Especially those that contribute to the IP’s expansion and dissemination and enable and encourage derivative works openly.

Other CC0 Projects

Other CC0 projects include Goblintown, CrypToadz. Mfers. Anonymice. and Blitmap. The Nouns auction and DAO approach are unique. The NFT lists of fantasy gear can be used as a basis for a wide range of projects. Including games and narrative products. This is another well-known example of the notion.

However, Moonbirds is not a CC0 project: it is opening up to the whole public, regardless of how many NFT owners feel about it. When handing over the keys, Rose appears to have no problem.

He tweeted that they can’t change their views. They have their full support, and they can’t wait to help them with all of their artistic pursuits.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Abby Hernandez is an independent crypto writer for iBaseTrading. She is passionate about NFT, decentralization and anything related to blockchain technology. She has worked in the financial sector for 7 years and loves yoga and dancing.