What IP rights does the buyer get when they buy an NFT?
When you purchase an NFT, the intellectual property (IP) rights you receive aren't always straightforward. They hinge on the terms set by the original creator or seller. Depending on the platform and the nature of the digital content, these terms can vary widely. On many platforms, even after buying the NFT, the original creator might still hold significant rights over the digital content's usage, reproduction, and distribution. Often, buyers might only get the right to display the content for personal use, with limitations on commercial activities or modifications.
At IOGINALITY, we've streamlined this process to ensure clarity for all parties involved:
- Basic Rights License: This allows buyers to resell their NFTs on IOGINALITY and display the artwork for non-commercial purposes. It's perfect for those who wish to create free exhibitions, both online and offline.
- Commercial Rights License: This goes a step further. Buyers can print the artwork on various items like T-shirts or mugs, ideal for personal gifting. Additionally, they can use the artwork for commercial displays, such as billboards, commercial exhibitions, metaverse showcases, and various media channels, as long as they don't modify the original piece.
- Full Rights License: This is the most comprehensive license. Buyers get complete control over the artwork, including the freedom to print, merchandise, and even license it to big brands for sales. In essence, with this license, buyers acquire all intellectual property rights, making them independent of the NFT's original terms.
By offering these clear-cut license options, IOGINALITY ensures that every transaction is transparent, and buyers always know the extent of the rights they're acquiring.