Understanding Copyright Licenses in NFTs

Copyright License Variety in NFT Marketplaces

– Most marketplaces are silent on the customization of terms
– Licensing frameworks based on different strategies
– Scope of Use examples
– Terms of use tend to also mention other rights being licensed

CryptoPunks and BAYC License Comparison

– CryptoPunks License
– Bored Ape Yacht Club License

Current Legal Questions and Concerns

Unanswered Legal Questions*

– Validity of licenses through token purchase
– Transfer of copyrights or exclusive licenses
– Enforceability of licenses and rights of subsequent buyers
– Right to enforce the license
– Changing license terms
– Sublicense handling upon transfer
– Enforceable copyright for generative or AI art creations