NFTs vs Copyright: Is That NFT Really Yours?

Since people have been paying insane prices for Cryptopunks, NBA highlights, and, in one case, 69 million dollars for a JPEG, it’s important to understand what you are actually getting when you buy an NFT. We’re going to address considerations in buying, managing, and creating NFTs. I am not a lawyer. But, a lawyer DID help write this. Regardless, nothing in this video is legal advice, it’s just fun for learning. Deal?
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LINKS:
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Lets Get Legal with NFTs | MarketSquare
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#nfts #nftlaws #marketsquare
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Legal Details: This video and the information expressed herein does not constitute financial advice nor a solicitation for an investment. Videos on partners, topics, or news do not indicate an endorsement from MarketSquare, ARK.io, or any of our affiliates. Always do your own research.

[thefoodcan]

NFTs are the new money laundering method

[escanor]

So wat if i make an nft based on an anime character, say like goku with variations in hair on a different base like may be on a zebra or a lion.. Can that result in a copyright issue?

[ahobimo]

I think I get it now. An NFT just proves that you have an exclusive right to a specific piece of information. What that right is, depends on the details of the NFT itself. It really is just a token, like a signature, stamp or seal. It's value depends on what the token signifies.

[jinonthemoon]

I watched 3 other videos on what NFTs are and did not get it. I got the sense that it was related to copyright law somehow, but none of the other videos went into that topic. This video did, and I was able to finally understand what NFTs are. Thank you.

[peacefusion]

If you make a drawing from like batman you risk everything else in fan art laws.

[MaryamNouripour]

What if the artist passed away to get the license?

[eljanor]

One question, what about if I want to do an NFT with jerseys of NBA for example, is that possible or the NBA can reclaim they rights and proceed legally?

[markmallow]

if I make a 3d model of some expensive exhibit that is stored in the museum, can I sell it as NFT or not?

[martyrstreet]

Good quality content. Very informative

[AdMycroft-fbeo]

No, no, no, no, this is simple and explanations are wrong. From my understanding of NFTs (and I have only just realized/worked out what I think they are) NOTHING is transfered when selling/buying an NFT, apart from a coin etc. ASSOCIATED with the artwork (thus making the coin/token non-fungible, ie it's association makes it different from other coins/tokens). So as an analogy it is like if say a famous artist creates a piece of art in his house and he documents this by videoing himself creating it in said house so that everyone knows he created it in that house (and to simplify the matter and make it an even closer analogy to NFTs, let's say the artwork was digital and so there is no "original" to sell etc.). This associates the house with the artist/artwork. Now, in terms of NFTs, it is any associated increase in value of the house by this association that is being sold when the house is sold on top of the basic normal price of the house, it does NOT mean the artwork is transfered to the new owner by virtue of them buying the house; the artist can still sell copiesof this artwork, pr chose not to, he can still sell the IP (copyright etc.) of the artwork to anyone, or chose not to and to retain his IP homself. Likewise, just because someone buys a coin associated with an artwork (by virtue of the coin having the artwork data added to the transaction of it in the blockchain) does not mean they have any ownership AT ALL of the artwork, just bragging rights that that coin was transferred by the artist on the blockchain with the artwork data added to it. The NFT buyer no more owns the artwork associated with it than the house buyer owns the artwork associated with it.

Yes, houses Van Gogh lived in, for example, will be worth much more than they otherwise would be, but any purchaser of said properties does not therefore own by virtue of buying the property, any Van Gogh artworks.

I hope this makes it clear