A new generation of creators is coming to fruition: Intellectual Property & NFT
One of the common questions surrounding NFT projects involves Intellectual Property, a term largely used, but not always understood. It is important to note that the spectrum of digital IP is expanding rapidly, and what is common cause today may not be true months from now. However, none of these things should dissuade you from using your imagination with your NFT’s here on Hyype. If you are looking to share a story, your art, your derivative, we exist to be a platform of storytelling for you. Many of the best ideas and creations are not brought forth with the idea of being great, but rather it grows to that over time. That is why it is important to understand where boundaries exist, allowing your vision, thoughts and ideas to take their best form.
With crypto being built upon a foundation of decentralization it follows suit that some of the NFT Community would ask for CC0 (This is one of the licenses that can be leveraged from Creative Commons). It represents a license without conditions, allowing owners to have freedom in how they choose to pursue the use of their NFT. You not only have access to create your own brand, but to leverage the brand of the project as well. This is a unique caveat, as many projects will allow you to create your own brand with your NFT, but not always leverage their brand for your gain. If you are part of a project like this, the amount of possibilities available to you may feel overwhelming. Know that just because you have unlimited potential to create, does not mean you are expected, or need too. The best creativity comes from things we are passionate about, when we aren’t limited, and have the freedom to explore and fail. There are many forms of Creative Commons licenses, all that provide direction for what you are able to create and how, be sure to explore early on in your process of creation. If you find yourself building within such an open ecosystem, ask lots of questions, gain insight, and have fun.
Another common position for a project to take is one where they maintain the IP, but you are able to profit up to $100,000 from merchandising your NFT. This is not better or worse than a project with a blanket CC0, just different. Not everyone that buys an NFT wants to take on the task of building their own brand. Many may have never planned to merchandise their NFT to begin with. For some, having a project be the brand is exactly what they are looking for.
For those that are seeking a narrative starting point, this structure can act as a guide to personal creativity. In either IP scenario presented so far, your ability to create content / merchandise and profit from it are eligible. For projects that do put a cap on compensation it is not so black and white. Often they will be open to have a dialogue and reach a mutual agreement. If anything, being part of a project that has the infrastructure to adopt ideas from its community can be a great benefit, and a theme of empowering their communities success is often a common theme.
Some of the most common advice to those looking to build something with your NFT is to ask questions. It cannot be stressed enough the amount of knowledge and support that exists to those that just ask. When you find yourself in an AMA (Ask me Anything), a Twitter Spaces, a Discord Stage, speak up and ask the question on your mind. The choice you make to speak may unlock an idea for someone who is listening, and give you the clarity to take action.
Whatever intellectual property stance you find yourself associated with, know that there is a place for your imagination here at Hyype. The purpose of this article is not to create a barrier between you and your dreams, but rather ensuring you understand the potential of them. Explore your thoughts, your words, your vision, and seek feedback from a community focused on providing access to creating your best work. The storytellers of the future lie in wait, looking to inspire the artists of tomorrow. This is just the beginning.
