Character-based NFTs have become a status symbol for owners who regularly use their animated creatures as avatars on social media. Sure, it’s signaling access to a community (and a level of cachet given how much these NFTs can go for), but that’s usually all it is.
Welcome aBored @Eminem pic.twitter.com/uvKKql8Dmh
— NFT (@NFT) December 31, 2021
However, some NFT holders, namely those in the Bored Ape Yacht Club, are at the forefront of what could be the next wave in the space: NFTs as intellectual property.
The restrictions within NFT licenses vary depending on the company or developer behind the collection. While most of the major players, including NBA Top Shot and CryptoPunks, prohibit owners from commercial use of their NFTs, Bored Ape Yacht Club, which recently passed $1 billion in sales on NFT marketplace OpenSea, gives full rights to the NFT owner.
That means whomever owns a Bored Ape can spin it into whatever film, music, TV, book, or media project they want.
“I…
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Source : fastcompany.com
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