Copyrights and NFTs are complicated. Having the digital token doesn't transfer ownership of the digital asset or its copyrights. The NFT would be like owning a figurine of, say, a Walt Disney character as an example. Having a ceramic figurine doesn't give you copyrights for the image of Mickey Mouse, but you could sell it at auction. You might be able to use an image of the figurine itself, but that sounds like a potential lawsuit for infringement. The tokens have smart contracts attached to them that specify legal details, so I assume this could transfer some or all copyrights for the digital item that was tokenized.
https://stevenslawgroup.com/copyright-is...kens-nfts/
Getting away from the DNA angle, I have been reading about how NFTs are valued, and the scarcity of the tokens is important. Then you have added value by redeeming the digital asset for a physical one, and other creative ways to add real world value.
I would transfer some copyrights while retaining royalties. The digital asset should have some kind of real-world value as well. Divide the digital asset into tokens and then only make it redeemable when all the tokens are held by a single owner. Perhaps it can be redeemed for other NFTs for larger digital assets with more features, like a pyramid scheme.
Quote:The role of smart contracts in NFTs
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. In the context of NFTs, smart contracts automate the process of transferring ownership and distributing royalties. However, smart contracts do not inherently transfer copyright ownership unless explicitly programmed to do so.
This limitation has led to confusion among NFT buyers, who may assume that owning an NFT automatically grants them rights to use the underlying work. In reality, transferring any copyright associated with the asset often requires a separate, written agreement.
https://stevenslawgroup.com/copyright-is...kens-nfts/
Getting away from the DNA angle, I have been reading about how NFTs are valued, and the scarcity of the tokens is important. Then you have added value by redeeming the digital asset for a physical one, and other creative ways to add real world value.
I would transfer some copyrights while retaining royalties. The digital asset should have some kind of real-world value as well. Divide the digital asset into tokens and then only make it redeemable when all the tokens are held by a single owner. Perhaps it can be redeemed for other NFTs for larger digital assets with more features, like a pyramid scheme.
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