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The Smartists BLOG

Nov 146 min read

NFTs & Copyrights - FAQ


[Lee el artículo original en Español aquí]

Hello, I'm Flower and this is a new content where I will try to solve some unknowns about NFTs and Copyrights with the aim that both NFT artists and collectors have a clear idea of what they mint, what they acquire and what they cannot do with their pieces.

It's great to create and sell NFTs, I dare say you can make a living from it if you build a community, do it regularly and have specific goals. I believe that the crypto world provides opportunities for everyone, but among so much market excitement, seeing how others receive large sums of money for their NFT collections makes us miss many things that have to do with our activity in the long term.

As artists, you can create/sell NFTs and earn royalties for life. In general, in the first sale you earn 90 to 95% of the total price that you have stipulated, the rest is taken by the marketplace, then you can earn between 2 to 5% from now on, each time it is sold, and here comes a topic to analyze...

Suppose you sell an NFT on a marketplace for $50: you earn 90% ($45), the marketplace takes 10% ($5). Now, if this piece sells again but for $1000 and assuming you put 5% royalties on secondary sales, then you would earn $50, and if it later sells for $10,000 you would only receive $500. To this, let's add the following: An owner has printed and sold t-shirts with your NFT but you are not taking any of it. Does this seem fair? Of course not!

Value your work very well, stop giving away thw most valuable thing you own. At least start with a good starting price. Trust that if you do things right sooner or later it will work out.

The only painting that Van Gogh sold in his lifetime was: The Red Vineyard in Arles, it is disputed if he sold any other but there is no doubt about this one, Anna Boch bought it for 400 francs (about $1000 today). Currently it is estimated that if they wanted to sell one of his most reproduced works, The Starry Night, it would be worth between 500 and 1 billion dollars: amazing, right?

As artists, before creating and selling pieces we must leave our seeds (NFTs) sown in fertile ground: study about NFTs, blockchain, which marketplaces and smart contracts favor you the most and be well informed about copyrights, which is skipped by most and it is the way we set our limits, which as in life itself are so important to have healthy relationships.

Limits define us. They define what we are and what we are not. A boundary shows me where the other person ends and begins.

- Henry Cloud.

As an author, if you create and sell an NFT, what rights are you giving away?

You are giving a property right, you are NOT giving rights over the copyright of the NFT. What the property right includes is: buying, selling, lending and/or transferring the NFT, nothing more. The owner of an NFT does not have the right to modify the work, nor to manufacture, sell or market merchandising of it, unless it is for personal use.

The authorship does not change and no copyright is transferred.

To manage the rights of use of digital works, which today can be certified and transferred as NFTs, authors must attach licenses. Only in this way can those who buy these NFTs know what they can actually and legally do with the digital file they receive. Read more about it here.

Is my NFT protected by Blockchain?

To a certain extent yes, because when your work is registered in the blockchain we have a reference point on intellectual property, so if there is a dispute you could prove authorship, however it should be accepted by the corresponding body, it depends on each country, since it is the states that generate and guarantee intellectual property rights.

✅ In this video I show you How a work is registered in the blockchain? (an NFT in Bitcoin) -> Cómo queda registrada una obra en blockchain? (un NFT en Bitcoin).

Can I create NFTs of real or fictional celebrities or trademarks?

Would you like to see a photo of you that you shared on Whatsapp spread and sold around the world without your authorization? I guess not, right? Well, for NFTs it works the same. If you don't have permission through copyright license then you can't. You have to be very careful with this because as the work is registered on the Blockchain, if you break an intellectual property law, the proof will be there and it will be fully visible. Who, how and when it was made and sold can be verified.

Recently Marvel and DC Comics released a statement saying that they did not let anyone make NFTs, so those who coin NFTs that include characters from these brands may be persecuted in the future.

As an artist, you may really like another artist or public figure but you have NO right to NFT them without permission, it's that simple. If you are low profile, nothing would happen, but if that becomes popular and more, you may be sued in the future.

Can my NFT be plagiarized?

Yes and no. They can take your illustrations and mint them in the same or other blockchains, however what has value is acquiring works directly from the creator artist, that is why it is important to build a solid community that supports you in addition to verifying your social networks and user accounts. in marketplaces.

Plagiarism and piracy have been around forever. You are not fooling others when you buy a copy, rather you are fooling yourself.

Smartists is a pioneer within the Stacks ecosystem when it comes to Copyright. They are developing an International Smartists Licensing System [I.S.L.A.] that allows two parties to carry out a copyright license agreement included in the sale of NFTs.

Smartists will soon launch these first 3 license levels for self-managed artists:

     Level 1: Display.

     Level 2: Display & Copy.

     Level 3: Display, Copy & Adapt.

By the way…

✅ Connect your Xverse wallet to the app: https://smartists.net and become a member by creating a user account on the platform and request a free Mirlo NFT through the official Smartists Discord here: https://discord.gg/93CzmEbHqg Limited quotas 👀

To make a quick summary of this post, we are preparing an infographic... Coming soon in The Smartists Blog!

That's all for today. We will continue to advance on this topic later.

I send you all a big hug and hope you have a great day!

Flower.

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