The Metaverse and NFT Licensing Protocol

Licensing your virtual artistic and intellectual property on the appropriate blockchain

The legal difficulties that blockchain, non-fungible tokens (NFTs), and the metaverse present are becoming more and more in the spotlight as usage of these new technologies develops. For dealers, purchasers, and trademark owners alike, not knowing intellectual property rights in a virtual environment can raise risk.

In the real world, creative works like music, art, pictures, and videos are kept from being copied by registering them as copyright or trademarks.

But it’s not clear how intellectual property protection works in the digital world.

If current U.S. court decisions are an indication, brands and creators are more careful to stop people from using and selling their creative works without their permission in a virtual or metaverse-like digital environment.

Because the ownership rights given to NFT consumers and the protections given to NFT authors can change from transaction to transaction, it is especially important how courts interpret and apply IP law in the blockchain space.

The technology is growing

The burgeoning technology that surrounds blockchain and NFTs presents issues and questions regarding the enforcement of intellectual property rights in a digital setting. When thinking about using NFTs in a web3 setting, these issues and concerns become even more complicated and difficult to answer. When it comes to certain uses of products, the notions of data decentralization and user ownership in data, which are key to the web3 architecture, are in direct opposition to one another. NFT issuers and purchasers both have a responsibility to have a comprehensive understanding of the ownership rights that are either transferred or obtained as a result of an online transaction. If one or both of the parties involved in an NFT transaction lacks this information or understanding, there is an increased chance that they will suffer a financial loss.

Before beginning any large NFT project it would be prudent to engage the services of a digital licensing agency like vartprotocol.com.

These are the people who are experts in the field, and have the experience necessary to prevent costly copyright disputes and other hassles that can delay your artistic ascendency. 

And finally . . . 

Non Fungible tokens (NFTs) are distinctive, blockchain-based digital assets linked to copyrighted photos, films, games, and other types of creative property.

Also common in NFTs are trademarks. NFTs offer prospects in the online market, however there are other legal factors to take into account, such as the following:

  • Make sure you own or possess all of the rights to your NFTs. 
  • To protect your NFT and metaverse plans, think about pursuing US and international trademark applications.
  • Think about how many NFTs you’ll mint, how you’ll mint them, and whether you’ll sell, distribute, or auction them.
  • Choose whether you’ll “drop” your NFTs on an established NFT marketplace or a niche website.
  • Think about how you’ll integrate your social media efforts with your NFT promotion and metaverse presence.
  • Think about how network costs, or “gas,” might influence your blockchain activity.
  • Be warned that third parties may produce counterfeit copies of your NFTs and/or advertise their NFTs using your trademarks and copyrights.
Adam Hansen