Comment on study on “Intellectual Property Rights and Distributed Ledger Technology with a focus on art NFTs and tokenized art”
Context This is my comment on the study on "Intellectual Property Rights and Distributed Ledger Technology with a focus on art NFTs and tokenised art", commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the...
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My comment on the study on “Intellectual Property Rights and Distributed Ledger Technology with a focus on art NFTs and tokenised art”, commissioned by European Parliament‘s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the JURI Committee – with a focus on 1. the myth of automated royalty payments and 2. copyright violations through right-click-minting.
This study should be discussed more broadly. Apart from some inaccuracies, it actually sketches a good but very discouraging scene of the current NFT market for rightsholders.
My main conclusions:
1. Creators expect or even demand royalty payments (indeed a creator fee), while they actually provide no hint or means to even remotely apply licenses or copyright law to the NFTs.
2. It might also be an intentional decision not to provide any rights management information or licenses for the creative work representing the NFT to keep copyright discourse and regulation at distance.