I still don't understand this NFT-industry. But, bought one NFT on NFTShowromm last year, just to have one.
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I still don't understand this NFT-industry. But, bought one NFT on NFTShowromm last year, just to have one.
Yes I am the same I have purchased one from NFT showroom and aquired a few more in play to earn games like splinterlands where you can earn by renting them out. As far as creating them and selling I think it’s a long game , but great for copywright and proof of ownership . I am still learning though.
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The copyright, proof of ownership, and licensing is where I see the bigger value in NFTs. I only buy NFTs with reproduction or royalty free rights so I can actually use the piece. And then Splinterlands... That's a great use of NFTs.
that is where my brain gets stuck when it comes to minting NFT's what exactly is the nature of the licensing that I am choosing .
As pertained to the BlockTunes site, which basically is the same for any other platform:
A private right NFT means that the purchaser doesn't have the right to use the work commercially. It is like a piece of art that they own and can look at and enjoy and then can resell on the market for a higher price, but cannot use it outside of that purpose.
Royalty Free Licensing (or Limited Reproduction Rights as NFTShowroom calls it) basically means the purchaser can use the work for commercial purposes and not have to pay additional royalties and such down the line. This can also be sold for a higher price on the market, but if the person sells it, they transfer their licensing rights to the product. This means that video producers can use the song in a video, game, film, etc.
Creator Copyright is just that. It is a license and a separate collection that allows artists to copyright their work as an NFT instead of through the 'poor man's copyright' method which is where you seal the work in an envelope and mail it to yourself... NFT's are allot cooler way to do this. The artist will hold the NFT in their wallet as their master version. This should not be sold unless you are completely giving up rights to the work. This can be extremely lucrative... Eminem sold an instrumental with creative rights to Tom McDonald for 100k...But most artists would not want to give up their creative rights to the work.
That’s making it all a lot clearer ,thank you . is there a scenario where the artist continue to benefit from future sales of their work
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Yes, that all apart of the BSC NFT Collection information dropdown on the front page and I believe in the whitepaper as well. It's built into the smart contract. BlockTunes get an automatic 10% and the person who mints the NFT gets an additional 10% of the resells.
thats where I am heading the artists Dao, deep into the pool.
that is cool! the royalty free as well awesome 🙏