NFT Moonbirds Received Negative Reaction Upon CC0 Licensing Decision

The NFT Moonbirds project is creating a debate and receiving negative reactions from the community because of a major change in intellectual property policy for those who have purchased NFT.

NFT Moonbirds empowering CC0

On August 5, founder Kevin Rose announced that he would grant Moonbirds and its derivatives collection Oddities a Creative Commons (CC0) license, which would mean giving up the right to collect royalties on the NFTs.

Creative Commons (CC0) is a movement to deny intellectual property rights to inventions and products, allowing society to freely use and develop derivatives thereof without paying the author’s fees original or inventor. CC0 is praised for putting the interests of the majority above individual self-interest.

Meanwhile, according to the commitment made initially at the time of sale, Moonbirds buyers will receive full intellectual property rights to the NFTs they have purchased, meaning that only they can create new products. derivative work and make money on it. Anyone else using their NFT images will have to pay a royalty fee, including the NFT issuer.

The response of the NFT community

As can be expected, the reaction of the Moonbirds investor community was extremely negative to the above news. Most NFT holders feel “cheated” because they have been stripped of a right that was promised to them at the time of sale.

On the other hand, those who do not hold NFT Moonbirds are extremely excited about this change, because they will be able to freely create derivative works for the project without worrying about royalty costs.

It’s also understandable for the Moonbirds team that the recent downturn in the NFT sector has forced them to look for new avenues to revive interest in the project. However, attracting new buyers is difficult because Moonbirds prices are high. Therefore, it makes the most sense to waive intellectual property rights to remove the cost barrier, allowing those who do not need to hold NFTs to also participate in the development and expansion of the Moonbirds idea.

However, the price of Moonbirds since the project’s CC0 license announcement has dropped by nearly 9% when a part of investors decided to sell NFT when it was no longer possible to collect royalties from the project.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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