a16z Recommends A Special Set Of NFT Licenses

a16z has just proposed a set of 6 special NFT licenses inspired by Creative Commons, allowing projects to decide the owner can exploit and commercialize IP.

Andreessen Horowitz Ventures (a16z) has devised a set of six licenses for NFTs based on a pioneering Creative Commons model. The proposed set of licenses, called “Can’t Be Evil,” is completely free to help NFT creators protect their intellectual property.

Some issuers have already resorted to Creative Commons, a nonprofit group that provides free copyright license to allow creators to share their work, while the status of other NFT attempts is unclear. With the emergence of a wave of no-rights-reserved initiatives, a16z believes there is an urgent need to clarify how owners can utilize NFTs and allow others to use them.

The general counsel at a16z, Miles Jennings, said:

“There is kind of a wildly broad spectrum of approaches that people are taking. Greater standardization around the industry will help unleash the economic potential of that sector of the industry.”

In a blog post published on Wednesday, Jennings and Chris Dixon, an Andreessen Horowitz managing partner who created the firm’s crypto arm, announced that a16z was issuing “a set of free, public ‘Can’t Be Evil’ licenses, designed specifically for NFTs and inspired by the work of Creative Commons.”

The company recruited lawyers to assist in describing various license levels, and the wording is available on GitHub for anybody who wishes to use it.

Many leading projects, such as Bored Ape Yacht Club, have granted NFT holders the right to use images to create and sell artwork and derivative works, or Dapper Labs, creator of CryptoKitties. The question, however, is whether IP licenses are legally sustainable or whether creators are deceiving buyers. Can’t Be Evil is considered a16z’s solution to the above question.

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