The popularity of the issue is its own NFT collection is growing every day. Sad events in Ukraine provoked the releases charitable collections or creation NFT contests. However, for a large number of Internet users NFT collection is still a secret behind seven seals.
Let’s analyze this concept from all sides in more detail. NFT what is it? NFT non-fungible token (non-fungible token) is unique to a particular one digital content, is generated (created) once per blockchain using smart contract. After NFT can be sold, bought, exchanged on any NFT market. The most popular platform for this is OpenSea.
Blockchain smart contracts regulate who owns an NFT, how it can be transferred and ensures that no two NFTs are exactly the same. In this way, we essentially get digital content that protected by copyright.
DIGITAL CONTENT AND COPYRIGHT
Given the specificity of NFT, through the prism of understanding copyright, the date of the first fact of publication of digital content may be the release date of the collection. Additional conditions for this are specified in smart contracts. I draw the reader’s attention to what to release NFT token maybe under any digital picture, photo, domain name, video, text, etc. At the same time, the existence of copyright in the material world differs from its existence in the digital world.
Therefore, in a rapidly developing civilization, it is important to cover the fact of the first publication of the created masterpiece in the digital NFT pictures. In addition, the presence of correctly issued pictures of NFT gives the right to its owner to receive royalties (reward) from each sale. This is possible only if it is indicated in the smart contract.
All NFT activities can be tracked through transactions. Such records cannot be changed. This creates the uniqueness and rarity that gives value to such an asset. The only caveat is that NFTs are not sold for fiat money, only for the crypt. It is created for this crypto wallet Which is the identifier of the ownership of a specific NFT.
NFT COPYRIGHT INFRINGEMENT
The most popular service for issuing and placing NFT collection is OpenSea. The platform is registered and operates under US law. Yes, any digital content posted here in violation of copyright is subject to removal.
Yes, OpenSea operates in accordance with the Act Digital Millennium Copyright Act (DMCA) and supports notification and deletion NFT for copyright infringement. For this, you need to fill out the appropriate form. Evidence of early ownership of a digital asset in the physical and virtual worlds must be provided. If there is enough evidence, the digital content of the violator will be removed.
These cases of copyright infringement on digital content are not standard and have a number of peculiarities. So, yes preparation of a letter of claim and collection of evidence it is better to contact a patent attorney. In this case, the violator’s digital content will be removed as soon as possible.
Author: Konstantin Kryvopust
