The market for NFT Tokens stays very young especially seeing him since his explosion last year. A veritable frenzy of random rarities collections, few of which will survive the years. And whose speculative excitement left little room? respect for copyright and intellectual property. A situation that has given the appearance of legal action against certain projects. And a legal vacuum to which the structure a16z wants to offer a solution in the form of licenses grouped under the name Can’t Be Evil. explanation…
It is not in the midst of a bullish market that major bases are being built. Because you should be able take the time to figure things out to determine the main directions for the future. And very often it comes against violent decisions made hastily to take advantage of a favorable trend. Especially when it comes to the cryptocurrency sector, whose projects are often caught between obvious innovation and a runaway road with sometimes disastrous consequences.
This is why the descent to hell recorded by the NFT market is not necessarily just negative. Because it allows first to identify the actors who will manage to survive the ongoing vacuum cleaning. But also to lay the legal foundations of a still chaotic economy in relation to certain legal obligations. An exercise in which the venture capital structure ofAndreessen Horowitz (a16z), with an initiative called can’t be bad.
Can’t Be Evil – Licenses for NFTs
The a16z structure approach has the merit of filling an important gap regarding the NFT token sector. All this in the context of the problem of intellectual property and respect for copyrights. An appropriate necessity to protect the collections of NFTs, but also to impose limits on their creators that should not be exceeded. With a clear desire for simplicity and accessibility, with the aim of “standardization in web3 industry“.
“There is currently significant ambiguity and legal risk in the NFT ecosystem, a lack of standardization makes it difficult for NFT buyers to know what rights they are getting, and creating custom licenses is expensive. industry”
Miles Jenningsgeneral advisor and head of decentralization at a16z
All this according to the Creative Commons (CC) model that was initiated two decades ago, with the aim of creating the very first free public licenses. The latter are currently used to protect more than two billion works worldwide. And, as Miles Jennings explains, “levels of permissions granted by the original creators or copyright holders – be it customizations, derivatives, commercial use, etc. Features that extend the scope of licenses can’t be bad tries to reproduce for the NFTs, in the context of the rise of the web3. Because these innovations “put the limits of traditional legal frameworks to the test”…
Can’t Be Evil – Harmonize the ownership of NFTs
The purpose of this series of licenses is to: take into account the “new computing paradigm” imposed by blockchain technology and the principle of decentralization. A “new ‘trusted’ version of the internet” that assumes that, “thanks to code”, no one can really be malicious. That’s why – and maybe a little optimistically – it’s all called “Can’t Be Evil”. Because we must not forget that the a16z structure is often chosen indoors DeFi due to the excessive community weight in certain protocols believed to be decentralized.
” The “Can’t Be Evil” licenses (…) transparently codify the rights of creators, buyers and sellers of NFTs so that each party has a common understanding of the rights associated with their property. (…) Projects using “Can’t Be Evil” licenses can make NFT ecosystems more reliable, providing licensees with a minimum baseline of standard fair values, harmonizing real ownership with in-chain ownership.. »
Can’t Be Evil – 6 different license types
However, this initiative is based on the implementation of 6 different licenses. These are distributed according to the desire to claim specific rights:
– Exclusive commercial rights,
– Non-exclusive commercial rights
– Non-exclusive commercial rights and termination for hate speech
– License for personal use
– License for personal use with termination of hate speech
– CCO 1.0 Universal
These six licenses are available on the GitHub a16z crypto site. And a legal introduction (PDF) is also provided by the a16z structure to help you understand the subtleties and make the right choice. These are placed under the Creative Common principle, “to allow the community to use, fork, iterate and improve the licenses with the greatest possible freedom”. Because, as Miles Jennings acknowledges, there is no doubt that this will all evolve (very) quickly.
The cryptocurrency market is full of exciting initiatives and unparalleled opportunities. That is why the FTX platform is the obvious choice to take on this digital adventure in complete safety. This while benefiting from a lifetime discount on your trading costs (commercial link).