New protocol aims to improve on-chain NFT intellectual property rights

NFT

V-Artwork’s new software, known as the V-Artwork Protocol, is aimed to assist shield IP rights and enhance NFT undertaking licensing and can go dwell on Nov. 2, the blockchain-based digital content material monetization platform stated.

Initiatives can confirm, shield and handle their IP rights on NEAR and Ethereum blockchains, and V-Artwork goals so as to add Aurora and Polygon this 12 months and Solana subsequent 12 months, V-Artwork CEO Anastasiia Gliebova informed The Block on the web3 Summit in Lisbon. The agency raised $1.4 million in seed funding to this point.

NFT IP rights, notably when it touches upon copyright, have led to skirmishes between NFT undertaking leaders and holders previously. Working example was CryptoPunks created by Larva Labs. The NFT undertaking didn’t have any public pointers for IP or copyright for years — till customers tried to monetize their NFT, then LarvaLabs sought authorized motion in opposition to such holders.

Partly stemming from unclear NFT IP rights got here initiatives who eschewed copyright altogether similar to Nouns, The Block beforehand reported.

With further reporting by Lucy Harley-McKeown