yuga laboratories It is home to some of the most beloved NFT projects on the market, and as such it is not surprising that there is curiosity surrounding its intellectual property rights. With many NFT holders trading their assets, as well as the ongoing lawsuit with Ryder Ripps, this has been a recurring debate.
To set the record straight, Yuga Labs has asked intellectual property lawyer Jeremy Goldman to shed light on the inner workings of their copyright and commercial rights licenses, putting an end to all rumors.
We’ve seen some confusion surrounding the IP license and commercial rights we grant to our NFT holders, so we asked an IP and copyright lawyer. @jeremyg2k to help clear things up. https://t.co/V2nF9svWmW
— Yuga Laboratories (@yugalabs) February 1, 2023
Rights of Yuga Labs customers
In a blog post on the Yuga Labs website, Goldman explained that the company maintains copyright to all of its NFTs, and this is not contingent on the brand taking any specific actions, such as filing for copyright. This is because copyrights depend on the creative input to the works that Yuga Labs has done for their NFTs.
“In short, Yuga, like all creators, owns the copyright to their artwork, regardless of whether they went through the administrative registration process,” says Goldman.
What about Bored Ape owners who are starting businesses using their assets? Goldman explains that when they buy most of the assets owned by Yuga Labs, they receive legal ownership of the asset and the right to exploit its commercial license, but not the copyright, as these remain with the company.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has been featured on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
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