Transfers and Licensing of Copyrights to NFT Purchasers
15 Pages Posted: 22 Jul 2022 Last revised: 28 Sep 2022
Date Written: July 2, 2022
Transfers and Licensing of Copyrights to NFT Purchasers, Stanford Journal of Blockchain Law & Policy (forthcoming, 2022), by Professor Michael D. Murray, the author of A Short and Happy Guide to Copyright Law (West 2d ed. 2022), and the principle investigator of the Blockchain, Cryptocurrency, NFTs, and the Metaverse Law Project at the University of Kentucky Rosenberg College of Law.
This Article discusses the transfer of copyright rights to the purchasers of NFTs by assignment or licensing. It discusses forms of licenses and how to convey and communicate them to purchasers. The Article examines the pros and cons of bespoke licensing, community licensing by Creative Commons licenses, and assignment of the entire copyright to NFT purchasers. The licenses of Bored Ape Yacht Club and KryptoKitties are discussed as options for NFTs.
Keywords: NFT, non-fungible tokens, tokens, blockchain, cryptocurrency, copyright, derivative works, right of display, licenses, licensing, implied licenses, digital artworks, art
JEL Classification: K1, K10, K3, K30, K40, K41
Suggested Citation: Suggested Citation