You’re probably wondering what the hell a cc0 NFT is. Intellectual property, or IP rights, copyright, and other comparable licences that are available for abstract property like digital art are where it all begins. Now that decentralisation maxis enjoy the open and transparent branding aspect of cc0 NFTs, they are growing in popularity. Artworks licenced under “Creative Commons Zero” are included in projects like CrypToadz, Blitmaps, and Mfers. Then again, what does cc0 mean? And what connection does it have to commercial NFT IP rights?
Most people mistakenly believe that if you mint an NFT, all you receive is the image. But not all NFTs are as straightforward. Some grant holders of intellectual property (IP) rights a licence, while others give them nothing at all.
Knowing your rights when using NFTs is very vital. So let’s start with the most well-known rights in the world of NFTs today, the cc0 rights, and what they mean in the NFT world.
What does cc0 mean?
Cc0 stands for “Creative Commons Zero.” Basically, it means that all copyrights and similar rights to the public domain are forfeited by the IP (intellectual property) rights owners. To put it another way, anyone can use cc0 objects for essentially any purpose. Anyone may use the IP to produce their own material thanks to cc0 rights.
So what is a cc0 NFT?
A piece of digital content with abandoned IP rights is known as a cc0 NFT. To put it simply, anyone can duplicate a cc0 NFT. There are no legal implications when using cc0 NFTs to produce commercial items.
Furthermore, if you utilise a cc0 NFT, you are not required to provide credit to the original author.
For instance, the leading project Goblintown grants their artwork full CC0 rights.
Cc0 Vs. Commercial IP Rights: Which is the best?
Of course, cc0 NFTs have advantages and disadvantages. Most benefits, though, can also turn into drawbacks. In the end, it all depends on how you feel about the situation.
When you own a cc0 NFT, you are free to use it for commercial purposes however you see fit. You are free to use the NFT without the project owner’s or artist’s consent.
However, anyone else is welcome to utilise it as well. Since the IP is in the public domain, anyone who right-clicked and saved your NFT has the same ownership rights that you do. Yes, anyone could utilise the collection’s branding for their own business, including those who are not familiar with it.
The branding of cc0 NFTs is another aspect over which project owners have no influence. That’s because, figuratively speaking, ANYONE can utilise the likeness in any capacity.
Full commercial IP rights, in contrast, only permit the holder to utilise the NFT’s likeness. This makes a wide range of alternatives for granting IP licencing to third parties possible. The Bored Ape Yacht Club is a fantastic illustration of this. A lot of apes licence their NFT IP for music videos, movies, TV shows, and fashion. In essence, the BAYC offer commercial rights. It’s a benefit of having complete IP ownership independence.
Examples of Successful cc0 NFTs
While some think it’s unsightly, others laud its originality. In any case, Goblintown has been causing a stir among NFT enthusiasts. The 10K avatar NFTs are all cc0, allowing their owners to use them for any type of commercialization. Having a Goblintown NFT registered under a creative commons licence in this situation would be beneficial. These collectibles distinguish out in terms of design.
In reality, the contentious initiative completely altered how people in the NFT industry thought about beauty. The collection’s starting price in ETH is 1.9, and numerous NFT whales support the project. The Goblintown NFT NYC Party was unexpectedly hosted by Steve Aoki this summer.
There are no avatars, pictures, or statistics; only white text on a black background. Despite how straightforward it may appear, Loot has changed how the community interacts with its NFTs. The 8K NFTs are essentially a “loot bag” full of guardrails.
Anyone may use these digital materials for their own project because they are cc0. This project stimulated the inventiveness of developers, resulting in P2E games and cutting-edge rarity explorer tools. Today, a Loot NFT’s floor price is 1.03 ETH, which is a great accomplishment given that minting was free at launch. Visit this page if you want to learn everything there is to know about the intricate Loot ecology.
Mfers is one of the best meme culture representational endeavours. Sartoshi himself designed the 10,000 avatar-like NFTs that make up this hand-drawn creation. Sartoshi was a well-known NFT Twitter meme maker, to put it briefly. Until, that is, he disappeared.
The digital stickmen, as basic as they might appear, quickly dominated the market after being introduced. The current floor price for an Mfers NFT is 1.18 ETH. But the most expensive pieces sold for 11 ETH, catapulting this cc0 project to fame.
Nouns: the most successful cc0 project
Looking for a cc0 NFT project to use for a Super Bowl ad? So the answer is Nouns. The floor price for these pixelated avatars is only 99 ETH, so take caution. Unquestionably, this is among the most successful cc0 projects to date.
Nouns doesn’t contain many NFTs, in contrast to the majority of NFT collections. Instead, the NounsDAO team’s objective is to carry on this process “forever” by daily auctioning off a new digital asset. As a result, one of the richest treasures in the NFT realm is held by NounsDAO, which is co-governed by all NFT holders.
Is it cc0 summer?
The quick response is “maybe.” More and more cc0 NFT projects have become quite popular this year. NFTs can be used as they want, which is a perk enjoyed by artists, game designers, and collectors alike.
This truth is further demonstrated by a short glance at the most well-liked summertime projects. For instance, Goblintown moved from a free mint to revenues of nearly $130K while having no strategy or utility. More than 124.5K people follow them on Twitter, and they still support this unusual group. This new project is prospering impressively despite the bear market!
This accomplishment has encouraged other NFT developers to switch to cc0 as well. For instance, XCOPY, a well-known digital artist, has declared that all of his NFTs will change to CC0. Since owners obtain the IP rights for each work, XCOPY’s artworks will likely influence many other upcoming initiatives and artists.
The Moonbirds cc0 Controversy
Proof declared that the licence for Moonbirds changed to cc0 in August 2022. To clarify, the well-known project revoked the holders’ commercial rights. Unfortunately, the team immediately faced criticism from members of its own community.
Therefore, the switch to cc0 violates the initial agreements Moonbirds made with the minters. Nevertheless, even when the community disagrees with their choice, it is lawful.
In conclusion, it’s likely that more cc0 NFT projects will be released soon. By allowing owners of digital assets to use them anyway they see fit, the new trend makes NFT distribution easier. The availability of cc0 collectibles in some of the most popular projects on the market has persuaded eminent artists to accept the shift as well.