The NFTs that generate copyright information may be included for the content creators from now on, according to Safe Creative, the company that created the world’s first online intellectual property registry.
In this way, authors can create NFTs of their works indicating which use permissions, or rights to the work acquires the buyer, in addition to allowing the automatic collection of a percentage of royalties about future sales of your parts.
An NFT is a digital piece made from codes that make it unique, with information contained on blockchain technology in which it is registered who is its owner and all the property changes it may have had. The latest standard for managing NFT transfers (ERC-1155) also allows the allocation of remuneration percentages derived from all NFT sale and purchase operations, which are automatically entered into a specific virtual wallet.
Safe Creative’s innovation solves the legal question about what rights to the work the buyer of the NFT acquires. It is a novelty that transparently incorporates the information in an unalterable way.
So far to meet what rights granted the purchase of an NFT, it was necessary to go, or look for if they were specified in any external source, with all the doubts that about its validity and inalterability raises that -because it is information unrelated to the NF- it may have disappeared or been altered.
With the announcement, Safe Creative incorporates the means so that the NFTs in addition to identifying a specific item of the work, provide information on the authorship and intellectual property rights that their possession provides.
In this sense, Juan Palacio, co-founder of Safe Creative explains it like this: “The NFTs are perfect for registering purchase and sale operations with the guarantees offered by the decentralization and transparency of the blockchain, but they have a weak point: they do not make it clear what the owner can do or what rights the author grants over the acquired work. As this information is not included in the NFT, its transmission in subsequent sales is not guaranteed. It can even be altered, or disappear. To solve this legal question, at Safe Creative we have developed the creation of NFTs with a link that points to an unalterable content web address (IPFS) that contains the declarative information of the authorship of the work along with the description of the rights assigned to it. owner of the NFT ”.
Legal dilemma solution
Safe Creative’s proposal solves a legal dilemma that exists in these works, which is that any NFT proves who is the owner of the digital item that represents the work, but not who its author is. The focus of the NFT is the commercialization of the work, not if the person doing it is the author or has the copyright to do it.
Until Safe Creative’s contribution, it was not possible to incorporate information on the conditions of purchase or sale of the goods and services that an NFT may represent. Nor on the way in which the authors want their works to be consumed. Thanks to Safe Creative, this lack of NFTs is a thing of the past since, when registering a work, it is possible to create an NFT at source that not only allows indexing of this type of information using IPFS technology, but also guarantees its inalterability and traceability. .
As the IPFS information link is integrated into the NFT itself, the conditions and rights are known and accessible at all times – they are not lost, or forgotten in future transmissions that future buyers of the NFT may make – in such a way that any consumer of contents, you can now consult the indexed rights.
