[Your NFT is not your NFT? Look at the controversy after Musk changed his BAYC avatar]

Yesterday, Tesla founder Musk’s operation on Twitter caused another wave of discussions about NFT copyright and ownership.

Musk replaced his Twitter with a mug shot made up of many BAYC (Boring Ape Club) avatar pictures.

Since BAYC can be said to be the most blue-chip and most topical project in NFT at present, the atmosphere has been heated up in an instant, and Ape coin has risen by 20%. (Ma Tou is going to cut leeks again XD)

【Disputes over the ownership of BAYC】

With the skyrocketing popularity of head-changing stickers, a controversy also followed. Larry Cermak, The Block's research director, claimed that one of Musk's monkey images was his own, and asked a lawyer to send a letter warning Musk to take down the mugshot.

And Musk changed his head post in less than a day and left a tweet:

I dunno... seems kinda fungible (I'm not sure, it still feels very homogenous).

As a result, Ape coin fell back XD.

But what's interesting is that we can discuss and see if Musk's operation has any "infringement" ?

[The copyright and ownership of NFT are actually separate]

In the book NFT Future, it is mentioned that the difference between NFT copyright, ownership and naming rights.

Copyright includes asset reproduction, reproduction, derivative copyright, public display right, etc.

However, after the NFT is sold, only the "ownership or naming rights" are transferred to the purchaser, and the copyright is still owned by the original author. (Unless the contract states that along with copyright transfer, which is rare and I don't think most buyers will notice this.)

In this way, the infringement of Musk proposed by Larry Cermak yesterday seems unreasonable, after all, he does not own all the rights of the monkey.

I think Musk may also want to take this opportunity to mock the current state of the NFT market (which is in line with his usual style).

As the current high-priced NFTs continue to hype and change hands, everyone replaces them with newly bought NFTs in the process. Since the technology for verifying the authenticity of NFTs is not yet popular, no one can determine whether this is yours, let alone discuss the copyright and ownership of NFTs.

【What do blockchain lawyers think?】

I once discussed copyright and ownership issues with several cryptocurrency lawyers in a blockchain legal panel, and also mentioned that there are many creators who claim to buy their NFTs to get his brokerage share. Is this? Has legal effect?

My question: When you buy NFTs, what you get is actually "ownership". But does the "copyright" still belong to the creator? If it is true, the copyright should have greater rights than the ownership. Wouldn't it be true that the actual rights of the NFT holder are not as big as he imagined? (Display rights, Erchuang right, etc?)

The lawyers replied: yes, the holder has no copyright. And the rights of the holder also depend on how much rights the creator has declared to give you during the transaction. As for those who say that they want to share profits with the broker, most of them may be "topic > actual". Once the cash flow of fiat currency is involved, there must be tax-related issues, which are not that simple.

【Summarize】

Although Larry Cermak said in the end that everyone took his message too seriously, Musk also changed his head post within a day. This wave of controversy ended with the decline of Ape coin, but the common sense about NFT's legal rights is What all buyers and sellers need to know!

Finally, this discussion article on NFT authoring and ownership in response to the NFT authoring fund event hosted by@Matty. Please give a little support and take a little time to read it carefully after reading the article. Thank you!

Incentive:

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Reference: https://twitter.com/lawmaster/status/1521812659791974401 / NFT Big Future / Mr.shell

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