Yuga Labs Clear the Waters of its NFT Copyright

Yuga Lab is home to some of the market’s most beloved NFT projects, and it’s no surprise that its intellectual property is of interest. Many of his NFT owners have commoditized assets and there is also an ongoing lawsuit with Ryder Ripps, which has been repeatedly discussed.

To clear the air, Yuga Labs asked IP attorney Jeremy Goldman to shed some light on the inner workings of copyright licensing and commercial rights and quell all rumors.

Due to confusion regarding the IP licenses and commercial rights granted to NFT holders, we have reached out to copyright and IP attorneys. @jeremyg2k To help put things away. https://t.co/V2nF9svWmW

Yuga Lab (@yugalabs) February 1, 2023

Yuga Labs Customer Rights

In a blog post on Yuga Labs’ website, Goldman said the company retains the copyright on all NFTs, and this does not depend on whether brands take specific steps, such as filing copyright claims. I explained. This is because copyright relies on the creative input into the work Yuga Labs has done for his NFT.

The bottom line is, like all creators, Yuga owns the copyright to the artwork, whether or not they took the hassle of managing registrations, says Goldman.

What about boring monkey owners who are starting businesses with their assets? When Goldman purchases most of the assets owned by Yuga Labs, he receives legal ownership of the assets and the right to use their commercial license. However, the copyright remains with the company, so they will not receive it.

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*All investment/financial opinions expressed by NFT Plaza are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.

Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.