Can’t Be Evil – NFT Licenses To Simplify Their Legal Status – CryptoActu

The market for NFT tokens remains very young if you consider him mainly since his explosion last year. A real frenzy of collections with random rarities, very few of which will survive the years. And whose speculative excitement left very little room respect for copyright and intellectual property. A situation that has seen the appearance of legal actions against certain projects. And a legal vacuum to which the structure a16z wishes to provide a solution in the form of licenses grouped under the name Can’t Be Evil. Explanations…

It is not in the midst of a rising market that the important bases are built. Because you have to be able take the time to figure things out in order to determine the main directions for the future. And very often it comes up against violently decisions taken in a hurry to take advantage of a favorable trend. Especially when it comes to the cryptocurrency sector, whose projects are often caught between obvious innovation and a runaway with sometimes disastrous consequences.

This is why the descent into hell recorded by the NFTs market is not necessarily only negative. Because it first allows to identify the actors who will succeed in surviving the vacuum cleaning in progress. But also to lay the legal foundations of a still chaotic economy vis-à-vis certain legal obligations. An exercise to which the venture capital structure ofAndreessen Horowitz (a16z), with an initiative called can’t be evil.

Can’t Be Evil – Licenses for NFTs

The approach of the a16z structure has the merit of filling an important void in relation to the NFT token sector. All this within the framework of the problems related to intellectual property and the respect of copyrights. An applicable necessity to protect the collections of NFTs, but also in order to impose on their creators limits not to be exceeded. With a clear desire for simplicity and accessibility, the objective of which is to “encourage standardization in web3 industry“.

“There is currently significant ambiguity and legal risk in the NFT ecosystem, a lack of standardization makes it difficult for NFT purchasers to know what rights they are getting, and creating custom licenses is expensive. All of this acts as a drag on the industry”

Miles Jenningsgeneral counsel and head of decentralization at a16z

All this according to the model Creative Commons (CC) initiated two decades ago, with the aim of defining the very first free public licenses. The latter are currently used to protect more than two billion works around the world. And, as Miles Jennings explains, “levels of permissions granted by the original creators or copyright holders – whether for adaptations, derivatives, commercial use, etc. Features that the range of licenses can’t be evil tries to reproduce for the NFTs, within the framework of the emergence of the Web3. Because these innovations “test the limits of traditional legal frameworks”…

Can’t Be Evil – Harmonize ownership of NFTs

The purpose of this suite of licenses is to take into account the “new computing paradigm” imposed by blockchain technology and its principle of decentralization. A “new ‘trustless’ version of the Internet” that assumes that “thanks to code” no one can be truly malicious. Which is why – and maybe a little optimistically – it’s all called “Can’t Be Evil.” Because we must not forget that the a16z structure has often been singled out within DeFi for its excessive community weight in certain protocols supposed to be decentralized.

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The “Can’t Be Evil” licenses (…) transparently codify the rights of creators, buyers and sellers of NFTs so that each party has a common understanding of the rights associated with their ownership. (…) Projects using “Can’t Be Evil” licenses can make NFT ecosystems more trustworthy, providing licensees with a minimum baseline of standard real values, thereby harmonizing real-world ownership with on-chain ownership.. »

Miles Jennings

Can’t Be Evil – 6 different license types

However, this initiative is based on the implementation of 6 different licenses. These are distributed according to the desire to claim specific rights:

– Exclusive commercial rights,
– Non-exclusive commercial rights
– Non-exclusive commercial rights and termination for hate speech
– Personal use license
– Personal Use License with Hate Speech Termination
– CCO 1.0 Universal

These six licenses are available on the site crypto GitHub a16z. And an legal introduction (PDF) is also provided by the a16z structure in order to understand its intricacies and make the right choice. These are placed under the Creative Common principle, “so that the community can use, fork, iterate and improve the licenses with the greatest possible freedom”. Because, as Miles Jennings recognizes, there is no doubt that all of this will evolve (very) quickly.

The cryptocurrency market is full of exciting initiatives and unparalleled opportunities. Reason why the FTX platform is obvious, in order to enter this digital adventure in complete safety. This while benefiting from a lifetime reduction on your trading fees (commercial link).



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Can’t Be Evil – NFT Licenses To Simplify Their Legal Status – CryptoActu


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