Thread by @ijhammer

1/ There are new developments at the crossroads btwn #NFTs and #IP every day!

Last week it was @moonbirds' #CC0 debacle, before that it was @yugalabs v @ryderripps.

Now, one of the most creative teams in the space is finally doing something to drive change and innovation in IP.

2/ That’s right. I’m talking about the OG #solana legends @Frankdegods, @Taylordegods, and the @DeGodsNFT team.

3/ Last week they dropped their first tweet on @y00tsNFT – the new spin-off of the much-awaited Duppies project they were working on.

4/ Well, WTF is Y00ts? Why do I care, and why should you too? 👇

As a lawyer passionate about #intellectualproperty ownership rights in the NFT space, Y00ts is one of the few projects to think about IP rights and ownership outside the box.

They’ve introduced, a new concept: ⓨ

5/ According to the whitepaper, it’s a new way of registering 'copyright' - with an NFT collection acting as the registrar over theirown IP - offering an alternative to the somewhat limited IP licensing models currently being offered...
y00ts.com

6/ ...basically, either (i) CC0 (where the holders retain almost no copyrights and they are placed almost entirely in the public domain); (ii) some variation of commercial usage rights (like BAYC and others); or (iii) no rights at all.

7/ The y00ts team proposes that in their new copyright world order, each collection will have its own copyright registry, where it’ll be easy to grant and track approval for who has what rights to use their collection’s IP, with y00ts acting as the beta version for this model.

8/ The idea is for this to spark a more collaborative approach to the creation and distribution of derivative/fan art. It will also enable consumers to validate which derivatives were approved by the OG artists, assuming the correct usage of their ⓨ mark.

9/ Also, it will enable the OG artists to receive royalties from the approved derivative/fan art.

10/ In addition to this being an innovative way of re-thinking IP rights, it is also just original, which is so rare to see in the NFT industry these days, with everyone literally copying everyone else.

11/ I’m excited to watch how this develops and ultimately becomes a new standard in NFT creation, collaboration, and ownership.

12/ What are your thoughts?