SNEAK PEEK
- Andreessen Horowitz has announced “Can’t Be Evil” licenses to be used by NFT projects.
- The licenses are free and have been made with the help of Punk6529 as well as others.
- NFT buyers can rest assured about the offered terms being in effect after a license gets deployed.
The VC firm has announced the launch of “Can’t Be Evil” NFT licensing terms that can be used for free by project creators. A number of approaches are offered by the licenses that vary from personal use terms to licenses that allow people to utilize the artwork for any reason whether they own an NFT or not.
These licenses have been influenced by and are similar to the ones that are offered by Creative Commons. However, according to the company’s General, Miles Jennings and Chris Dixon, the licenses have been utilized to discard confusion about IP rights grants, ambiguity and future legal issues.
Besides having fingers in a number of Web3 pies, Andreessen Horowitz has invested in NFT creators such as Gary Vaynerchuk’s VeeFriends project, BAYC creator Yuga Labs And Kevin Rose’s Proof (Moonbirds). Moreover, it has invested in OpenSea and other crypto projects.
The concept of a VC firm regarding NFT licensing terms may not go well with some; however, Andreessen Horowitz tapped Punk6529 to shape the licenses. Furthermore, it has experience with Latham & Watkins LLP and DLA Piper and certain portfolio companies.
Though the “Can’t Be Evil” branding has been inspired by the “Don’t Be Evil” mantra, it has been modified with an intent to reflect the immutability of blockchain networks.
The authors wrote that since the licenses can be incorporated easily, it is expected to democratize access to high-quality licenses. With more and more adoption, impeccable benefits are guaranteed to owners, creators and the overall NFT ecosystem.
According to a research report from Galaxy Digital, almost all major NFT projects do not offer IP rights to owners. Also, certain projects have misled buyers when it comes to the rights they own upon buying an NFT.
Previously, Today NFT News reported, Gary Vaynerchuk’s NFT project gets $50M Seed Round by A16z.
