Animoca Brands to Introduce NFT License to Ensure Royalties Enforceable

Yat Siu, chairman of Animoca Brands, announced that the firm is introducing a new set of NFT licenses, which aim to create a legal framework ensuring that NFT royalties are enforceable.

The licenses require the payment of creator royalties as a condition for receiving licenses to NFTs art and utility. These licenses will enable the NFT creator to remove utility from any NFT that is transacted without royalties and seek legal redress if third parties or marketplaces attempt or enable the circumvention of creator royalties required by the licenses.

Marketplaces will become legally liable for unpaid royalties. Each sale with unpaid royalties will accrue a liability that can then be legally enforced.

Source

NFT

Animoca Brands

Marketplace

Related News
Sony’s Soneium debuts its first music NFT collection with crypto record label Sony’s Soneium debuts its first music NFT collection with crypto record label
Arbitrum, Azuki-backed Animecoin unveils tokenomics with over 50% community allocation Arbitrum, Azuki-backed Animecoin unveils tokenomics with over 50% community allocation
XRP becomes world's third-largest crypto, overtakes Tether’s USDT in market cap XRP becomes world's third-largest crypto, overtakes Tether’s USDT in market cap
Trump’s fourth NFT collection logs sales over $2 million, not tradable on secondary markets until 2025 Trump’s fourth NFT collection logs sales over $2 million, not tradable on secondary markets until 2025
Trump Says He’ll Release Fourth NFT Collection: 'The People Want Me to Do Another One' Trump Says He’ll Release Fourth NFT Collection: 'The People Want Me to Do Another One'
Latest News More More
1 Day Ago 0xbow unveils ‘Privacy Pools,’ a new blockchain privacy tool drawing from Vitalik Buterin’s research
6 Days Ago Ethereum edges closer to deploying Pectra on mainnet with successful upgrade on Hoodi testnet
6 Days Ago MEXC Extends DEX+ Platform to Binance Smart Chain Users
March 25 Binance suspends employee for allegedly profiting off of insider information
March 25 BlackRock launches bitcoin ETP in Europe following US success
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open