Ownership
Last updated
Last updated
Baked into ownership of Cozies are commercial rights in line with a16z’s ‘Can’t Be Evil’ License. You can view the license in full here or see below for a summary of its key points:
A non-exclusive, perpetual, and irrevocable worldwide license under our copyright to use, distribute, reproduce, display, perform, modify, and create derivative works for your NFT media for personal and commercial uses.
Holders have the right to sublicense such rights through multiple tiers of sub-licensees.
The license is deployed in Arweave and incorporated into Cozies’ smart contract to ensure it remains wholly on-chain.
A trustless ecosystem where holders do not have to worry about other holders or the creators making ‘evil’ or ‘hateful’ decisions, with the right for termination of hate speech.
Foremost is that we agree in principle with a16z’s statement that NFTs require specifically designed licenses inspired by Creative Commons - i.e. licenses that will be fit for purpose long after a project has been minted. In particular, the goals of such a license are:
to help NFT creators protect (or release) their intellectual property (IP) rights;
to grant NFT holders a baseline of rights that are irrevocable, enforceable, and easy to understand;
to help creators, holders, and their communities unleash the creative and economic potential of their projects with a clear understanding of the IP framework in which they can work.
Many projects grant full Creative Commons licenses to their holders. However, we believe this creates unrealistic expectations for a project's holders to grow the brand and create valuable derivative works by themselves, independently, whilst engendering misaligned incentives for project creators who believe their part of the job is done upon minting and reveal. With Cozies, the creators actively support holders in their creative applications of the NFTs they own under this project, as opposed to a ‘set and forget’ approach.
Core to our values and mission is championing well-being, so retaining the right to terminate individual licensing agreements for hate speech or 'evil' decision-making ensures a trustless ecosystem with the core values permanently upheld.
a16z NFT licenses overview: https://a16zcrypto.com/introducing-nft-licenses/
