Metaverse platforms must act now to offer different ownership vision to web2 giants
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Decentralised metaverses will be decentralised in name only if action is not taken to address digital property rights, according to a new Galaxy Digital report on non-fungible token (NFT) licenses.NFT token holders have commercial rights for other Yuga Labs collections such as the Bored Ape Yacht Club, however Otherdeeds do not grant these.
The report looked at metaverse licensing agreements for The Sandbox and Decentraland in order to understand how real-world copyright and trademarks are perceived in the metaverse landscape. It concluded that both do a “decent job” of attempting to assign ownership to their users for user-generated content, but in both cases the companies retain all intellectual property related to the sales of land parcels in their metaverses, merely assigning usage rights to NFT purchasers.
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