Copyright and creating NFTs: Key aspects to consider
What to Consider When Creating NFTs?
Using blockchain technology opens up new possibilities for artists and creators, but it also comes with a set of legal issues, especially concerning copyright. Remember that before minting a work as an NFT, it is essential to thoroughly analyze the copyright-related matters.
Copyright Law in the USA
From the moment an original work is published, it automatically falls under copyright protection in the United States. Even non-commercial works can be subject to these rights, meaning that even if you do not intend to profit from the work, it may still be protected.
Understanding “Fair Use”
There is a concept called “Fair Use,” which determines the permissible use of a copyrighted work for purposes such as criticism, commentary, teaching, research, or news reporting. However, it is important to note that using someone else’s work for commercial purposes, even if transactions are not in U.S. dollars, may be considered a commercial activity.
Key Issues in Identifying Infringements
In a legal dispute, it is crucial to consider whether your work competes with the original copyrighted piece. Transforming the original work in a way that adds a new characteristic or purpose may be deemed acceptable under “Fair Use.” It is also vital to consider the amount and substantiality of the portion of the work used in relation to the whole and the impact of using the work on the market and value of the copyrighted work.
Safe Use of Resources
Utilizing resources available for free and in compliance with “Fair Use” principles is secure. For individuals seeking legal resources for creating NFTs, there are lists of sources offering free materials such as images, music, or videos. When in doubt, it is always advisable to consult with a lawyer specializing in copyright law who can help avoid potential legal risks.
Conclusion
Creating and minting NFTs involves various legal issues, especially concerning copyright. By ensuring compliance with regulations and “Fair Use” principles, one can avoid disputes and legal threats associated with using others’ works in blockchain-based projects. When in doubt, consulting with an expert in copyright law is always a prudent course of action.
