NFTs aren’t copyrighted. They didn’t go through the basic requirements of copyrights. Under intellectual property law, they show the data that constitutes the ownership of an artwork on the blockchain. When we create NFTs, we have to mint the artwork into digital form. We know minting tokenizes the artwork and publishes it in the NFT marketplace. The ownership of the NFT lies with the one who mints it. So, the owner of NFT is not necessarily the artist of work. Minting of NFT of works which other artists have the rights over will basically add up to taking of the works and will be viewed as an encroachment of copyright.
However, the art we mint will be protected by copyrights. so that we should not mint NFTs unless we create them. Let’s see what an artist should know before creating NFTs.
Things We Should Know Before Minting
Is the artwork you want to mint original, unique, and, most importantly, created by you? – because non-original art is considered to be stealing from others and leads to copyright infringement. When we collaborate with other artists, we should get authorization before minting. Unless the art is considered to be in the public domain, we should not incorporate other people’s works under intellectual property law. Legally speaking, a creative work is not the same as a copy. However, getting permission from the artist is always better.
Conclusion
There is no specific law to regulate the NFT marketplace. So, there exists a lot of uncertainty with regard to the rights enjoyed by NFT owners and the extent to which they can exploit the NFT that they purchase. Also, the terms and conditions are established to ensure that the terms of NFT and their uses are clearly defined so that NFT does not lead to any copyright infringement.
