A16z Crypto Launches ‘Can’t Be Evil’ NFT Licenses
The “Can’t Be Evil” NFT licenses from venture capital juggernaut Andreessen Horowitz (a16z) are intended to enable NFT producers and collectors to forego the legal knowledge necessary to plan what they want to do with their newly generated or acquired NFTs.
The new license terms from a16z, inspired by the Creative Commons licenses, are freely usable by any project creator and offer different approaches for NFT projects, from strict personal use restrictions to more open licenses that allow anyone to use the artwork for any purpose.
In addition to removing potential copyright errors that could result in legal consequences, this is done by a16z to make the NFT project’s copyright license more explicit.
The statement says that one of Web3’s guiding concepts is “Can’t Be Evil,” which is a play on Google’s slogan “Don’t Be Evil.”
The blog post noted: “While many NFT holders currently have to rely on creators and previous owners to make ‘non-evil’ decisions regarding their NFTs, projects using ‘Can’t Be Evil’ licenses could make NFT ecosystems more trustless, and provide holders with a minimum baseline of standard real-world rights, thereby harmonizing real-world ownership with on-chain ownership.”
The CBE NFT licenses serve three core purposes:
- Protect the creators’ IP.
- Provide NFT holders with a baseline of rights that are irrevocable, enforceable and easy to understand.
- Help creators and their communities unlock the financial potential of their projects.
a16z crypto hired pseudonymous crypto influencer ‘Punk6529’ to help define the licenses. In addition, it has partnered with unnamed portfolio companies as well as law firms Latham & Watkins LLP and DLA Piper to develop the license.
The six CBE licenses launched are also designed to be broadly applicable and provide users with a range of options. This should make it easier for artists, creators and others to participate in the NFT ecosystem.
A smart contract containing the CBE licenses has been distributed to Arweave so that developers can incorporate it directly into their NFT projects. They are also available on GitHub for download, use, forking, iteration and improvement.
This move by a16z came just two weeks after Galaxy Digital uncovered the truth behind the NFT IP rights of BAYC and Moonbirds. In the case study, Galaxy Digital called out the Proof Collective for Moonbird’s transition from a commercial use license to a Creative Commons license.
