– BKopy allows creators, aggregators and marketplaces to legally enforce NFT copyright with chain contracts –
– The solution addresses the concerns of NFT creators by ensuring legal accountability for royalties –
NEW YORK, 27 February 2023 /PRNewswire/ — BCopy.iothe new, NFT-focused smart contract service, today announced its first commercial use in Sotheby’s Metaverse sale of “Infocalypse“on February 27an NFT project marking the 30th anniversary of the release of “Snow Crash,” created in collaboration between “metaverse” coiner and #1 New York Times best-selling sci-fi novelist Neal Stephensonartist Tony Sheeder and software developer Sterling Crispin.
BKopy is an ownership protocol that guarantees an NFT owner’s legal rights to use and display copyrighted work by embedding legally binding on-chain digital signatures in an NFT transaction. This innovation bridges the gap between blockchain, intellectual property and contract law.
“It is an honor to restore confidence in NFTs as a sign of ownership of art, beginning with futurist Neal Stephenson,” so Josh Kramer, Founder and CEO, BKopy. “With BKopy, creators, collectors and marketplaces can now rest assured that their NFTs are protected by legally binding, on-chain contracts.”
“The NFT boom has excited artists and buyers alike. But there is room for improvement as the current system leaves artists vulnerable to exploitation by players who ignore the terms of ‘contracts,'” said Neal Stephenson. “BKopy gives artists and collectors the same protections they take for granted in the world of physical art, and I’m excited to be an early adopter.”
Through the web and BKopy’s APIs, developers and creators can incorporate legal agreements into their own NFT smart contracts, benefiting all parties involved by:
- Enables creators to publish NFT smart contracts with defined usage rights and legally binding royalty obligations, regardless of where the NFTs are subsequently sold;
- To provide collectors with legal guarantees regarding the critical aspects that contribute to the value of collected artworks: provenance, rarity and authenticity, as well as continued access to the underlying artwork and display rights;
- Giving marketplaces an improved “sign of ownership”, leading to increased customer trust and reduced reputational risk.
For more information, visit www.BCopy.io.
About BKopy
Building a bridge between blockchain and contract law, BCopy is an ownership protocol solution that enables the integration of permanent, template-based legal documents with digital signatures into on-chain NFT transactions.
See original content: https://www.prnewswire.com/news-releases/nft-copyright-protocol-bkopy-partners-with-novelist-neal-stephenson-for-sothebys-metaverse-sale-301756053.html
SOURCE BCopy
