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Andreessen Horowitz (A16z) announced on Wednesday that it has established a set of six licenses tailored to non fungible tokens (NFTs) based on the Creative Commons concept.Like Creative Commons licenses, there is a range of rights accessible through a number of proposed NFT licenses labeled ‘Can’t Be Evil licenses.’In a blog post, A16z general counsel Miles Jennings and general partner Chris Dixon noted that, while some<a href="https://www.coingabbar.com/en/crypto-dictionary/non-fungible-tokens-nft" rel="noopener noreferrer nofollow"> NFT</a> developers utilize Creative Commons licenses and others tailor their terms, many NFT projects have no licenses or poorly designed licenses, resulting in copyright and other legal difficulties. They said that most NFT customers have no understanding of what rights they obtain with their NFTs.The new set of licenses aims to do the following:<ul><li>To assist NFT creators in protecting (or releasing) their intellectual property (IP) rights.</li><li>To provide NFT holders with a foundation of rights that are irreversible, enforceable, and easy to comprehend.</li><li>To offer creators, holders, and their communities a comprehensive grasp of the IP framework in which they may operate in order to help them unlock the creative and economic potential of their creations.</li></ul>The licenses also attempt to hold authors accountable for the unauthorized use of third-party material.The licenses are revocable and amendable. They grant various rights in five categories: copy, display, and distribute, hate speech revocation, commercial use, modify and adapt, and sublicense. They are accessible on the a16z crypto GitHub as smart contracts under the most liberal Creative Commons license.The widespread lack of clarity on<a href="https://www.coingabbar.com/en/crypto-currency-news-english/famous-watchmaker-jacob-co-unveil-btc-themed-luxury-watch" rel="noopener noreferrer nofollow"> NFT ownership</a> rights has resulted in dissatisfied buyers and has threatened to unleash “a flood of lawsuits.” The scenario has piqued the interest of the US Congress. In June, two senators requested the United States Patent and Trademark Office and the United States Copyright Office to conduct a study on the challenges surrounding NFT intellectual property rights.Read also:<a href="https://www.coingabbar.com/en/crypto-news/xbox-head-phil-spencer-skeptical-metaverse-criticizes-play-earn-models-2" rel="noopener noreferrer nofollow"> Xbox Head Phil Spencer Skeptical About Metaverse</a>

A16z Proposes a Set of Licenses Specifically Tailored for NFTs, Based on the Creative Commons Model

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