Why NFTs do NOT grant ownership rights to holders

Why NFTs do NOT grant ownership rights to holders

An NFT is a receipt of ownership that the buyer receives for unique art or concepts. HoweverTo preserve the rarity of the work, it is often necessary that the original creator retains a stake.


A recent report revealed that owners of non-fungible tokens (NFTs), have zero intellectual property ownership over their content. Galaxy Digital Research. This Hit NFT Hard-core enthusiasts who own them or want to buy them

Only According to the report, one NFT collection was among the 25 largest platforms by market capitalization and attempted to grant intellectual rights to digital artists buyers.

According The report states that NFT operators appear to have misled NFT purchasers about the extent of their rights. This has drawn some criticism from the buyers. HoweverNFT players are now in defense.

The The question of ownership is both intellectually and actually more complicated than when discussing an NFT, they stated.

An NFT is a receipt of ownership that the buyer receives for unique art or concepts. HoweverTo preserve the rarity of the work, it is often necessary that the original creator retains a stake.

The basic definition of NFTs includes ownership based upon smart contracts written on a Blockchain. Any A digital asset purchased as an NFT grants the owner all rights to the blockchain NFT. Arijit Mukherjee, Founder, Yunometa.

“While content creators and digital artists have made millions of dollars on their sales, NFTs can sometimes have ownership clashes with popular culture and art forms,” He concluded.

The Report stated that the vast vision of the NFT token holders is not possible without improving the on-chain representation of NFT issuers and the transfer of intellectual property rights between NFT token holders and NFT token owners. Web3 will not be released.

The Report analysed the major NFT projects like the Yuga Labs Projekt Bored Ape Yacht Club (BAYC), Gary Vaynerchuk’s VeeFriends, World This is WomenSocial media platforms Decentraland And Sandbox.

Kameshwaran Elangovan, Co-Founder & COO, GuardianLinkAccording to, there are many shortcomings that technology transformations must overcome in their adolescence.

We We should not focus on isolated areas of transformation but instead look at the whole spectrum of transformation.

Buying Sometimes buyers may feel that they have been cheated if they buy NFTs without first checking with the previous owner. Mukherjee Starting at Yunometa said.

NFT holders must fight for IP rights. Although the industry is still very young, there is not a lot of regulation that could provide any relief in the midst of increasing adoption.

HoweverOne should be aware that NFTs cannot represent ownership or possession of the token. The The purchase of an art object or object as an NFT does NOT grant the purchaser ownership of that item.

The When it comes to NFTs, the most common claim is misleading, but also very close to being correct. Vijay Pravin Maharajan, Founder & CEO of bitsCrunch.

“Crypto-enthusiasts commonly claim that NFTs are essentially unique and exist on a blockchain,” He added. The digital asset is owned by the user who purchased it. There There is only one token of this type and its users have it in a crypto wallet. It signifies ownership.

Owning An NFT does NOT convey ownership of assets’ storage, copyright or usage rights. NFTs typically provide links to assets hosted at a different location. Rights NFT ownership has many advantages that should be made clear.

Why NFTs do NOT grant ownership rights to holders