Meme creators will make NFTs. Memers become millionaires.
Under U.S. law, as soon as a work of art in any medium is created, the creator owns the copyright in that work. […] When we talk about “copyright”, we’re really talking about multiple rights (sometimes called a “basket of rights”). These include the right to control who makes copies of the original work […]
Typically, when someone buys a work of physical art, they are only purchasing the physical object. They are not purchasing the copyright in the work. […]
So if you own an original oil painting, you can display it in your home or wherever you want, and you can sell or loan the painting to someone, but you can’t make copies of it, sell prints, or make new works based on the original. […]
if you buy an NFT, my presumption is that you are only buying ownership in the NFT itself. You are not buying the copyright, unless there is a written contract […]
if I buy an NFT, and then I post it to Instagram with the message “Check out this cool NFT that I just bought!”, that’s creating many more digital copies. But this is true for all kinds of visual art these days, and the artist is free to go to Instagram and file a copyright takedown notice, requesting that the post be removed.
image + header { The meme economy }
