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HomeCrypto NewsCharles Hoskinson Questions Need for More Clarity on NFT Buyer Rights

Charles Hoskinson Questions Need for More Clarity on NFT Buyer Rights

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The creator of Cardano, Charles Hoskinson, has reacted to those who chastised him for using someone else’s NFT on his display photos for Twitter and Facebook. Blakelock Brown, co-founder, and CEO of JPG Store, the largest NFT marketplace on Cardano, believes Hoskinson should have properly purchased the NFT.

Brown said that Hoskinson should purchase any other NFT he wants to use as a PFP the next time after recognizing the American businessman’s contributions to the development of Cardano and showing appreciation for him. According to Brown, doing this promotes the artists.

As a retort, Hoskinson stated that he does not believe it is necessary to buy the NFT, noting his worries about the need for more clarity regarding the rights of NFT holders.

“Buy an NFT? I’m not buying the IP nor am I signing a contract giving me royalty free use to display. I don’t think Blake is getting my broader point about the contractual relationships and rights of the purchaser,” he stated in a tweet today.

Read more:Charles Hoskinson Ranks As Top Crypto Influencer In Poll In 2022, Binance’s CZ Responds

In response to Hoskinson’s tweet, Brown sarcastically questioned If the IP rights to the image are contained in the metadata, will you be willing to compensate the artist next time? He said that if that’s what it takes, he’ll be ready to do it.

Does the buyer of an NFT receive IP rights?

Hoskinson made similar remarks about the issue in response to the criticisms. He stated that the buyer of an NFT does not immediately receive the Intellectual Property (IP) rights to the image. He claims that even if the NFT was sold to the buyer, the image’s creator still holds the IP rights.

“When you buy an NFT, it’s not really clear what you’re buying. You don’t necessarily own the intellectual property associated with the image of the NFT; you own a digitalized object that is embedded in the blockchain,” Hoskinson said in a live broadcast yesterday.

He stated that he occasionally does these things to promote the musicians. The NFT is an artistic representation of Hoskinson by Jar Head Studio. Yesterday, the NFT sold for 10,000 ADA.
The NFT’s self-declared owner and fundamental analyst, Todd Benn, has confirmed that he is okay with Hoskinson using the image as his PFP. Benn has fiercely argued in favor of Hoskinson’s choice of action. Charles Hoskinson’s claims revived the dispute over the rights granted to the buyer of an NFT.

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