What are CC0 NFTs
Why are CC0 NFTs necessary?
Digital technologies are actively developing, providing the world with new opportunities. The appearance of NFT has given new opportunities for digital assets, combining the field of art, collecting and modern technologies.
Therefore, it is not surprising that NFT has gained huge popularity among both creative people and collectors and investors, solving the problems of digital ownership and intellectual property.
However, in the field of NFT, opportunities also continue to expand. So a new class of NFTs and their supporters who believe in them appeared. It is called CC0 NFT.
What is CC0 NFT?
CC0 NFT is an open source software that is a base for developers.
As you know, NFTs are based on the intellectual property rights thanks to which their owners can receive a certain fee.
CC0 NFT expands the possibilities of using the ownership of an object by allowing creators, businesses and brands to use NFT artwork for a fee.
The term CC0 NFTs was inspired by the “Creative Commons Zero” licensing model.
Under this model, creators can relinquish their rights to their artwork, allowing other users to freely apply it to create more artwork, product, or brand in the basement of original NFT work.
The demand in CC0 NFT
CC0 NFT is similar to the open source movement in operating systems. So, Linux decided to open its operating systems for free use.
Similar to the Linux operating system, which has a market capitalization of $15.95 billion and supports more than 85% of smartphones, CC0 NFT collections expect to cover a huge base of projects, artwork and brands using their NFT artworks.
The history of CC0 NFT
One of the first major open source NFT projects using the CC0 model was the Nouns project. After it appeared new projects Moonbirds, Cryptoadz, Cryptoteddies and Loot, which also decided to follow the path of CC0.
This is how derivative NFT collections appeared, which drew inspiration from the original NFT collections, contributing to an increase in the popularity and brand awareness of the parent (original) NFT collection.
The problems of CC0 NFT
The CC0 approach has its shortcomings especially for NFT owners seeking to monetize their ownership of tokens. These problems are based on the novelty of the technology and the lack of legal regulation.
CC0 is publicly available and allows everybody to openly use the NFT and art brand. At the same time, the property rights are not definitively regulated.
So some NFT owners from top communities own tokens with the right to monetize them.
For now the issues of the scope of intellectual property rights and the distribution of intellectual property between the original NFT and the derivative NFT are not determined by the legislative framework, as well as the protection of these rights.
The CC0 approach has its pros and cons, as does the open source software approach. The issue of intellectual property and its distribution among developers remains unresolved.
However, the long-term benefits of creating a brand based on an open code are attractive both for the authors and for developers who use open source NFT.
The importance of CC0 NFT
CC0 approach allows the creators of NFT to transfer the development process of their creation to their community and beyond. This allows NFT creators to significantly expand and popularize the brand.
At the same time, it should be understood that no open source software project can scale without a powerful code base.
Also, CC0 NFT projects need a strong support community to spread information, be inspired by original token collections.
NFT has already been able to prove that brands and ideas can be monetized. However, relying on a small community to spread the brand is not productive.
As more and more models of collaborative creativity appear and new platforms for active promotion are created, the CC0 NFT concept is becoming increasingly popular.