The Cardano founder had come under fire from some NFT enthusiasts after using someone else’s NFT as his Twitter and Facebook profile picture.
Charles Hoskinson, the founder of Cardano, has responded to critics who reprimanded him for putting someone else’s NFT on his Twitter and Facebook display pictures. Blakelock Brown, co-founder and CEO of Cardano’s largest NFT marketplace JPG Store noted that Hoskinson should have properly purchased the NFT.
After acknowledging Hoskinson’s efforts at Cardano development and paying his respects to the American entrepreneur, Brown mentioned that Hoskinson should buy any other NFT he wishes to use as a PFP next time. Brown said that this is a way to support the artists.
Hoskinson responded by saying that he doesn’t believe it necessary to buy the NFT. He also expressed concern about the lack of clarity regarding the rights of NFT owners.
“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 said in a tweet today.
Buy an NFT? I am not purchasing the IP and I have not signed a contract granting me royalties-free use of the IP. Blake doesn’t seem to understand my larger point about the contractual rights and relationships of the purchaser. An NFT is NOT the image anymore than a lithograph is a painting https://t.co/VAzyvezCtx
— Charles Hoskinson (@IOHK_Charles) January 4, 2023
Responding to Hoskinson’s tweet, Brown cheekily Frequently Asked Questions If the Cardano founder is willing to pay the artist next year, it would assume that the IP rights to the image and metadata are included in the metadata. He noted that he’s willing to do that if it is what it takes.
Is IP rights transferred to the buyer of an NFT?
Hoskinson’s recent comments mirror his previous remarks on the matter in the wake of the criticisms. Hoskinson noted that the Intellectual Property Rights (IP) to the image do not transfer to the buyer at the time of purchase. He said that even though the NFT was sold to the buyer, the IP rights remain with the artist who created it.
“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 blockchain,” Hoskinson stated in a live broadcast Broadcast yesterday.
He mentioned that he occasionally makes these moves in order to expose the artists. Jar Head Studio has created the NFT, an artistic representation Hoskinson. Yesterday, the NFT was sold for 10,000 ADA.
Todd Benn is a fundamental analyst who is also the owner of NFT. revealed He said that he doesn’t mind Hoskinson using the image for his PFP. Benn has vehemently made arguments defending Hoskinson’s action. Charles Hoskinson’s claims resurrected an age-old debate on the rights transferred to the purchaser of an NFT. In a previous article, the Crypto Basic highlighted this issue. Report Last year.