Everything you need to know about CC0 NFTs

In business, ownership and intellectual property is a complex subject. There are laws and regulations you need to follow, especially if you are planning to invest in crypto assets. To avoid conflict, it is best to research and understand how they work. 

In the case of NFTs, there are also copyright and ownership laws if you are looking to invest in digital assets. While the subject matter is definitely not one that you can easily breeze through, it’s at least a topic that’s interesting to learn about. 

What are CC0 NFTs and why are they important when you just delved into this digital asset? 

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What is CC0 NFT

CC0 NFT meaning stands for Creative Common Zero NFT which allows users to use a digital asset project’s intellectual property however they see fit. It also means that anyone can use it for trading or commercial applications without requiring any credit from the artists or companies who made them. 

The biggest benefit of this is that you can use your NFts commercially. They don’t need to give attribution to the original creator which means there will be little to no copyright infringement lawsuits of any kind. 

CC0 NFTs are also open-source properties which means that the first big concern users have with it is that this can grow scarce over time. But this isn’t entirely true because it does not hinder the rising value of NFTs. 

The fact that CC0 NFT is open-source provides developers the leeway to continuously improve on the system to allow users to have a better understanding of how copyright infringement works. Also, the open-source nature of it allows the community to engage with it easily which is a crucial aspect of the Web3 industry. 

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How does Creative Commons Zero NFT work?

The way it works is that a person called the affirmer will dedicate work to the domain by waiving all of his right and any related rights to the full extent of the law. There are also several different Creative Commons Zero license types that you can have. 

Examples of these are the Attribution (BY) CC0 which requires one to attribute a creator of the work to use it. Another would be the Share Alike (SA) which means that when you make an adaptation of a project that is licensed, it must be licensed under the same and compatible licence.  

Each licence gives several varying stages of privilege to the licensee and licensor. Depending on what the licensor wants their content to be distributed, they can pick which licences are appropriate for different NFT projects. These licences help enforce the right copyright regulations on NFT works and make it known what the owners intend with their own works. 

Importance and impact of CC0 NFT

Copyright issues are a huge problem for anyone who owns NFTs. Some would say that it’s too big of an issue to solve alone. This kind of licensing aims to solve all these issues that leads to a much more seamless and enjoyable experience for NFT owners. 

Another good reason why CC0 is paramount in the business is that new intellectual properties can be made and developed with the effort of every NFT owner in the community as they add value to their projects. The biggest draw of CC0 is being able to commercialise NFT projects to other people within the market. By having CC0 NFTs, the industry is actively creating a global marketplace of NFT projects ready to be sold to anyone who wishes to purchase them. 

Biggest advantages of CC0 NFTs

There are tons of big advantages to CC0 NFTs. Most of the benefits are copyright and value related which should have owners ecstatic for their great uses. Below are some of the greatest advantages to having CC0 NFTs: 

Increases the value of NFTs 

Once someone has exclusive rights to a particular digital asset, this increases the value significantly because it creates scarcity. More people will want to buy and outbid the others just to take hold of your exclusive CC0 NFT. 

Also, the awareness of what a CC0 licence can bring to an NFT will result in people wanting to associate themselves with the digital asset even more. By releasing this NFT to the market, the value is appraised significantly. 

Handling copyright issues 

The biggest benefit to CC0 NFTs is the fact that they can handle copyright infringement issues. This helps owners who want to commercialise their NFT projects have a more seamless experience selling their projects away. This makes anyone use the CC0-licensed content without them worrying about infringing on someone else’s copyright claims. 

It also lessens piracy which runs rampant in the NFT space. Piracy is a huge problem that mitigates in the long run for those who want to commercialise their projects. While this problem still exists today, CC0 NFTs are aiding in controlling the percentage of piracy which will be extremely beneficial for the market in general. 

Easily traced 

CC0 NFTs can easily be traced without any hard work put into it. When a CC0 NFT is owned, the public domain and blockchain will hold record of this which makes it easily traceable. This is helpful when the worst case scenario happens like having your NFTs hacked online. When this occurs, CC0 NFT’s innate traceability will make the process of recovering your stolen NFTs easier. 

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Examples of CC0 NFTs

To help you understand CC0 NFTs more, you need to look at a few examples of these that are popular in the market today. There are a few ones like Bitmaps and CrypToadz that come to mind. 

CrypToadz is a frog-themed NFT with a total of over 6,000 collectibles made by the artist Gremplin. CrypToadz began in the public domain with the CC0 NFT which was intriguing to a lot of people. Now, it’s starting to go with the more open-garden approach. 

On the other hand, Bitmap is another on-chain universe art NFT that is community-crafted. This means that going for the CC0 approach will make sense because holders will get access to a lot of great benefits like expansion packs to get the most value of this growing coin. 

The reason why you need to delineate between the two is the fact that not all NFTs are CC0s. Non-CC0 NFTs are projects that are not linked to any copyright licences. This means that only the owners can distribute their NFTs and commercialise them in the overall market. 

Notable CC0 projects

There are some CC0 NFT projects that have given its kind a great reputation among NFT owners. These projects are some of the largest and most successful CC0 projects in the world. These are: 

Nouns 

One of the first CC0 NFTs are Nouns launched by a popular group known as Nounders who collaborated with Budweiser that kickstarted the project. Right now, Nouns is among the top successful CC0 NFTs in the world that made over $100 million in revenue where ETH proceeds go to Nouns DAO. 

At first, Nouns was inspired by a Twitter post from an unknown founder, Punk4156. After people grew intrigued by the concept, the Twitter poster followed up with a series of retweets that outlined the foundation and framework of what is now known as Nouns. 

Right after, ten co-founders joined the fray including Dom Hofmann who was once the owner of popular social media site, Vine. They started working through a linked Discord and made the Decentralised Autonomous Organisation (DAO) by using Punk4156’s Twitter outline as the basis of the whole CC0 NFT. 

Mfers

Created by Sartoshi, the Mfers NFT started looking like a meme projected to a lot of people but has now garnered a lot of attention from people after it gained popularity recently. Alongside different CC0 NFTs, Sartoshi also turned over the control of the NFT to its own community.  

A lot of people would pay up to $40,000 and even more for this NFT. With this, some predict that Mfers will become the next big blue-chip digital asset in the NFT world. The reason for this is because Sartoshi did not make the community go through the conventional whitelist. Instead, it grew organically because of a collective shared interest among the community. 

Loot 

Now at the 1.6 ETH floor, the Loot project NFT has a couple items of clothing and weapons that can be used in a video game. This CC0 NFT provides quad rails for specific builders to utilise in other projects as well. 

Since it is CC0, it’s entirely permissionless and a few play-to-earn video games are built on this NFT to give users the choice of using their Loot for various features like in-game currencies. There are certainly a few imitations that came out in the recent years, but Loot boasts for being the first one of its kind to make this accessible to a lot of users. 

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Words: Vonn Consul