Owning a Subtle Art NFT
Last updated on Invalid Date
What does it mean to Own a Subtle Art NFT?
It means 4 things…
1) It means the right to collect & display. // I’m assigning a new class of ownership to my work — a tokenized collectors license. Technically owning a piece of Subtle Art means that you own a cryptographic token representing the relevant portion of the text. Collectors have the right to display & trade the BookCoin Item, but do not have any legal ownership of the copyrights, trademarks, or other intellectual property rights. (Learn more below)
2) It means creative commons rights. Please make yourself familiar with the specific license and guidelines here.
3) It means the right to trade. // This token gives you the 1/1 exclusive collectors rights to this piece of my work to benefit from the overall supply and demand of the collection as you see fit.
4) It means exclusive access. // The unreleased chapter of the book can only be accessed by having the token in your wallet inside of BookCoin’s private reading environment. You'll also have exclusive access to my launchpad community for all future web3 projects I do.
What it DOES NOT mean: Copyright Ownership.
NFT Ownership ≠ Copyright Ownership
Unless specifically negotiated and arranged between Author and purchaser, under no circumstances will the copyright of any Work be transferred with that Work as part of the transaction. Copyright ownership will remain with the Author and any other rights holders. As mentioned elsewhere in this License, you own a representation of the copyrighted Work and the ability to display and trade it, but you do not own the copyright in the underlying Work whether that be written text, images, audio, audiovisual representations, or anything else. (See all terms of the Collectors license below)
Per the Terms of Service on BookCoin.com...
Ownership: BookCoin Collectors Limited License
All Collectibles purchased on and distributed through the Platform are subject to the BookCoin Limited License, the terms of which are described below. All Users who receive a BookCoin Item acknowledge and agree to accept or purchase the Item subject to the conditions of the Limited License, and must accept this Limited License prior to purchasing a BookCoin Item.
Ownership of a BookCoin Item.
“Owning” a BookCoin Item means that you own a cryptographic token representing the Author’s creative Work or Works as a piece of property, but you do not own the creative Work itself.
Collectors have the right to display & trade the BookCoin Item, but do not have any legal ownership, right, or title to any copyrights, trademarks, or other intellectual property rights to the underlying Creative Works, excepting those granted in this Limited License.
The Author reserves all exclusive copyrights to Works underlying BookCoin Items created or distributed by the Author on the Platform, including but not limited to the right to reproduce, to prepare derivative works, to display, to perform, and to distribute the Items.
The Collector’s Limited License to Minted Artwork
Collectors of a BookCoin Item Artwork are encouraged to show off, promote, and share their collected Items, but the Collectors may not infringe on any of the exclusive rights of the copyright holder (i.e., the Author). By Minting Items on the Platform, Author affirmatively grants a limited, worldwide, non-assignable, non-sublicensable, royalty-free license to display the Artwork underlying BookCoin Items legally owned and properly obtained by the Collector.
NFT Ownership ≠ Copyright Ownership
Unless specifically negotiated and arranged between Author and purchaser, under no circumstances will the copyright of any Work be transferred with that Work as part of the transaction. Copyright ownership will remain with the Author and any other rights holders. As mentioned elsewhere in this License, you own a representation of the copyrighted Work and the ability to display and trade it, but you do not own the copyright in the underlying Work whether that be written text, images, audio, audiovisual representations, or anything else.
Collectors May Display the Artwork.
The Collector’s limited license to display the Artwork, or perform the Work in the case of audiovisual works, includes, but is not limited to, the right to display or perform the Work privately or publicly: (i) for the purpose of promoting or sharing the Collector’s purchase, ownership, or interest in the Work, for example, on social media platforms, blogs, digital galleries, or other Internet-based media platforms; (ii) for the purpose of sharing, promoting, discussing, or commenting on the Work; (iii) on third party Marketplaces, exchanges, Platforms, or applications in association with an offer to sell, or trade, the NFT associated with Work; and (iv) within decentralized virtual environments, virtual worlds, virtual galleries, virtual museums, or other navigable and perceivable virtual environments, including simultaneous display of multiple copies of the Work within one or more virtual environments.
Collectors Shall Not Make Commercial Use of Artwork.
Collectors have the right to sell, trade, transfer, or use their BookCoin™ Items, but unless specifically awarded by the author, Collectors may not make “commercial use” of the underlying Work including, for example, by selling copies of Work, selling access to the Work, selling derivative works embodying the Work, charging a fee to the public or to private individuals to view or listen to the Work, or otherwise commercially exploiting the Work.
Other Restrictions on the Collector’s Limited License.
The Collector agrees that it may not, nor permit any third party, to do or attempt to do any of the foregoing without the Author’s express prior written consent in each case: (i) modify, distort, mutilate, or perform any other modification to the Work which would be prejudicial to the Author’s honor or reputation; (ii) use the Work to advertise, market, or sell any third party product or service; (iii) use the Work in connection with images, videos, or other forms of media that depict hatred, intolerance, violence, cruelty, or anything else that could reasonably be found to constitute hate speech or otherwise infringe upon the rights of others; (iv) incorporate the Work in movies, videos, video games, or any other forms of media for a commercial purpose, except to the limited extent that such use is expressly permitted by these Terms or solely for aCollector’s personal, non-commercial use; (v) sell, distribute for commercial gain, or otherwise commercialize merchandise that includes, contains, or consists of the Work; (vi) attempt to trademark, copyright, or otherwise acquire additional intellectual property rights in or to the Work; (vii) attempt to Mint, tokenize, or create an additional cryptographic token representing the same Work, whether on or off of the BookCoin Platform; (viii) falsify, misrepresent, or conceal the authorship of the Work or the BookCoin Item; or (ix) otherwise utilize the Work for the Collector’s or any third party’s commercial benefit.
The Limited License Belongs Only to the Current Owner of a BookCoin Item
The User agrees and acknowledges that the lawful ownership, possession, and title to a BookCoin Item is a necessary and sufficient condition precedent to receive the limited license rights to the underlying Work provided by these Terms. Any subsequent transfer, dispossession, burning, or other relinquishment of a BookCoin Item will immediately terminate the former Owner’s rights and interest in the license or BookCoin Item as provided by these Terms.