The decision helps answer a question often asked by novice cryptocurrency observers: What gives an NFT value? CryptoPunks and Meebits users now have something tangible backing their tokens, potential revenue streams to squeeze out of their digital art that go well beyond just using their JPEGs as a profile picture – with legalese backing them up, too.
NFT holders could develop related projects such as “TV shows, food trucks, clothing, and more – just like the Bored Ape Yacht Club community has been able to do,” Yuga said. “Snoop Dogg and Eminem's BAYC music video was nominated for a [video music award], a video they were able to make because of rights like these.”
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