The humor of Seth Green's Bored Ape fiasco has given way to renewed conversations around the incredibly nebulous legal interpretations surrounding NFT ownership, consumer protections within web3 markets and the ever-present topic of copyright.
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But the humor of the situation has given way to renewed conversations around the incredibly nebulous legal interpretations surrounding NFT ownership, consumer protections within web3 markets and the ever-present topic of copyright.about making “precedent setting debates on IP ownership & exploitation” in regards to NFTs — clear hints that he was ready to take the issue to court.
Just to be clear, Green is patently wrong, and it’s mainly due to the very system he’s become enamored with. The majority of NFT projects do not relinquish copyright of the sold token to the buyer, but rather grant the buyer the ability to license and exploit their token to varying degrees. The Bored Ape Yacht Club is no different, hence why Green would be able to make derivative works, such as an uninspired rom-com whose only selling point is that the NFTs are in the real world .
This whole situation is obviously frustrating for Green, as it would be for anyone. It was enough for him toat VeeCon last month. But this whole situation is just another installment in how those deeply invested in making these turbulent marketplaces the next big thing don’t fully understand the beast their promoting.
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