NFT ownership and and who truly own an NFT

​​🌟For today (15/04/24) topic for writing is NFT ownership and and who truly own an NFT.

💡NFTs have emerged as a new way of collecting. Artists have accused NFT creators of stealing their artwork and minting it as NFTs without permission. NFT marketplaces have been criticized for not doing enough to prevent copyright infringement. Questions  arise about who owns the copyright to an NFT.

Arguments for the Creator believe that the creator of an NFT holds the original copyright and intellectual property rights to the underlying artwork. The creator has the right to mint and sell the NFT, and to determine its initial value and distribution. The creator may also retain certain rights, such as the right to reproduce or modify the artwork, even after the NFT is sold.

On the other hand, Arguments for the Collector believe that the collector who purchases an NFT becomes the owner of the unique digital asset and its associated meta data.  The collector spend money to acquire these NFTs and it is assumed that the ownership right should be transfered to him. He should have the right to display, sell, or trade the NFT as they wish or even use the artwork for personal or commercial purposes.

On the contrary, there are arguments that both Creator and Collector should own equal ownership right to NFT and NFTs should be structured to allow for shared ownership between the creator and collector. The creator may retain certain rights, such as royalties on future sales, while the collector owns the physical or digital representation of the artwork. So some questions for all of you guys is:

❔Based on your assement, Who truly owns an NFT? The creator, the collector or both?

💬 Share your thoughts and let's interact.👥