The Moonbirds Non-Fungible Token (NFT) collection has backtracked on its allowance regarding copyright permission. This major shift in copyright ownership demands comes months after its acquisition by Yuga Labs.
Why The Moonbirds NFT Policy Change?
With the acquisition comes a major change in general oversight. With the new copyright policy change, Moonbirds now requires anyone who plan to commercialize the digital collectibles to get permission from the NFT holders.
Back in 2022, the platform granted leniency as it said the collection is part of the public domain. It pitched this position as part of the Creative Commons CC0 copyright code. This latest change generally empowers the Moonbirds NFT holders, setting the stage for potentially new monetization schemes.
“Starting today, Moonbirds will join Mythics as a collection with commercial rights,” according to the post. “If you’ve made stuff during the CC0 era, cool. But from now on, you’ll need to own a Moonbird to keep doing so.”
As part of the broader Yuga Labs NFT empire, the priority now hinges on a creativity boost. With other names including Bored Apes Yacht Club (BAYC) and CryptoPunks tagged in the collection. Moonbirds will now prominently feature in the Yuga Labs’ Otherside metaverse project.
Shifting Business Landscape
Although the market’s focus is on sectors like spot Bitcoin ETF, NFTs also occupy a unique aspect of the industry. The dwindling hype around NFTs in general has forced Yuga Labs to restructure its business. Staff layoff is part of the changes it announced recently.
The shifting NFT business landscape has also slowed down the talks regarding a prospective OpenSea Initial Public Offering (IPO). OpenSea is the biggest NFT trading marketplace in the industry. However, the emergence of decentralized alternatives like LooksRare and SuperRare has helped stumped its dominance overall.
In a bid to revive its luster, Moonbirds has promised innovations like “3D Avatars built for animation.”
But the Moonbirds Universe doesn’t stop at the screen. IRL and physicals will bring the brand to life.
Look out for dedicated events to bring Moonbirds together, including a satellite event next to Apefest 2024 in Lisbon this October.
We’re also working on partnerships for…
— Moonbirds (@moonbirds) April 29, 2024
