- Back in October 2021, we reported how Reese Witherspoon purchased an NFT from the World of Women collection created by Yam Karkai.
- Since then, the average sales price has hovered around 2 ETH.
- But starting in 2022, the World of Women NFTs have been on a tear. This week, the average price hit above 9 ETH! The floor price right now is around 8 ETH.
- Sales volume in the past 7 days even surpassed the Mutant Ape Yacht Club!
- You can find the collection on Open Sea – click here.
- Full commercialization and IP rights to NFT owners: One of the issues we’re tracking is the content licenses for NFTs. The World of Women owners get full commercialization rights.
- The content license assigns the exclusive IP rights to the NFT owners:
- “In consideration of the Purchase Price, as defined hereinafter, and subject to the Primary Owner continued compliance with the terms of this Agreement and applicable laws, the Creator hereby assign as of the Effective Date to the Primary Owner, on an exclusive basis, for the legal duration of the intellectual property rights and for the whole world, all exploitation, reproduction, representation and adaptation rights relating to the Art attached to the Purchased NFT to which this Agreement is linked.”
- “It is specified that the rights of reproduction, representation and adaptation are granted to the Primary Owner for all modes of exploitation, including commercial ones, and on all medium and/or media (including but not limited to, digital media, physical media, paper editions, optical discs, storage media, multimedia, etc.), using all formats (including but not limited to, still images, animated sequences, etc.) and by all technical processes known to date or to come (including but not limited to digitalisation and computer storage, downloading, all computerised means or electronic communication networks, etc.), …
- “(iv) the right to integrate all or part of the Art into another work and create derivative work thereof, and the right to affix any trademarks, logos and/or text, including advertising, with respect to the provisions set forth in Articles 6 and 7; … “
WOW!!: The World of Women license is broader than even the Bored Ape Yacht Club (BAYC) license, which grants unlimited commercialization rights to Bored Ape owners without assigning the IP rights. The WOW license does a complete assignment of IP rights.
These licenses are a form of Decentralized Collaboration. For more on this topic, I’ve analyzed the Bored Ape license in this article — click here. Let critics say what they will about NFTs. But I think Decentralized Collaboration is one of the most important developments in the evolution of the Internet. There’s a reason why a lot of smart, talented people are working to build Web3. Decentralized Collaboration will be a central part of it, pun intended.
UPDATED Jan. 14, 2022: We need to clarify one thing about the comparison between WOW and BAYC. The BAYC model, in which BAYC retains the IP rights to Bored Apes, could be advantageous to all NFT owners. Still retaining IP rights over Bored Apes enables them to strike the deals with Adidas and potentially others, while allowing the NFT owners to do their own commercialization and derivative works. In the end, the BAYC approach could be advantageous when the creator is in a position to seek out big deals.