NFTMagic Now Allows Digital Artists to Attach Licenses to Their Content: Details

AnalysisNFTMagic Now Allows Digital Artists to Attach Licenses to...



Vladislav Sopov

NFTMagic is going to change the narrative in copyright protection in NFT segment

Contents

NFTMagic is a new-gen digital collectibles marketplace focused on lowering the barriers to NFT minting and trading. It leverages Ardor, a high-performance smart contracts platform, for cost-efficient token creation and transfers.

New method for commercial usage of NFTs

NFTMagic marketplace for non-fungible tokens introduced a number of cutting-edge concepts for the Web3 world. Most importantly, it allows users to attach licenses to every NFT minted.

None of the heavyweight marketplaces—OpenSea, Rarible, Mintable.app—currently has similar functionality. At the same time, it is crucial for the commercial use of NFTs.

The Creative Commons license allows all Internet users to spread and publish this or that content without authorization from creators; it is attached to Wikipedia articles, for instance.

Customized licenses, by contrast, should be attached to items that are intended to be used commercially. It unlocks a plethora of new opportunities for creators, buyers and commissioners.

Empowering NFTs space with Ardor: What is NFTMagic?

The process of licensing is seamless: every trader can attach various labels to their holdings: from “only trade and sell, artwork for personal purposes” to “commercial use of the artwork and alterations are allowed” and “transfer of copyright included.”

The owners of NFTs can upgrade the licensing status of their artwork even after the token sale takes place. The license cannot be downgraded.

NFTMagic marketplace is the most popular digital art marketplace on Ardor, a highly scalable Pure Proof-of-Stake blockchain with unmatched levels of decentralization and extremely low fees.



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