X Marketplace Enables Free of Cost NFT IP Licensing
The X Marketplace will enable users to advertise NFT IP and license IP-based solutions at no cost. “IP rights are a significant component of the NFT value offer, but there are few opportunities to commercialize them. We are streamlining the processes of IP identification by incorporating an IP marketplace into our current platform” stated Bradley Zastrow, co-founder of X Marketplace.
The business declared that generating an IP listing is completely free and that a customer’s signature is the sole ownership proof need for the underpinning NFT. Users choose the NFT they desire to offer for IP licensing and provide further marketing details.
It is the initial platform to give collectors comprehensive leeway to a larger portion of the NFT market. Users may also handle their NFTs using the client portfolio handling and assessment tools already in place. The business stated it could also commercialize its NFT intellectual property and trade its NFTs inside a unified marketplace.
“The NFT market will consist of more than just purchasing and selling NFTs; NFT holders will have many options for monetizing their holdings. The debut of our IP marketplace has just begun; we are only getting started “explained Zastrow.
As per the firm, the first release would include support for relevant Yuga Labs, Azuki, CloneX, IlluminatiNFT, Finiliar, Stickmen Toys, and Swampverse series. The firm intends to add additional collections constantly and in response to community needs. IP-related NFTs have been advancing at a rapid rate.
As per a recent article by Blockchain.News, holders of CryptoPunk and Meebits non-fungible tokens may now develop business ventures and goods using their NFTs. The news follows the August 15 publication of Yuga Labs’ long-awaited IP license agreement for CryptoPunk and Meetbits NFT holders.
The latest IP license agreement has elevated these NFT owners to a comparable status as the Bored Ape Yacht Club’s IP rights owners since the pact grants them complete marketing rights to establish ventures and goods centered on their NFTs.
Certain Bored Ape Yacht Club owners have already utilized the intellectual property in ventures. Seth Green, an American actor, producer, writer, and director, is producing a program based on his just returned Ape, for example. He spent more than $300,000 to recover his misplaced bored ape avatar NFT.
In Los Angeles in June 2022, restaurateur Andy Nguyen also created Bored & Hungry, a restaurant with a Bored Ape motif.