NFTs, Music & the Law
NFTs are a technological breakthrough that are both a great utility and a great new revenue stream for the music industry. But with new technology comes new legal hoops to jump through.
Whether you are a music business or a music creator yourself, you must be sure you take steps to ensure you have the agreements in place necessary to define the rights and obligations of everyone involved in an NFT Release. This can involve all of the following:
The rightsholders to the sound recording, composition and/or digital art being release in the NFT;
The parties entitled to royalties from the sale of the NFTs;
The business providing the service of selling NFTs on your behalf;
The NFT Marketplace itself (e.g. OpenSea or Rarible);
Each of these relationships has its own complications, but it is best to define everyone's rights prior to releasing your NFT.
To learn more about NFTs and NFT law, feel free to check out my seminar presented by Helping Our Music Evolve (HOME), or review my three articles in at the links below. If you have any other questions, which you should, you can always schedule a free introductory call with me.