Why would anyone buy an NFT when they can save the image for free? Forecasting how creators can monetize their art in a public domain world
Before diving in, let's clear the air about the provocative title - it's not about encouraging art theft. Rather, I'd like to explore the potential benefits that come when your creations are spread and shared across the globe.
In this post, I'll analyze why celebrated artists like XCOPY and innovative projects such as Moonbirds have chosen to make their work public domain under a CC0 license, and how this approach may revolutionize how content creators are rewarded for their art.
Bear in mind, applying CC0 to your work won't automatically add or subtract value, particularly if you're an emerging artist who hasn't yet encountered issues with copyright theft or licensing deals.
Rare Moonbird last sold for 130ETH
NFTs and New Reward Mechanisms
With the advent of blockchain technology and the rise of Non-Fungible Tokens (NFTs), we now have a decentralized, immutable proof of ownership for digital assets. This innovation paves the way for a new model of monetization similar to crowdfunding, but with several added benefits including perpetual royalties, a wider audience, and greater control.
This paradigm shift has just begun, and while some may view it as a fleeting trend, it's important to recognize the long-term potential. It may take time for the larger population to feel comfortable with this new method of content consumption and creator compensation.
Free Distribution as Marketing
Instead of combating piracy, we may soon find ourselves encouraging distribution (a complete 180° from what we know as 'piracy' if your work is in the public domain). The more your creations are distributed, both commercially and non-commercially, the greater your popularity and potential earnings on future NFT sales. Simultaneously, you'll gain royalties each time an old work is resold in the secondary market.
A New Class of Asset Collectors
This new model necessitates a community that perceives value in supporting creators. This could be individuals who genuinely appreciate the art and feel a sense of fulfillment from supporting creators, or investors who are always on the hunt for the next big thing and see potential profits in identifying emerging talents before they hit the mainstream.
However, this model is still very much in its early stages, and the ecosystem is continuing to evolve and expand. As it matures, we may see an entirely new breed of collectors emerging. These aren't just people who acquire art for their personal enjoyment, but those who are actively participating in the artist's journey. The value lies not just in the art itself, but also in the connection and shared history between artist and supporter.
Provenance > Copyright
The power of blockchain lies in its ability to provide an immutable proof of origin, which might play a more significant role in the future than traditional copyright. The more people understand that they can verify the original creator of a particular piece of art or music via Web3, and identify the current owner of the NFT representing the work, the easier it will be for creators to receive credit and royalties.
This is a passive process, not requiring the tedious task of identifying and reporting infringements on centralized platforms like YouTube and TikTok. As we progress, we'll see a shift in perspective where the importance of an artwork's provenance eclipses the need for rigid copyright enforcement. This shift will foster a more collaborative and transparent creative ecosystem, where everyone's contributions are acknowledged and rewarded.
“Right-click and Save As guy” is the iconic artwork by XCOPY collected by Cozomo de’ Medici
📖 Also read: Should Art have Utility?
CC0 - No Copyright Reserved
When artists like XCOPY or Moonbirds release their work under a CC0 license, they are signaling their belief in the transformative power of digital content monetization and reward systems.
Just imagine early sketches of popular characters like Batman or first drafts of iconic Beatles songs. These pieces have undoubtedly generated immense wealth, but more often than not, it's the big studios, rather than the artists or their families, who benefit the most.
On the other hand, countless talented creators who were not 'discovered' by a major player had to make peace with obscurity.
With the advent of the Web3 world, these artists no longer have to 'go big or go home'. They can slowly grow their audience by selling works to an increasing number of individual collectors.
Grifters in Action is a creation of mine featuring 2 distinct collections under CC0 designation: Grifters by XCOPY and rektguy
Closing Thoughts
As we step into this new age of creative finance and art appreciation, it's clear that we're in the middle of a shift that's more than just a fleeting trend. Instead of fighting digital distribution, let's rethink how and when we reward creators for their unique work.
An example that often comes up is when people say "Music NFTs will be huge." I agree with this statement, but not in the sense that the songs minted early will necessarily skyrocket in value. The key point is that musicians, like many other artists and creators, can start receiving payment that genuinely reflects the worth of their art. They can move beyond the tiny earnings they've typically received from platforms like Spotify.
To the creators venturing into the Web3 world: concentrate on the origins of your work and remain patient as the space continues to grow. There's no urgency to make your work public domain immediately, but keep in mind that when the moment is right, doing so could dramatically boost your popularity. Above all, remind your audience that buying an NFT is not just about getting a JPEG, GIF, or MP4 file. It's about backing the artist's success, joining their journey, and becoming a part of their creative story.
Ultimately, it's not about letting people steal your work, it's about enabling them to share it.
🤿 Deep Dive - CC0 Projects You Should Check:
Thank you reading this far! We look forward to receiving your comments, and feedback, so please reach out to us if you feel like being part of this!
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