Latest branded NFT: Mattel's Barbie, Etihad Airways, DC Comics' Batman, MadeByApes, and more insights about NFTs' Intellectual Property.
It's been an exciting week with new brands joining the 3rd Web and more development happening with NFT IPs. Let's get your quick summary of Branded NFTs in just 5 minutes.
In this edition:
Mattel’s Barbie NFT
Etihad Airways NFT
McFarlane’s Batman NFT
Reflection on Licensing and Brands IP through NFTs
I- Why NFTs are the New IP
II- Over Priced JPEGS: IP LAwyers Talk NFTS
III- Legal Expert Discusses NFTs & IP: Commercial Rights, Ethereum vs Bitcoin, and More
IV- Made by Apes on-chain License
In Brief, NFT news that caught my attention
Mattel’s Barbie drops her 3rd NFT Collection
Another movie another NFT! Mattel's appetite for NFT keeps growing; after HotWheels NFT Garage which was released for Fast & Furious, this time Mattel collaborates with Boss Beauties for a collection of on-chain virtual collectibles, honoring Barbie's 250 careers since her debut in 1959. The NFTs showcase various professions like artists, astronauts, CEOs, doctors, and veterinarians.
Mattel's collectibles on Flow, the blockchain behind NBA Top Shot, will be sold in four-packs for $25. The goal is to make it easier for Barbie fans to enter the Web3 world. Boss Beauties aims to onboard 1 million women and girls into the metaverse.
Ultra-rare NFTs give access to a limited-edition Barbie doll set, while exclusive NFTs grant tickets to the World of Barbie exhibition in Los Angeles. Holders also get additional physical goods, virtual Career Conversations, and an exclusive virtual collectible.
Mattel has previously released Cryptoys and Barbie NFTs and continues to explore blockchain integration without explicitly using the term "NFT" for this collection.
Etihad launches NFT Staking for Miles!
There is a new way to collect Airmiles, and it is not by overspending your double-digit interest rate credit card. Etihad Airways will launch its EY-ZERO1 NFT collection expansion, offering benefits like Silver Tier Status and lounge access to holders. Each NFT is priced at USD 349 for non-holders and $299 for whitelisted holders of the EY-ZERO1 NFT. The limited-edition release includes a Boeing 787 model inspired by "Mission: Impossible – Dead Reckoning Part One."
If you are a frequent flyer, the perks are pretty interesting. EY-ZERO1 collection gave benefits, like Etihad Silver Tier status for ONE year and access to an NFT holders' event at Yas Marina Circuit F1 race. The new collection has more rewards: 12-month Etihad Guest Silver Tier, priority check-in, 25% more Etihad Guest Miles, lounge access at Abu Dhabi airport, Etihad: Virtual Club membership, fast-track to Gold Tier, and customized Etihad card.
Of course, the collection has sold out but the price has dropped below the minting price…
After Superman, Warner Bros partners with McFarlane to bring Batman to the Metaverse
McFarlane Toys partners with Warner Bros. Discovery to create DC digital collectibles on their platform. The collaboration offers a unique and immersive experience for fans worldwide, featuring high-quality digital versions of iconic DC characters. McFarlane Toys has revealed a sneak peek of their upcoming line, including Batman, Batmobile, and Superman. Early access to these collectibles will be available to active players in the Viewer App, with opportunities to earn XP and gain early or discounted access.
Rarible provides the digital storefront and releases items via the Polygon blockchain, compatible with Polygon-supported digital wallets.
Note: this is a different license distribution for the DC characters than the WarnerBros Media MovieVerse (WBMMV) we mentioned in our previous post. The quality of the design of the McFarlane is way better here; and the NFTs live on the Polygon chain (which makes it even easier to buy/store) as opposed to the WBMMV’s Eluvio chain, which hardly constrains the trading and exchanging of the tokens.
Reflection on Licensing and Brands IP through NFTs
I have collected insightful conversations and videos focusing on NFT and IP. This is a crucial topic as millions of assets are coming every day to the metaverse, and their terms and conditions define the ownership, the rights and the obligations associated to their respective NFTs. Buyers/collectors are likely not paying attention to this information as their NFT is worthless, but when the market value goes to the roof, it’s usually too late, and things will become more complicated. So please do yourself a favor read my previous post about NFT IP (link right below) and watch the following videos about NFT’s IP terms and conditions.
I- Why NFTs are the New IP
License Global, a media company specializing in the licensing industry, hosted a webinar with GaryVee and some other figures in the NFT/Web3 space to introduce the licensing community to this hot new type of digital asset.
GaryVee emphasized the significance of NFTs for brands' IP and the need for companies to comprehend its importance: "This notion of being able to build your digital cultural identity based upon the assets and the possessions that you collect from the internet is incredibly powerful," says Sheffield, head of Crypto Visa.
“If NFTs are the future of licensing, then they should be a part of companies' strategies as soon as possible,” Vaynerchuk claims that businesses without an NFT strategy in the next two to five years will struggle to survive. He compares it to the need for social media strategies, saying that NFTs are an extension of branding and require long-term planning.
Visa understands that some may hesitate to purchase NFTs due to security concerns. Sheffield explains that Visa is working on making cryptocurrency transactions more user-friendly, allowing consumers to use their Visa cards for purchases while providing a reliable crypto wallet.
Read the full interview here1
II- Over Priced JPEGS: IP LAwyers Talk NFTS
In her last episode, Carly from Overpriced JPEG mentioned a very interesting video she made with the most experienced IP lawyers chatting about all things NFT and ownership. I highly recommend it to anyone interested in understanding the wordy jargon big brands use to define their intellectual property terms and conditions. As we know, the devil is in the detail, and T&Cs don’t lack evil nuances. After watching this video, you will understand the nuances more clearly.
III- Legal Expert Discusses NFTs & IP: Commercial Rights, Ethereum vs Bitcoin, and More
Yohann chats with leading NFTs and intellectual property legal expert Edward Lee. He is a professor of law and co-director of Illinois Institute of Technology Chicago-Kent College of Law’s Center for Design, Law, and Technology, the first U.S. institution devoted to research of creativity, technology, design, and the law.
In his latest book, “Creator take control” Edward offers a compelling new theory to explain the meteoric rise of non-fungible tokens (NFTs) and their impact on art, business, entertainment, and society, and explains how they revolutionize our understanding of ownership.
In this interview, they discuss:
Recommendations for collections owners to legally protect their brands.
How NFT technology and Web3 are related to the birth of modern art in the 20th century and what lesson it provides for the 21st century.
The explosion of AI and ChatGPT and how they are complementary to NFTs.
The theory of decentralized IP, or De-IP.
Smart contracts on Ethereum and lack of smart contracts on Bitcoin.
How commercial rights for NFTs and Bitcoin Ordinals compare to each other.
What Edward’s favorite brandable NFT IP is.
IV- Made by Apes on-chain License
Another step to turn Yuga IP into a massive cultural phenomenon. Since last month, Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) holders can register their Ape-related products or businesses on the "Made by Apes" platform. This platform offers a special on-chain license in partnership with SaaSyLabs, allowing them to use the Made by Apes logo for their Ape-themed products or services. Although there is a lot of controversy about the multiple terms and conditions changes Yuga has done, switching from giving away the NFT IP to now “only” granting a license, to their defense, a lot of things have happened since 2 years ago, where no one was expecting this NFT collection to become the flagship of a cultural movement. And be careful with those who try to fool Yuga — Yuga Labs Wins Key Victory in NFT Trademark Lawsuit 2
In a nutshell:
Made by Apes (MBA) is a licensing for BAYC/MAYC holders
Apes can request a license to register the businesses or products and receive a unique license number on the MBA platform.
Community contributions can now be recognized and authenticated on-chain
Bodega will display the active ecosystem MadeByApe licenses
In Brief, news that caught my attention
If you hold valuable NFTs, I recommend using a tool such as Warm. Warm is a way to extend ownership from a cold wallet to a hot wallet. As an on-chain store of wallet links, Warm gives a hot wallet permission to act as if it owned the NFTs in a cold wallet. So very useful if you don’t want to expose your NFTs.
- StarTrek NFT coming up
The #USPTO has granted the CBS trademark application for STAR TREK CONTINUUM. The name is now a registered trademark for Online marketplaces for :
Crypto collectibles
NFT-backed art + videos
- Google Play Embraces NFTs in Apps, as Web3 Benefits
Google Play has updated its policies to allow developers to incorporate NFTs into their apps and games! This is a significant advancement for web3 gaming, as users can now purchase, sell, or earn these digital assets directly within the apps. Hope Apple will follow…
And that’s a wrap!
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