Web3CreativeMarket.com is for sale!
Web 3.0 (Web3) is the third generation of the evolution of web technologies. The web, also known as the World Wide Web, is the foundational layer for how the internet is used, providing website and application services.
Web3 has become a catch-all term for the vision of a new, better internet. At its core, Web3 uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership. A 2020 post on Twitter said it best: Web1 was read-only, Web2 is read-write, Web3 will be read-write-own.
At its core, Web 3.0 relies on blockchain platforms, cryptocurrencies, and Non-Fungible Tokens to restore ownership rights for people. Some reports suggest that Web1 involved read-only, Web2 was read and write, and now Web3 is about read, write, and own as well.
Web3, in the context of Ethereum, refers to decentralized apps that run on the blockchain. These are apps that allow anyone to participate without monetising their personal data.
Web3 can gain a lot of traction in the future with play-to-earn gaming. The massive surge in popularity of play-to-earn games such as Axie Infinity has shown the way forward for web3 gaming platforms. Decentralized storytelling would also emerge as one of the significant use cases of web3 in the future.
How do I create a Web3 website?
Make sure to log in to your Unstoppable Domains account. Then, go to “Go Domains” > “My Domain” and select “Manage”. This will bring up a sidebar menu. Select the “Website” option to bring up the list of options to create a site using registered Web3 domains.
Examples of Web 3.0 Technologies
- Virtual Reality (VR) Virtual reality is a computer technology that replicates an environment, real or imagined, and simulates a user's physical presence in this environment. ...
- Augmented Reality (AR) ...
- Gaming. ...
- Blockchain Technology. ...
- Cryptocurrency. ...
- DeFi. ...
- IDEX. ...
- Storj. More items..
Is Creative Commons the right path for artists in Web3?
Can a blockchain-native art world bear the brunt of such a radical left turn into CC0? And even if so, can blockchain do it better?
On August 1st, XCOPY announced that he was going “all in” on Creative Commons (CCo) licensing, and would soon waive his copyright interest on all of his existing solo artworks.
A few days later, Kevin Rose announced that the popular PFP project Moonbirds would be moving to the CC0 public license as well, in an effort to “honor and respect the values of the internet and web3” and to start “a new and important phase of the project.” While many artists jumped at the chance to incorporate their favorite NFTs into their work, plenty of Moonbirds holders were outraged. They originally purchased their tokens with the belief that they were the sole proprietors of the NFTs and their likenesses, and were now forced to share them with the whole world.
In the weeks that followed, similarly licensed artworks like tjo’s “BLeU” and Grant Yun’s “gn” were remixed, reminted, and reborn in a community-driven art project that took crypto Twitter by storm. But can a blockchain-native art world, where provenance and royalties are the industry standard, bear the brunt of such a radical left turn in ethos? And even if so, is there not a better, blockchain-based solution in our near future?
Let’s take it back to the beginning.
Since the invention of the printing press, copyright has been playing catch up. With the advent of the internet – and the sea of remixes and “right click + saves” that followed – the problem has grown exponentially.
Despite the internet’s growing impact, in 1998, the United States’ increasingly antiquated approach to copyright enforcement turned downright draconian. The problem was Mickey Mouse. At risk of losing their beloved rodent to public domain, Disney successfully lobbied for enactment of the Sonny Bono Copyright Term Extension Act (CTEA), which extended copyright protection for individuals to the life of the creator plus 70 years.
Further, since Creative Commons was envisioned in a pre-blockchain world, some see it as a Web2 approach at risk of muddying a forthcoming Web3 solution.
“Creative Commons embraced the decentralized nature of the Internet by enabling relatively unrestricted sharing and use of copyrighted content, but was somewhat of a concession to the fact that it was practically impossible to effectively monitor more restrictive copyright licenses online,” said Emilio Cazares, SuperRare Labs’s Legal Innovation Counsel. “Creators understood that it made a lot more sense for their reputation and creative craft to have an open approach to copyright to maximize engagement, rather than try to wedge themselves in as remote enforcers of complicated licensing arrangements.”
Creative Commons provides an immediate solution with conceptual force. But for some artists that take the CCo path, abandoning future commercialization rights might prove regrettable if a protocol-based solution emerges.
— The Editors, SuperRare Magazine
As Cazares and others see it, blockchain could enable a more sophisticated, trustless solution. It’s not hard to envision a framework where open source licenses could be codified into smart contracts that mint NFTs granting nuanced licensing rights. Through contract protocols, artists could then license artworks for reuse in exchange for the cost of the licensing token, or, perhaps, 5% of any derivative works’ future royalties, depending on how the contract is written. An edition of licensable tokens for an artwork could then go through its own process of price discovery, bought and sold on the network.
“I have been arguing that copyright transactions through NFTs are the most exciting and ripe use case for blockchain,” Cazares said, “because the use of the content is already constrained to a technological environment.”
Of course, implementation of “protocol-enabled licensing” could very well prove technically challenging, costly, and time consuming. Creative Commons provides an immediate solution with conceptual force. But for some artists that take the CCo path, abandoning future commercialization rights might prove regrettable if a protocol-based solution emerges. One thing’s for sure: Once the CCo door opens, it is very hard to close.
The information provided in this Article does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available in this Article are for general informational purposes only. Please seek help from a qualified legal professional if you have any legal questions about copyright considerations for NFTs or Creative Commons licenses.