Animoca Brands to Introduce NFT License to Ensure Royalties Enforceable

Yat Siu, chairman of Animoca Brands, announced that the firm is introducing a new set of NFT licenses, which aim to create a legal framework ensuring that NFT royalties are enforceable.

The licenses require the payment of creator royalties as a condition for receiving licenses to NFTs art and utility. These licenses will enable the NFT creator to remove utility from any NFT that is transacted without royalties and seek legal redress if third parties or marketplaces attempt or enable the circumvention of creator royalties required by the licenses.

Marketplaces will become legally liable for unpaid royalties. Each sale with unpaid royalties will accrue a liability that can then be legally enforced.