New Zombie NFT Project ZINU – The “First Real NFT Royalty-Free License” | Ap-Pop

Who says you can’t have your cake and eat it too? ZINU, a new project, says you can have your one-of-a-kind zombie NFT and sell it too, all without owing any royalties.

Typically, NFT (non-fungible token) holders do not own the rights to market their NFTs. Without permission from the issuer, this means that the holders do not own the underlying intellectual property (IP) rights.

ZINU changes all that.

Disrupting the current NFT IP scene, ZINU claims to bring the first and “truest form of decentralized intellectual property in the form of an ‘NFT royalty-free license’. Once licensees have purchased a ZINU, they can use for personal and commercial purposes.

The NFT collection of ZINU or Zombie INU is called the Zombie Mob Secret Society (ZMSS). It includes 10,000 fully animated 3D zombies that can “walk, strut, run, flip, dance and fly”. The collection fell at the end of March and quickly sold out.

Built since October 2021, ZINU has a community of over 40,000 members, and the collection can be found on the ETH, BSC, and POLYGON blockchains.

The role of intellectual property in NFTs

The role of intellectual property is a critical issue for the emerging Web3, and not one that should excite only data protection lawyers.

Determining ownership and appropriate royalties for creators and owners of NFTs is a significant, multi-million dollar challenge within the industry. This is already evident from the ongoing litigation between Nike and Stock X, Quentin Tarantino and Miramax, etc.

Additionally, the IP conversation will become even more important over time as the value of NFTs and the degree of adoption of decentralization increase. As of this writing, thousands of NFT sales are taking place every day, after NFTs hit a $41 billion market in 2021.

Under US copyright law, creators are granted exclusive rights to reproduce, distribute, and display their works, as well as three other rights.

More often than not, NFT creators restrict the commercial use of their works. This prohibits buyers from “marketing” their NFT. Instead, the licensee can only display their art, while the artist retains all other commercial rights.

Some NFTs like CryptoPunks, CryptoKitties and Meebits give holders the right to use their NFT for commercial purposes via an “NFT License”. This license gives buyers a limited ability to use, copy or display their NFT to market their merchandise. To gain this access, holders will typically pay NFT Project royalties on sales.

The NFT license also comes with an annual gross revenue cap of $100,000. If buyers exceed this amount, they are subject to the legal liability of the original creator of the NFT.

ZINU “Royalty Free License”

ZINU uses a different, royalty-free approach. ZINUs can be used for personal and commercial use, all royalty-free, so holders enjoy commercial rights at no additional cost.

Lawyer Andrew Rossow told Wealth of Geeks that this approach “sets the project and team apart from all projects from a copyright perspective.”

ZINU’s model means ZMSS members can profit from their ZINUs, but holders see fit in various industries. They can also use their ownership of ZINU NFT to profit from it, as the project brings its zombies to TV, movies, games, merchandise, and more.

“Whether they already own a small business or are just starting out, NFT ZMSS holders will be able to introduce their own ZINU to their customers and take advantage of this intellectual property that the whole community is building,” the company said. in a press release.

Star-studded team

ZINU is backed and developed by an experienced team of Google, Intel, Microsoft, and Amazon developers.

He has also drawn advisors from toy and gaming legends into his strategy board. This includes game designer Tomo Moriwaki from Spider-Man, Spider-Man 2 and Medal of Honor. Marvel artist Digger T. Mesch also joined ZINU advisers, known for founding Art Asylum, Minimates Toys, Adam Sandler’s “Scuba Steve,” and more.

Celebrities are also part of the “Zombie Mob”, including Norman Reedus of The Walking Dead and DJ and Web3 influencer Steve Aoki. Backstreet Boys’ Nick Carter featured ZINU artwork in his music video for his recently released song “Scary Monster.”

ZINU’s detailed backstory also attracts fans of NFT lore. According to the project, the collection’s namesake and original zombie Zinu is an immortal canine creature who travels the “Zombieverse” to protect the planet from impending danger.

Judging by its project roadmap, ZINU is just getting started. ZINU co-founder Scary Monster shared on Twitter this week that ZINU will soon be releasing a new app that will be “a game-changer and one-stop-shop for all your crypto needs.”

The company also plans to launch its own NFT marketplace, host a virtual #ZombieMob summit, and launch a game to win in the future.

More articles from the Wealth of Geeks Network:

This post was produced and syndicated by Wealth of Geeks.

Featured image credit: [Insert Credit].

Comments are closed.