X Marketplace Launches New Platform to Connect NFT Holders with Brands Requiring IP Licensing

NFT holders can make money off their assets by listing their IPs to projects that want to license the NFTs’ imagery.
Image source: X Marketplace / Twitter

Quick take:

  • Yuga Labs, Azuki, CloneX, IlluminatiNFT, Finiliar, Stickmen Toys and Swampverse are the supported collections for IP listing.
  • Holders of these NFTs can list their IPs on the platform for free.
  • Projects that want to license IPs can also post ads seeking NFTs.

X Marketplace, a decentralised community-owned NFT marketplace, has launched an integrated IP marketplace to connect NFT holders with projects that require IP licensing. 

The IP marketplace supports Yuga Labs, Azuki, CloneX, IlluminatiNFT, Finiliar, Stickmen Toys and Swampverse collections. Holders of these NFTs can list their IPs on the platform for free while projects that are seeking NFTs for IP licensing can also post ads.

Launched in January, X Marketplace started as a multi-chain platform before focusing solely on Ethereum, a move that contradicts other major platforms that are branching out from Ethereum to integrate other blockchains.

The marketplace is owned and operated by the X community. Governance is provided by the X DAO with voting rights given to users who have staked their X tokens for the veX governance token.

In July, X Marketplace published a proposal for ApeCoin DAO and outlined the idea for an Ape IP marketplace. Proof’s recent switch to CC0 licensing for the Moonbirds and Oddities NFT collections sparked a debate over the best practice for IP licensing.

NFT collections such as Bored Ape, Meebits, CryptoPunk, and World of Women have given their holders commercial rights to the NFT art, meaning that owners of the NFTs can use the NFT imagery for business and personal purposes. 

“The problem today is that IP rights are a large part of the NFT value proposition but with limited opportunity to monetize it. We are making the IP discovery process easier by integrating an IP marketplace within our existing platform,” co-founder Bradley Zastrow told The Block.

He added that many of the IP licensing agreements between NFT owners and businesses are being made through Twitter. 

One other platform that’s helping to streamline the IP licensing program is Bored Jobs, which was launched in July to help NFT owners “put their prized collections to work” and for brands to hire NFTs.

Stay up to date:

Previous Post

Franklin Templeton Jumps on the Metaverse Train with New Thematic ETF

Next Post

Metaverse Magna Plots Africa’s Largest Gaming DAO After $3.2M Seed Round

Related Posts
Stay on top of things
Follow us on Twitter
Total
12
Share