Galaxy Digital Report: Metaverse Needs to Take Action to Address Digital Property Rights

Decentralised metaverses will be decentralised in name only if action is not taken to address digital property rights, according to a new Galaxy Digital report on NFT licenses. The report looked at metaverse licensing agreements for The Sandbox and Decentraland in order to understand how real-world copyright and trademarks are perceived in the metaverse landscape. It concluded that both do a “decent job” of attempting to assign ownership to their users for user-generated content, but in both cases the companies retain all intellectual property related to the sales of land parcels in their metaverses, merely assigning usage rights to NFT purchasers.