Research Summary
The report discusses the implications of Disney losing its 95-year-old patent for Steamboat Willie, which led to a surge in creative reinterpretations, including NFTs. It explores the potential of NFT projects to become the next Disney and the role of onchain communities in this transformation.
Key Takeaways
Disney’s Loss of Steamboat Willie Rights
- Disney’s Copyright Expiration: Disney’s 95-year-old patent for Steamboat Willie expired on December 31, 2023, leading to the character entering the public domain. This allowed for new interpretations of the character, including NFTs and tokens.
Surge in Creative Reinterpretations
- Explosion of NFTs: Following the expiration of Disney’s copyright, there was a significant increase in creative reinterpretations, including NFTs. For instance, Truth Labs launched a Steamboat Willie NFT collection that sold out in about 40 minutes.
Understanding NFT IP Ownership Rights
- Public Domain and Creative Commons Zero: When IP enters the public domain, it becomes CC0 or “Creative Commons Zero,” allowing anyone to use, modify, and distribute the work without permission or attribution. This has led to the creation of notable CC0 NFT collections like Nouns, CryptoPunks, Mfers, Blitmap, and Loot (for Adventurers).
Potential of NFT Projects to Become the Next Disney
- Emergence of New Disney: The report speculates on the potential of an NFT project to become the next Disney. Major players like Yuga, Doodles, and Pudgy are developing IP-based businesses, aiming to replicate Disney’s success. The report suggests that brands building communities onchain today may have a competitive advantage in the future.
Role of Onchain Communities
- Onchain Community Building: The report highlights the efficiency of building communities onchain via NFTs and tokens. It suggests that once these communities reach a critical mass, the collective value they create can be harnessed to achieve shared goals, build enduring projects, and spread the IP.
Actionable Insights
- Explore the Potential of NFTs: With the expiration of Disney’s copyright and the subsequent surge in creative reinterpretations, there is potential in exploring NFTs as a new form of creative expression and value creation.
- Understand the Implications of IP Ownership Rights: Understanding the implications of IP entering the public domain and becoming CC0 can provide insights into how to leverage these rights for creative and commercial purposes.
- Consider the Role of Onchain Communities: The report suggests that building communities onchain via NFTs and tokens can be more efficient than traditional methods. This could be a valuable insight for businesses looking to build strong, engaged communities.
