NFT sale and licensing terms

Transfer of the NFT changes the token holder under the smart contract. The file may be stored on-chain, in a distributed system or on a server controlled by someone else, and persistence must be explained.

Copyright does not transfer merely through sale of the token. Assignment or licensing must meet statutory requirements and define permitted uses.

Terms establish whether the licence is personal or commercial, exclusive or non-exclusive and whether it depends on keeping the token in the wallet.

• Displaying the work for personal purposes and on digital platforms.
• Commercial use and any revenue ceiling.
• Creating derivative works and limits on modification.
• Use of trademarks, the collection name and brand elements.
• Termination of the licence on transfer or loss of the token.
• Application of the licence to forks, migration and wrapped tokens.

Terms describe the price, gas, per-wallet limit, allowlist, reveal and failed transactions. The operator must explain the marketplace’s role and that on-chain execution may be irreversible.

Royalties programmed into a smart contract or metadata are not guaranteed on every marketplace or resale. The creator should not promise future income where the mechanism depends on third parties.

MiCA excludes genuinely unique and non-fungible crypto-assets but requires substance-based analysis. A unique identifier is insufficient, while fractions, large series or collections may indicate fungibility.

Even outside MiCA, an NFT may fall under financial-instrument, consumer-protection, commercial-practice, copyright, AML or tax rules. Terms do not replace a classification opinion.