How copyright impacts everything from NFTs to TikTok dances
comes from our features editor Sarah Jeong: that the only functional law on the internet is copyright law. It’s the only legal regime that everyone recognizes exists and can actually lead to results. You want YouTube or Facebook or Twitter to take something down, and if you come at it in any direction other than copyright law, your chances of success are not assured. If you come at it through copyright law, you can just open the DMCA portal and request a takedown and YouTube will probably do it.
It’s nuts to me, but it’s a real thing that happens. Why do you think that there is that willful ignorance of the underlying copyright law? To some extent, that’s what makes NFT valuable — the idea that you have a work that you can restrict the right to copy. This has happened kind of in a Web 2.0 space: photographers got together and filed a class action suit last year. I don’t have the name of the case in front of me, but there are a lot of famous photographers who were concerned about the access that folks have to be able to reshare their framing, I think it’s called, on a website. They could pull, from Instagram, the actual post and then frame it within the context of an article, mostly happening in the entertainment world.
Again, I think we see that with privacy law, antitrust law, and certainly with at-market law. Are you seeing it in copyright law? It’s the area of law that’s slowest to move, but it’s also the area of law that affects everybody the most. That disconnect has always just seemed fascinating to me: you’re trying to get a bunch of internet users to change how they believe the internet works, which maybe you will never do.
In addition to the creative and collectible — which is what’s sensational right now — we’ll see just average uses. Not just average uses, but also extraordinary uses to represent credentialing and identity. I’ve been out of school for a few minutes. If I had to go back to my high school — shout out to Friends’ Central in Philadelphia — to get my diploma, that can cost money and time. Who has time for that? But if the diploma could be represented with NFT technology, that could be really cool.
Our system of governance is set up to move slowly. Congress, in the best of times, is set up to move slowly. Technology is not. From the piano roll days all the way to where we are now, technology advances, and we don’t have sufficient protections. When you think historically of copyright law, it’s not for the average person. Originally, it was just for the publishers to make money off of creatives.
I want to talk about DAOs in a minute, but let me just wrap up the NFT piece. We had Scott Belsky, the chief product officer from Adobe, on. He told us they’re going to allow people to prepare NFTs for minting inside of Photoshop. That’s something they’re rolling out.You mentioned OpenSea. They’re the largest NFT platform. It’s actually funny.
To me, this is one of the most complicated things. I’m glad you brought it up. In almost every other non-blockchain case, if you engage the power of the state in your controversy, the state can take something away: you made an illegal copy of my photo and you’ve got it hung up on your wall, and I sue you. I can take it away. It’s out of the system; I can destroy it or whatever.
Hmm. There’s so much. Gosh — we should have started this question about 30 minutes ago. First of all, to your point earlier, it has to be relevant to the state of the art and the norms of our exchange of information, and now exchange of value.
Your mention of the Constitution DAO was interesting, because once they weren’t successful in the purchase, then it became the drudgery of, “How do we get folks their value back? What do we do next?” But it happened really fast, like in a week’s time. Think of how long most corporate entities have to get up and running, and you have all of these agreements, etc. Again, it’s the “move fast, break things” mentality of entrepreneurial endeavors.
When you look at the organizational tools that DAOs tend to use, they’re going to use Discord or something else in a way that kind of sets in stone the communications around what the agreement is.
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