Forgotten Runes Wizard's Cult Creator Clarifies Holder Rights
"Forgotten Runes holders have a non-exclusive commercial right to the character in their NFT," says Dotta, the creator of the Forgotten Runes Wizard's Cult.
The non-exclusive commercial right is carefully worded, according to Dotta. This allows the Forgotten Runes team to include any of its characters in upcoming works or expansions of the Forgotten Runes "Runiverse" whether or not the team owns the corresponding NFT.
The team is using this non-exclusive commercial right as they build an animated series with John Wick writer, Derek Kolstad.
The clarification thread comes amidst lots of conversation surrounding holder rights and licensing, but Dotta suggests the approach taken by Forgotten Runes is the best way for a project to monetize its IP.
Forgotten Runes recently raised a funding round, headlined by Alexis Ohanian's 776, to build out its Runiverse and continue expanding its decentralized IP.
The project's genesis NFT collection, Forgotten Runes Wizard's Cult, trended down 13 percent this week to a 1.43 ETH floor price. Only 243 of the 10,000 NFTs in the collection are currently listed for sale.