Meebits Release Official IP Rights Agreement
Meebits announced that the IP rights agreement for its holders went live in a recent tweet.
Yuga Labs, who previously purchased Meebits as well as CryptoPunks from Larva Labs, will still own all of the "rights, title, and interests in and to the Meebit Art including any and all copyrights, trademarks, and other intellectual property rights."
However, holders will be granted the license "to use the Meebit Art associated with your Meebit NFT for as long as you hold your Meebit NFT."
Holders now also own the IP rights to any derivative that their Meebits NFT is featured in accordance with the United States Copyright Act.
Yuga Labs also hinted at holders being "offered utility, benefits, or entitlements from time to time."
The creators of Bored Ape Yacht Club followed up this statement with "Yuga makes no assurances of any Utility" letting users know that utility is a possibility and not a promise.
The full document for IP rights relating to Meebits can be found on the Meebits App.
This news follows CryptoPunks releasing its official IP agreement.