Licenses

Future-proof music NFTs

Most important piece of code to ensure the longevity of music NFTs. From small licenses (sampling, remixes...) to multimedia use, this section resolves all potential issues of improper use of music in web3.

Syntax	Description
Licenses	Additional info to future-proof song NFTs.

Creators fees for secondary sales, sampling & remixes

Add this information if you'd like to limit certain licenses. This might be the case when creators want to limit exclusivity in a particular metaverse, or even to give permission to irl explotation for a limited period of time (ie radio broadcast, retail licenses...)

Syntax	Description
creator_fees	resale: same as "seller_fee_basis_points". remix: percentage points to be paid to original creators of the song used for sampling/remix/cover version.

Resale Fees

While this will appear duplicated, once the legacy metadata system (minimum requirements) has been globally upgraded, "seller_fee_basis_points" will be obsolete.

Having this data added to your NFTs now will future-proof your NFT and avoid the need to update metadata in the future.

NFT minimum requirements

{
    "creator_fees": {
        "resale": 0,
        "remix": 0,
}

License: personal use vs. media

This section is to offer provisions based on the usage permissions. Only use personalUse or mediaUse - not both.

License option: Personal Use

Syntax	Description
personalUse	Creators may set the startDate the same as the commercial release date. Add an endDate if creators want to limit how long the audio is available or keep blank to allow unliited time permissions. startDate: yyyy/mm/dd hh:ii:ss endDate: yyyy/mm/dd hh:ii:ss
territory	Territorial limits for this license. Use "worldwide" to include all countries. Add country names on "exclude" to add exceptions.

Marketing Ideas

Creators could use "startDate" for pre-sale campaigns where NFTs are sold in advance to selected fans and make songs available for every holder at the time of official release.

NFT minimum requirements

"license": {
    "personalUse":
         "period": {
                "startDate": "",
                "endDate": ""
         }

    "territory": "worldwide"
}

License option: Media use

Syntax	Description
mediaUse	mode: specifies the type of media permissions. For action based permissions (i.e. streams, radio plays) use "units" (plays) and "number" (numeric value). For time based permissions (i.e. months, years) use "period". licensePrice: a numeric value of the total license cost for the "mode" conditions. currency: currency used for this transaction (USD, SOL, ETH...). Recommended to use USD for international use.
territory	Territorial limits for this license. Use "worldwide" to include all countries. Add country names on "exclude" to add exceptions.
scope	License permissions limited by a media type. If no limits, use "all media" as default.
priority	License priority in ascending order. This filed is important if there are territorial, media or licensing restrictions of any kind.

NFT minimum requirements

"license": [{
    "mediaUse": {
        "mode": "radio plays/years",
        "units": "",
        "number": 0,
      "mediaLicensePeriod": {
            "startDate": "", 
            "endDate": ""
        }
        "licensePrice": 0,
        "currency": ""
        }

    "territory": "worldwide",
    "scope": "all media"
    "priority": 0, 
},
...
]

Sharing revenue with holders

An optional addition. Include this data on the NFT metadata to offer provisions for revenue share. These are provisions for holders revenue share as an optional addition.

Add this information when generating the creators metadata.

Syntax	Description
holder_share	holderAddress: a trasury wallet to receive a holder share holderPercentage: percentage of creator royalties to be paid to holders.

Holders Payout

Add a middleware (treaury) wallet on the creators list that receives the payout for holders. Once the revenues are collected, take a snapshot and distribute royalties from that middleware wallet.