There has been a lot of speculation about the Cool Cats stance on derivative works and copycat projects, so let’s take a few minutes to explain everything.
Cool Cats Non-exclusive License
As the owner of a Cool Cat, you basically have the right to do anything you want with your Cool Cat image.
Maybe you want to create a t-shirt, go ahead. Perhaps you want your cat on a mug, no problem. You might even want to pay an artist to create a new piece of work, featuring your cat, also ok.
You can do all these things and more, as long as you are holding the Cool Cat NFT.
You can not sublicense your license to third parties. You can transfer your license by selling your Cool Cat. The new holder will then be the license holder.
To help clear up any confusion we will be issuing a full and detailed license on the website in the not too distant future. An announcement will drop once that is posted.
Commission-based Derivative Works
A commission-based derivative work is a piece of artwork that you personally request/pay to be created. It does not exist until you request/pay for it.
Cool Cats fully supports this type of holder-artist exchange and there are many great examples of these already in existence.
High Volume Derivative Works
Projects producing a version of every cat within the Cool Cat collection, have likely not contacted every owner asking for permission to use their cat. As such these collections are stealing IP and action can be taken to have them removed from Openseas (essentially killing the project).
However, it is not always so cut and dry.
Copyright law can become very complicated and there are a number of grey areas.
There is also the question of your investments.
I have seen a number of Cool Cat holders investing in a number of derivative works. I would hate to be the reason that they essentially experience a rug pull.
We could spend precious Cool Cats’ development time, watching Twitter and Openseas for any new copycat and low-effort clone. Or, we can spend that time creating new utility and functions for Cool Cats and the Cool Cat community.
We are opting for the second option.
There will always be projects popping up that want to mimic us. We will take it as a compliment and press on. Continuing to work hard to grow Cool Cats and the awesome community.