It has never been resolved what exactly IP means in such a context, nor to what extent NFT projects can bestow IP rights onto their holders. Those unanswered questions bubbled back to the surface this week, when Yuga Labs—the multi-billion dollar company behind Bored Ape Yacht Club—announced that it planned to bestow exclusive commercial rights onto holders of Moonbirds.
Source: Moonbirds Copyright Controversy Exposes Flaws in Crypto’s IP Obsession – Decrypt