NFTs are tokens that can be used to represent ownership of unique items. NFTs allow assets to be tokenized on the blockchain, i.e., art, collectibles, real estate, etc. Furthermore, NFTs present more use cases closer to our physical selves, such as digital identity cards, event tickets, and memberships.
We're beginning a radical shift in how media is created, distributed, and owned. But unfortunately, there's no mechanism in web2 that allows artists to capture the upside they make for a platform. For music & video, streaming has put an artificial cap on the amount even the most talented artists can earn.
Web3 is changing this – mainly by eliminating the idea of platforms & reorganizing the internet around atomic units of media that invite communities to cross-compose.
The future will be web3-native collectives that encourage derivatives & cross-project Composability and permit artists, collectors, & curators to share ownership.
Source: Shivsak Huja
IP Holders within Yuga Labs
In this thread you can find a few examples of big name brands in the clothing/jewelry space making collaboration with IP rights holders in the Yuga Labs Ecosystem.