I would like to share information about DocuSign’s e-signatures, which may be useful when you want to do something similar to selling licenses at the MusicNFT.
If you just want to add your own signature, you can register for free, so please take advantage of it.
DocuSign Usage Procedure
There is a limit to the number of times you can have the other party sign your name, but it is also possible. Account registration was completed with only email registration and password setup.
You can also register your address and TEL. There are several types of free accounts available, but if you only need your own signature, please click the button in the image at this link. Please note that “Try for Free” is a 30-day trial only.
DocuSign – eSignature Plans and Pricing
The digital signature procedure is simple. For example, a purchase certificate (containing terms of use, information on rights transfer, precautions, etc.) created in Google Docs, etc., is output as a PDF file, and DocuSign digitally signs the PDF file to complete the process.
Advantages and Cautions
I don’t think there are many markets dedicated to the sale of music NFT rights yet; Gala Games is difficult to use because participation is by screening only, and Loyal does not support buy-outs. In general, I have yet to find a standardized way to enter into a detailed rights purchase agreement, and it is not possible to enter into an agreement for secondary use.
That’s where DocuSign comes in. Digitally signed documents are legally valid and a great way to buy and sell rights to digital data outside of your platform. You can easily move from a mere verbal agreement to a business contract by simply posting the rights content on a collection page or announcing it on Twitter.
(We can wait for a public platform to appear, but I think it is best to utilize both. It is sad that they take half of our sales…)
Ideally, a third party who manages the rights information should take care of everything. However, I think it is still a promise between individuals that can be flexible, such as this is OK, this is not OK, etc. So, as a way for individuals to deal with this issue until the industry as a whole develops slowly, I think that attaching a document with an electronic signature may be a possibility.
By allowing only the purchaser to download a digitally signed purchasing certificate, I can also benefit from the fact that I can ask anyone I suspect of misuse to present the certificate. Not everything can be controlled and monitored, but this does not mean that measures cannot be taken at all. However, there are quite a few holes in this approach.
For example, if NFTs are bartered among a certain group of people and lent or borrowed for free, the value of the NFTs will decrease. As a countermeasure, I think it would be a good preventive measure if it is clearly stated that only those who have purchased the NFT for a fee will be granted the right to use it.
What I have written so far assumes that you will not lose your usage rights if you resell your NFT. So please note that if you want to transfer your usage rights, for example, like the Collab.Land service that allows you to create a holders-only Discord community, you will need to operate differently than that.
Come to think of it, the USDC asset breakdown documents released by Circle were also made using DocuSign. I’m not sure if it’s too late, but DocuSign is a blockchain-based e-signature issuing service, and I’ve read officially that even major Japanese companies like Yamaha and Nomura are using it. Why don’t you take this opportunity to try it.
Afterword
Thank you very much for taking the time to read this long article.
I don’t know if this will be helpful, but I am posting a link to my music NFT sales page below as a practical example of the operation.
The music produced is NFT-edited and sold in limited quantities for commercial use. Along with the music, I also distribute a certificate of purchase digitally signed by DocuSign and set USDC as the payment currency to ensure safe and secure use.
Circle, the issuer of USDC, has continued to comply with laws and regulations in its mission to “provide sound money on the Internet. “In an official report released on July 5, 2022, Circle announced that 80% of USDC’s reserves are U.S. Treasuries due within three months and the remaining 20% in cash The report states.
Reference: How We Minimize Risk (Circle Blog)
My Twitter account for music activities is here. I send out information on blockchain, NFT, and other topics related to music, so please come and visit me. (Click here for my account for research on blockchain in general)
