A decentralized community-owned NFT marketplace has launched an integrated intellectual property (IP) marketplace.

X Marketplace will allow users to list NFT IPs and license projects to IPs without fees.

“The current problem is that IP rights are a big part of the NFT value proposition, but have limited opportunity to monetize it. We are making the IP discovery process easier by integrating an IP marketplace within our existing platform” said Bradley Zastrow, X Marketplace. co-founder

The company announced that creating an IP list is completely free and the only ownership verification requirement for the underlying NFT is the user’s signature. Users select the NFT they wish to list for the IP license and include any additional business details.

The launch has made it the first to give collectors holistic access to a broader part of the NFT economy.

Users can also manage their NFTs through existing client portfolio management and valuation solutions. The company announced that it would also be able to monetize its NFT Ip and trade its NFTs within a single market.

“The NFT economy will be more than just buying and selling NFTs, it will include multiple ways for NFT owners to monetize their assets. The launch of our IP marketplace is only in stage one – we are just getting started,” Zastrow said.

According to the company, the initial release will consist of support for applicable collections from Yuga Labs, Azuki, CloneX, IlluminatiNFT, Finiliar, Stickmen Toys, and Swampverse.

The company plans to add more collections regularly and by community request shortly.

NFTs in terms of IP have advanced at a smart pace.

According to a recent report from block chainNews, CryptoPunk and Meebits NFT owners can now create business projects and products based on their NFTs.

The announcement comes after Yuga Labs launched its long-awaited IP license agreement for CryptoPunk and Meetbits NFT holders on August 15.

The new IP license agreement has put these NFT holders on the same level as the IP rights enjoyed by Bored Ape Yacht Club holders, as the agreement will give them full commercialization rights to create projects and products based on in their NFTs.

Some Bored Ape Yacht Club holders have already used the IP in projects.

For example, American actor, producer, writer and director Seth Green is launching a show based on his recently returned Ape. He got his stolen boring ape avatar NFT back by spending over $300,000.

While restaurateur Andy Nguyen also opened the Bored Ape Bored & Hungry theme restaurant in Los Angeles in June 2022.

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