An absurd slip-up: the community of investors bought the ‘Dune’ book for $3 mln, apparently thinking it gave them copyright rights
Something unusual happened to the Spice DAO community, which spent $3 million to buy a rare adaptation of the sci-fi book ‘Dune’. They thought they were buying the IP rights in order to create an animated series intended for sale on the streaming service.
The community announced these plans on its Twitter account. Along with releasing the series, they planned to distribute the book on the Internet and fulfill the most popular project suggested by their community. Right now, the leading opinion is to create an NFT per page for further sale.
However, they neglected the fact that buying a book at auction does not give the author the right to use it for commercial purposes. Many readers alerted them about that. Therefore, they may be prosecuted for copyright infringement if the series is made and the NFT is released.
Moreover, some noticed that the book was purchased at ten times the starting price of $30K-$40K. Not to mention the fact that the book was not published as a single copy.