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"YOU ACKNOWLEDGE AND AGREE THAT YOU SHALL HAVE NO OWNERSHIP OR OTHER PROPERTY INTEREST IN THE PRODUCT, AND YOU FURTHER ACKNOWLEDGE AND AGREE THAT ALL SUCH RIGHTS ARE AND SHALL FOREVER BE OWNED BY AND INURE TO THE BENEFIT OF SEGA. Except as expressly licensed to you herein, all right, title, and interest in and to the Product and any and all associated copyrights, trademarks and intellectual properties therein and/or related thereto and all copies thereof (including, but not limited to, any patches, updates, copies, derivative works, titles, computer code, themes, objects, characters, character names, stories, dialogs, catch phrases, locations, concepts, artwork, images, animation, sounds, musical compositions, audio-visual effects, text, methods of operation, moral rights, “applets” incorporated into the Product and any related documentation) are owned by SEGA or SEGA’s licensors."
Source: http://www.sega-australia.com/EULA
In short, it's technically OK to create fanart for SEGA's properties (since there's no agreement against it), so long as you agree that the ownership of the IPs belong to SEGA and as a result, they are given full control over the distribution of your work.
That's like HP owners saying that they own the fanfiction of HP and the right to publish it in a new book because they own the IP for that series. Derivitive works (probably butchered the spelling) are usually under the fair use law aren't they?
With YT in its current state, I'd say your best bet is to only use assets from companies that are recognized as having a pro-Youtuber policy, and have been shown to honour that policy. Valve, Ubisoft and even EA now are examples of that. Sega and Nintendo are most definitely not.
where your work may be exposed to the public safely, Rutube.
Maybe somebody can tell me if it might get deleted or not?
https://www.youtube.com/watch?v=kDwx3s6PFL0