Onchain IP and Royalties

Onchain IP and Royalties

Back in the early days of NFTs, around 2017 to 2019, we were hard at work creating an NFT marketplace. We even caught the attention of Mick Jagger's attorney, who was super excited about our vision for onchain royalties.

Although he eventually pulled out (doing an ICO) due to legal uncertainties and we didn’t file patents due to funding issues, our journey is still worth sharing.

I joined the senior leadership team and helped drive the development of a next-gen Intellectual Property Asset Management Platform. Our goal was to create services and products to empower the creative world, working closely with artists and creators to shape the future of blockchain-powered IP asset management for copyrights, trademarks, patents, and trade secrets.

We aimed to support coders, designers, writers, photographers, filmmakers, and other creators with IP and Copyright Management. Protecting digital content creators' IP rights was tough, but we built a blockchain-powered solution with the help of experienced international IP attorneys.

We were thrilled to roll out the features of the IP Asset Management platform (patent pending) and the token. We developed the MVP for the SNAP BLOCK mobile app (patent pending), letting users snap a picture with their phone and mint it as an NFT. Our platform used Distributed Ledger Technology (DLT) and blockchain to manage, protect, and monetize IP assets, covering copyrights, trademarks, and patents.

Key Features:

  • Proof of Authorship Engine: Creates an unchangeable record of IP asset authorship and ownership, generating blockchain certificates and optional NFTs.
  • IP Vault: Offers secure storage for IP-related files, certificates, NFTs, and contracts with private and linked access options.
  • IP Asset Marketplace: Enables users to monetize IP assets through sales, licenses, trades, and auctions, powered by the utility token.

How It Works:

  1. Users upload files and provide tokens.
  2. The system generates a hash via SHA-256.
  3. An unchangeable record of authorship and ownership is created on the blockchain, along with a certificate.
  4. Users can create NFTs, store assets in the IP Vault, or list them for sale.
  5. Partnerships with IP professionals allow users to register IP with government offices if desired.

SNAP BLOCK Mobile App: Combines features of the Proof of Authorship Engine, and IP Vault, allowing users to manage IP assets on the go.

Unique Features:

  • Captures digital media (photos, videos) and generates blockchain records for proof of authorship and ownership.
  • Offers automatic or user-confirmed blockchain operations.
  • Generates blockchain certificates and optional NFTs instantly.
  • Allows adding digital signatures and metadata.
  • Seamless integration with IP Vault and monetization.

All transactions on the MVP and SNAP BLOCK app were powered by the utility token and the Blockchain, with optional fee delegation and atomic swaps.