A cost-effective approach to authenticate ownership becomes important in a world of robbed prosperity.
In today’s society, there is no shortage of ideas, with new ones emerging every day, if not every hour. Ideas, on the other hand, are far more powerful than they appear on the surface. Consider how a concept can become a reality –– a new technology or a solution to a huge world problem –– with little finance and the aid of a strategic team. With so much at stake, it’s no surprise that the desire for recognition for ideas becomes a human trait.
Unfortunately, it is fairly uncommon for the original idea developer to be overlooked, and history is littered with examples of this. In 1871, Antonio Meucci invented the first voice-communication apparatus, despite the fact that Alexander Graham Bell invented the telephone. The difference between the two is that, unlike Alexander, Antonio did not pay the full amount required to register his patent.
The saddest aspect is that the creation of the telephone was not a one-off occurrence. In a more contemporary example, Meta (formerly Facebook), which has grown to become the world’s largest social network, was the subject of a major lawsuit when the Winklevoss twins sued Mark Zuckerberg for stealing an idea. The twins allegedly teamed up with Mark Zuckerberg to help bring their concept to life, an experience that allegedly spurred him to discreetly launch his own social networking site.
These historical examples indicate that one’s ideas (or intellectual property) are not secure on their own. Rather, in a world of robbed accomplishments and misplaced credit, a single point of record becomes critical to validating ownership.
Nonfungible tokens (NFTs), for example, are a decentralised technology that directly tackles these concerns. Each NFT is built with the capacity to maintain immutable ownership of a single data instance. InvArch is leading the charge in building a new architecture for Web3 that will enable the usage of NFTs for IP on a bigger scale. To add to the discussion, one of the team members gives the following information “Rather than attempting to specify the rules for how IP should be maintained, InvArch completely overhauls the foundation for IP, allowing the rules to be changed to empower and protect individuals in the future. The internet, like the rest of the world, is evolving, and IP addresses are no exception.”
The platform now has three protocols, allowing the network to give consumers with the most fluid system possible.
Web3 IP is built on this foundation.
The Invention, Involvement, Inventory, and Investment (INV4) protocol is one of these protocols, and it offers a structure for all of the assets on the InvArch network. These assets could be any of the Web2 files, folders, or licences that many people are already aware with, which are then combined with Web3’s nonfungible and fungible token technologies.
In practise, the IPL Pallet, a component of the IP Licensing protocol, demonstrates this. A modular library of copyright agreements tied to an IP Set is provided by the pallet.
Users can choose from a variety of exclusive, non-exclusive, and sole agreements for trademark, copyright, and trade secret licencing. Users will find perpetual and features terms as they browse through agreements, as well as native licencing agreements such as The Unlicense, MIT License, and General Public License, or the option to upload a custom set of terms.
Increasing the roadmap’s effectiveness
InvArch has seen a number of accomplishments on its way to laying the groundwork for Web3 IP, including a grant from the Web3 Foundation, acceptance into the Substrate Builders Program, and a recent seed financing of $1.75 million.
The introduction of the Tinkernet parachain on Kusama, the release of the InvArch network on Polkadot (DOT), and the deployment of their GitArch application, which can be described as a decentralised superpowered GitHub, are all on the team’s roadmap.
Looking for the biggest NFT marketing agency? NFT Boosts is one of the leading NFT marketing agency that offers effective nft marketing services with latest NFT news around the globe. Visit us today for more details.
This article is just for educational purposes.
Make your own exploration before making any form of investment, as always.
Possessors, holders, suckers, members of the community, jumbos. Want to give your composition a boost by putting it at the top of the homepage? == > Get in touch with us!