Blockchain based Licensing IP

Description

License management company Licence Rocks who are delivering “Easy licensing for the next generation of the internet” have developed a licensing solution for your digital and physical products. Transform the way you manage and monetize your IP for a more and more digital world.

“At license.rocks, we are driven by the vision of revolutionizing licensing for the digital era. With our NFT-based solution, we aim to simplify the complex process of licensing, offering legal compliance and protection for your products. Our goal is to empower businesses to monetize their intellectual property without stress or uncertainty.”

Token-as-a-License (TaaL model)

The Token-as-a-License or TaaL model relies on tokenisation to enable the aforementioned secondary market. In short, TaaL consists of identifying each software license with a token, allowing the validity of used licenses to be easily verified against the blockchain while solving the double-spending problem. This can even allow selling used software out of insolvency, bettering intangible assets’ liquidation in the bankruptcy process.

It is even argued that Ethereum’s Ether, although perceived mainly as a currency, is also a use case of TaaL tokens. In this case, Ether would constitute an example of pure-play consumptive tokens or a “use it up” model, which is transaction-oriented. However, other license models exist and are compatible with TaaL.

The main way that is put forward for TaaL is “token pools” for companies or other organisations representing many final users. For these organisations, it is difficult to precisely predict how much usage of a given software and by how many people it is going to be needed. A pool of tokens that allows the re-sale of unused tokens would reduce the risk of larger purchases, increasing flexibility, the competitiveness of the market and efficiency.

A TaaL use case is License.Rocks, a German start-up focused on enabling users to value and sell used software

Benefits & Outcomes
  • Protection – Enhance your brand and IP protection, securing your assets and counterfeit prevention.
  • Community – Foster stronger community engagement and loyalty through unique incentives and experiences.
  • Marketing – Unleash innovative new ways to support your marketing strategies with NFTs.
  • Monetization – Next to various monetization opportunities for brands, the technology automates the process of the disbursement of royalties.
  • Automation – Simplify royalty processes with NFTs, automating payouts and tracking all transactions via invoices and analytics.

Benefits of PROOFmeta:

  • Visualize license metrics
    • Transform complex licensing metrics from boring, hard-to-understand legal jargon into interactive, understandable visualizations.
    • Offer better-informed decision-making with a clearer understanding of your licensing conditions.
    • Utilize NFTs our associated PROOFmeta approach to monitor both digital and tangible assets protected by Intellectual Property rights.
  • Industry-specific license solution
    • Whether you’re in music, art, fashion, cannabis, or another industry, PROOFmeta adapts to your licensing needs.
    • Our solution includes industry-specific templates for seamless token creation with attached on-chain license metrics.
    • You already have an NFT collection in place, no problem we got you covered as well, talk to us!
  • Intellectual property protection
    • Protect your brand’s intellectual property with the immutable power of blockchain technology.
    • Ensure your IP usage rights are safe and securely communicated.
    • Enjoy brand safety by automated brand frauds within the NFT Space detection.
  • On-chain licensing
    • Transparency and security are taken to the next level. With our on-chain licensing concept, all vital license information, including contract proofs and their metrics, are added to the metadata of the NFT.
    • Stored securely on immutable storage, access comprehensive licensing data anytime, anywhere.
    • Any NFT created with that in mind can carry right away the on-chain metrics.
Links
Further Info

Founded in 2017, Berlin-based blockchain startup license.rocks is a customizable white label platform specializing in the topic of licensing. In the process, software license management in particular crystallized as a real first use case for the blockchain.

In the meantime, they have expanded their topic area and are now also focusing on license management using Non-Fungible Tokens (NFT) for any digital and physical products. With its “code-free” approach, the whitelabel solution offers limitless freedom for the implementation of diverse NFT projects in various industries.

The main target here is the new creator economy. In the future, companies and creators from different fields will create NFTs together and thus create a bridge to the new digital world (metaverse).

The goal is to take digital property and usage rights to the next level. To this end, suitable verticals have been identified and the first to be tackled is the music sector and its problems and collaboration options.

Status

This project is live. Researched by Alexandre in October 2023

© Antony Welfare 2024

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