Intro to IP-NFT
IP-NFTs connect Intellectual Property to Non-Fungible Tokens.
The first IP-NFTs were minted by Molecule for VitaDAO to register its IP and R&D data rights to its sponsored research into longevity therapeutics.
IP-NFTs connect IP and research and development (R&D) data rights to NFTs on Ethereum by attaching legal contracts (sponsored research agreements and their like) to smart contracts (NFTs).
IP-NFTs serve as building blocks for decentralized science (DeSci), like DeFi legos for DeSci. As such, they present a new paradigm in the evolution of legal contracts for scientific research. Once stored only on paper in file folders, now stored almost exclusively in electronic file folders, legal contracts for scientific research stored on Ethereum turn those contracts into smart contracts.
As smart contracts on Ethereum, IP-NFTs can be permissionlessly transferred peer-to-peer; made composable with DeFi; fractionalized to distribute licenses and governance to to groups of people; built on to unlock new ways to interact with and develop IP, R&D data, and NIPIA (Non-IP Intangible Assets like trade secrets and publicity rights); used to empower crowd control of ethics in commercialization based on FRAND terms; and create unprecedented liquidity in IP markets.
Read about the background on IP-NFTs on Molecule's Medium at this link:
Last modified 6d ago