Technical Components of IP-NFTs
Molecule uses a host of services to enable the transacting of intellectual property in the form of NFTs. Below you can find a list of third-party projects and their corresponding application in the IP-NFT tech stack:
Diagram showing the process of IP-NFT minting
IP-NFTs can be used to securely manage access rights to private research data, legal agreements and IP. Molecule uses Lit Protocol to create and persist encryption keys for various use-cases. Lit Protocol nodes use secure threshold computation to store secrets so that no party besides the allowed ones ever has access to a private key. IP-NFT holders that comply to a token's access control conditions are able to retrieve the decrypted encryption key for all documents or data attached to an IP-NFT.
IPFS is the most well known method to address and distribute data on peer to peer networks. Since the network cannot natively guarantee persistence, we're utilising Protocol Labs' web3.storage platform to pin all IPFS related content (e.g. encrypted legal documents) and automatically have Filecoin deals created.
IP-NFTs generally are agnostic about the storage layer of their metadata and attachments. Arweave is a decentralised, permanent data storage network with different persistence guarantees and economical mechanics than Filecoin. We consider to additionally offer support for Arweave persistence under full custody of IP-NFT minters. Users of the Molecule IP-NFT protocol are already free to use it.
To keep public and private research data persistent, Molecule implicitly makes use of Filecoin when uploading data to web3.storage. Besides attached legal documents and IP-NFT metadata containing research project detail information, Molecule aims to also backup private research data on this distributed data storage blockchain.