💊What are IP Tokens?

IP Tokens (IPTs) represent fractional governance rights over the intellectual property (IP) generated. These tokens offer stakeholders a unique opportunity to participate directly in the development, decision-making, and future directions of the research.

How IPTs Work:

When you acquire IPTs, you are gaining a stake in the IP generated from the research, which includes patents on novel compounds, proprietary screening systems, and potentially even therapeutic methods. However, it’s important to note that IPTs do not entitle holders to guaranteed financial returns or revenue sharing from the commercialization of these assets. Instead, IPT holders benefit from the following:

• Governance Rights: IPT holders can participate in key decisions related to the development, management, and licensing of the intellectual property. This includes voting on important milestones, strategic partnerships, and the allocation of research funds, allowing the community to have a direct influence on the direction of the project.

• Access to Exclusive Information: IPT holders may receive updates and detailed reports on the progress of the research and the development of IP, providing them with a deeper understanding of the project's trajectory and potential.

• Early Access and Benefits: Depending on the project's development and partnerships, IPT holders may gain early or preferential access to innovations, collaborations, or future opportunities related to the IP, although this is not guaranteed and varies by project.

• No Guaranteed Returns: It's up to the IP owner whether the IPT holders get paid if the IP gets commercialized, and while they could decide to award IPT holders based on the success of the project, they would carefully consider regulatory implications before doing so.

The Role of IPTs in Decentralised Science (DeSci):

In the decentralized science (DeSci) ecosystem, IPTs serve as a vital tool for enabling broader community involvement in scientific research. By tokenizing intellectual property, IPTs democratize access to and control over scientific advancements, fostering a transparent, collaborative environment where the community can contribute to and influence the development of cutting-edge therapies.

Economic Rights:

IPT holders are not inherently entitled to any economic benefits. They do not have a predetermined, contractual right to receive any proceeds following the sale of an IP-NFT or its IP. Instead, IPT holders have governance rights and must actively participate in voting to decide on the management of IP licenses, sales, and other activities related to the IP together with the IP-NFT owner. Example of IPT Membership Agreement.

Read about the smart contracts for IPTs in our Github repo.