Intellectual Property Tokens

InvArch is and Intellectual property development network deployed on Polkadot to provide a secure and technology driven economy. Most importantly, InvArch aim is to enable tokenization of intellectual properties and eliminate barriers of trust through the blockchain.

Now, concerning Intellectual Property Tokens. They’re Ideas, Images, videos, diagrams, graphics, and others that would show and Individuals Idea. And these Ideas are stored as NFTs.

InvArch protocol now serves as a link between ideas and it’s creation. Also a connection between Intellectual properties and skilled Individuals. And through minting, you can upload your ideas on the blockchain, without anyone altering it.

The immutable nature of the InvArch Blockchain provides a history of ownership and creation that cannot be tampered with. This is imperative to an intellectual property owner as it prevents their claim to ownership from being contested by another. Without any omissions, One of the reasons behind InvArch intellectual property tokenization is to encourage creation of wide variety Intellectual Properties. This tokens gives some other incentive for their creation, because it allows people to benefit from the information and intellectual properties they create, and allows them to protect their ideas and prevent copying.

InvArch Tokenization of Intellectual property rights is something that is desirable to many other firms. On one hand, it is known that intellectual properties involve different legal barriers such as being dependent on a registry, having long-waiting times for granting of the right which create friction in the market

Simply saying, InvArch is a unique blockchain platform that unites many blockchains and allows their users to safely communicate with each other, regardless of their location, share ideas, tokenize their ideas in the form of NFT, bring these ideas to life, and remain confident that their ideas are completely safe.

Worthy of being mentioned are NFTs which are digital assets, or “tokens” stored on decentralized ledgers popularly referred to as the blockchain. NFTs use codes, referred to as “smart contracts,” to transfer the digital certificate of ownership, ensuring proof of ownership in the process. Like cryptocurrency, NFTs also use the blockchain to record transactions, but where cryptocurrency creates interchangeable (or “fungible”) tokens, NFTs create unique, non-interchangeable tokens with distinct identifiers.

The non-fungible nature of NFTs offers particular advantages. NFTs can refer to tangible or intangible assets and commonly represent digital media such as images or videos. NFTs often do not include the digital media itself in the blockchain. Instead, the unique identifiers in the tokens point to a storage location of the media, with the InvArch blockchain serving as proof of ownership and a medium of transfer.

WHY DO NFT’S HAVE VALUE?

Despite not usually transferring any copyright, NFTs derive value in other ways. NFTs commonly derive value from scarcity, collectability, and authenticity. The NFT may also derive value from the item that the token purports to represent.

These properties make NFTs comparable to collectible cards or fine art. The authentic Mona Lisa would sell for millions of dollars in part because of its scarcity. Leonardo da Vinci will never paint another. A poster copy Mona Lisa at the Louvre’s gift shop, although visually identical, will sell for a few dollars at most because of the lack of scarcity and authenticity.

website; invarch.io

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Crypto enthusiast, blockchain lover, article writer

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Aesha

Crypto enthusiast, blockchain lover, article writer

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