In the last blog post, we discussed the many ways blockchain technology can be used. In this blog post, as the title suggests, we are homing in on specific examples of how NFTs can bring value to and monetize intellectual property (IP). We will discuss books as NFTs through the lens of Book.io, we will discuss music as NFTs through the lens of Project Newm, we will discuss video-based content as NFTs through the lens of Nucast, we will discuss Digital Art as NFTs through the lens of Aeoniumsky and we will discuss digital collectibles as NFTs through the lens of Derp Birds.

Books as NFTs
The intent is to centre the discussion of Books as NFTs around the Mark Cuban backed company – “Book.io”. According to their website “Book.io is a multi-chain Web3 marketplace for ebooks and Audiobooks where anyone can collect, read, and then resell what they buy – just like print books”. The key value proposition here for consumers is being able to sell their e-books – unlike hardcovers, this is not the status quo. Consumers had to effectively license what they were reading online, if you were finished with the book, that’s it – no ability to resell. By leveraging blockchain technology and making books NFTs, book.io was able to inherit the disruptive properties of the technology – a new idea of ownership on the internet where one can sell what they bought, after use.
The value, however, doesn’t stop there – not only are books as NFTs beneficial for the consumer but its also beneficial for the authors as well. Imagine being able to transparently streamline royalties every time a book is sold? That’s what is happening, real value is being created for real people!

Music as NFTs
The discussion around Music as NFTs will be centred around the startup – Project Newm. Project Newm is a music streaming marketplace for artists and fans intent on changing the future of music. Two of but not the only problems with the music industry are royalty transparency and what I would describe as the “cut of value”. If you pay attention to the business of music – one of the discrepancies is royalty amounts and payments. There are many stories of artists querying royalty distributions from streaming platforms and other distributors – believing that they are not being issued the correct amounts. But what if there was a transparent way of automating the issuance of royalties that is publicly viewable? Sounds familiar? Similarly, artists have also expressed concern over their cut of value – NFTs and streaming platforms like Project Newm, allow for direct distribution, which opens yet another door for artists to be “independent” and earn a larger cut of the value their efforts create. Solving real problems for real people.

Video Content as NFTs
Nucast in like manner to Book.io and Project Newm also offers a similar value proposition to content creators and fans alike. Nucast describes themselves as a blockchain-based video-streaming platform that introduces true digital content ownership and allows Creators to maintain better control over their works. This is the common theme of what blockchain can do for all those seeking to use it to store, transfer and monetize IP. It effectively acts as a new means to distribute content direct to consumer. What is interesting though and is perhaps a property that we haven’t discussed in the prior sections, is the censorship resistance that the content inherits when distributed on the blockchain. For example, once on a locked policy, the creators nor Nucast or any third party for that matter, can change what was distributed – so even politically sensitive content can be issued free from those wishing to censor it. Though possibly more niche in interest, this is something that appeals to and creates value for a certain segment of buyers and content creators – see fallout and the discussion around the movie “The Sound of Freedom”.

Art as NFTS
Aeoniumsky is an independent creator known for their surreal and dreamlike animated artworks. Aeoniumsky was able to introduce the idea of digital scarcity to his illustrations by making them an NFT/putting them on the blockchain. Between the quality of his art, the clever mechanic he put in place to encourage collectability and the assurance of scarcity & provenance provided by blockchain technology, he was able to sell out his collections. The collection then went on to do almost 1 million USD on secondary markets, where he was able to collect a 4.4% royalty. Where else or how else is this possible for an illustrator? The introduction of this new technology allowed for him and other artists to be able to be able to achieve something that was just not possible before – automated royalties on digital art. Real value, for real people.

Collectibles as NFTs
In a similar fashion to digital art – those who made collectors items like trading cards are also afflicted with the same problems. Because you don’t know when and how an item passes hands, it is difficult/impossible to be able to enforce a royalty. If Derp Birds which is a community who enjoys digital collectibles delivered to them in a fund, gamified roadmap was to have done their collection physically/in-real-life, they would have no clue when the collectibles changed hands and therefore, no way to enforce a royalty. With the introduction of a publicly transparent ledger with the ability to facilitate transactions, in tandem with smart contract enabled distribution of royalties on digital creative, creators now have another way to monetize and earn from their work. Again, real value for real people!

So you see, though blockchain technology is still young, there are presently many different companies and creatives who are benefiting from the impact the technology has had on IP. In the next blog, we will discuss examples of how companies and countries, use the technology to represent important documentation.