Web3 is developing at an accelerated pace, and Arweave as an infrastructure will be adopted by more developers to create a new and more colorful ecosystem. PermaDAO is a co-builder community established for this purpose. All participants can find their own roles here to contribute to the Arweave ecosystem. Any proposals and tasks about Arweave can be published here and receive support and feedback from the entire community. Join PermaDAO and build Web3!
Author: Spike @ Contributor of PermaDAO
Reviewer: Lemon @ Contributor of PermaDAO
The History of IP on the Chain: NFT, Games, and AI Narrative Trio
Definition and role of IP
IP (Intellectual Property) refers to the legal protection of the intellectual achievements produced by people in their creative work. It includes various forms of intellectual property such as patents, trademarks, copyrights, industrial designs, etc. The role of IP is to protect the rights and interests of creators, encourage innovation and creation, and promote scientific and technological progress and economic development.
In Web3, IP can be combined with blockchain technology to achieve more secure, transparent and traceable intellectual property protection. By recording relevant information of IP on the blockchain, it can ensure that the ownership and use rights of intellectual property are effectively authenticated and protected. At the same time, the decentralized nature of blockchain can also prevent intellectual property from being tampered with or infringement from being hidden.
For example, suppose a music creator wants to protect the copyright of his work. He can store the relevant information of the work, such as music files, creation time, copyright owner, etc., on the blockchain in an encrypted way. In this way, anyone who uses this music work can query the relevant copyright information through the blockchain to ensure legal use and payment.
But unfortunately, this is only theoretically feasible. In the early days, the cooperation between NFT and IP was in the field of creator economy, such as music and movie NFT, but the final winner was the PFP avatar, and entrepreneurial projects that were truly aimed at NFT music and art platforms basically all failed.
Even so, it is an indisputable fact that the emergence of Web3 has gradually shifted the Internet from a centralized model to a decentralized one. Specifically, the current Web3 provides the following important functions for IP:
Decentralized authentication: Web3 allows users to interact anonymously or semi-anonymously on the Internet by using encryption technology and digital authentication, while protecting user privacy and security, such as MPC or abstract accounts;
Decentralized data storage: Web3 uses blockchain technology to store data in a distributed manner on various nodes in the network, ensuring the reliability and immutability of the data. For example, Arweave can store any on-chain data for at least 200 years, which can basically be considered permanent storage.
Smart contracts and DApps: Web3 enables automated transactions and contract execution through smart contracts and decentralized applications (DApps). With the concept of intent and abstract accounts, the use of future DApps will be no different from existing apps.
Token Economics: Web3 supports the creation, trading and management of digital assets, allowing users to own and control their own digital assets, while also providing a foundation for the development of cryptocurrencies.
Main application scenarios of IP
Decentralized Domain Name System (DDNS)
The traditional Domain Name System (DNS) relies on centralized organizations to manage the mapping between domain names and IP addresses. In Web3, by using public chains and address mapping functions, a decentralized domain name system based on public chains can be implemented, so that the ownership and control of domain names belong to the users themselves, increasing security and credibility.
Taking ENS (Ethereum Domain Name System) as an example, each domain name corresponds to a unique smart contract address, through which the corresponding public chain address can be found. Users can obtain their own domain names by purchasing or registering domain names and bind them to their personal identifiers. When other users want to access the domain name, they can query the account name address and connect to the corresponding service through the address.
The benefit of ENS is that it can achieve true decentralization of domain names, no longer relying on centralized domain name registration agencies, and can also provide higher availability and anti-censorship. Because ENS is based on Ethereum, the ownership and control of domain names are completely in the hands of users themselves and will not be interfered with by any centralized agency. In addition, ENS can also provide higher security to prevent domain name hijacking or common DNS pollution attacks.
Proof of ownership of digital assets
By putting IP on the chain, the uniqueness and immutability of digital assets can be achieved, thereby ensuring the ownership of digital assets. The following is a specific example:
Suppose Alice is an artist who has created a digital artwork, such as an Atom NFT, and wants to sell and transfer it as a digital asset on the chain;
Alice stores the digital artwork permanently through Arweave and generates its unique hash value;
Alice uses a smart contract to bind the digital artwork to her digital identity and create a unique digital asset identifier (NFT) on the blockchain.
Alice can choose to auction the digital artwork or sell it directly on Permaswap, and buyers can bid or purchase it through the everPay platform;
Once the transaction is completed, the smart contract automatically transfers the ownership of the digital artwork to the buyer and updates the ownership information on Arweave.
Buyers can view the digital artwork they own on-chain and prove their ownership through the work’s unique identifier.
Copyright protection and traceability
In the early conception, one of the application scenarios of IP is in copyright protection and traceability. Through blockchain technology, copyright protection and traceability of digital content can be achieved to ensure that the rights and interests of creators are effectively maintained.
For example, Alice uploads her music atom NFT work to the Arweave-based platform Piainty. During the upload process, the music work will be divided into several audio clips and a unique hash value will be generated through an encryption algorithm. These hash values will be recorded on the blockchain and associated with the copyright information of the music work.
When other users purchase or use this piece of music on the platform, the system will automatically verify its copyright information and ensure that the user has obtained legal authorization. At the same time, since each audio clip has a unique hash value, it can be traced through the records on the blockchain to track the use and dissemination of the music.
In this way, musicians can better protect their copyrights and ensure that their music works are not used or pirated without authorization. At the same time, users can also trust the platform more because they can verify the authenticity and legality of music works through records on the blockchain.
But as mentioned earlier, the IP + NFT copyright system has basically not worked, not to mention the trend of zero royalties that seriously damages the enthusiasm of creators.
Exploring the Failure of NFT Copyright Protection
In the process of combining IP with Web3, privacy protection and data security are the main challenges and opportunities.
The core concept of Web3 is decentralization, storing data on the blockchain to achieve data transparency and traceability. However, this also brings a series of privacy and security issues. For example, whether music is minted as NFT or not cannot prevent downloading and listening, as well as the spread of copies.
In order to solve this problem, a possible solution is to use encryption technology to protect the privacy and data security of users. For example, starting from the identity protection of the uploader, the user's personal information and transaction data can be encrypted using Mind Network to make it difficult to be stolen or tampered with during transmission and storage.
In addition, when developing applications that combine IP and Web3, a series of security measures need to be taken, such as access control, authentication, and audit mechanisms, to ensure user privacy and data security.
But in reality, it is almost impossible for NFT to implement an effective copyright tracking and protection system for the following reasons:
Unable to judge originality. The current originality protection, such as OpenSea and other platforms, still requires a long and cumbersome process of evidence and self-certification. In addition, since the platforms and chains are not interoperable, it is very difficult to effectively verify the originality. For example, if A issues a series of NFTs on Ethereum and B forks on Solana, is it considered a copyright infringement?
NFT is a kind of certificate that cannot prevent the copying and dissemination of information. Data can be encrypted and verified, but after any data is downloaded, it is almost impossible to control the copying of information between locals;
The price difference between NFTs leads to their excessive financialization. For example, the pricing system of NFT can be summarized as Max (Floor, ATH). The ATH here is not the highest price of all NFT tokens, but the highest price of a single member, which is different from FT. In addition, the floor price is the entry threshold, but it is not the psychological threshold of the buyer. The product of the maximum value and the quantity is the common psychological expectation of all participants in this game. This contains a general tendency that no matter what the buyer's takeover price is, they always think that they can sell it at the highest price in the industry, which can be regarded as the maximum psychological market expectation, which is completely different from the operating logic of stocks or tokens.
The FT (homogeneous) token pricing system is A = (1, 1, 1, 1, 1, 1, 1, 1, 1), a1, a2, a3 only have different serial numbers, but the actual meanings are the same.
However, NFT is an arithmetic or geometric progression, B = {1,2,3,4,5,6,7,8}, each element is a clone of B, but the elements are very different, which means that NFT has stronger internal volatility than FT.
FT token transactions are essentially a zero-sum game, and the most advantageous choice for oneself will result in the most disadvantageous situation for both parties to the transaction.
The unevenness of NFTs leaves room for "gold rush". There is a possibility of gold among the mud and sand.
But the most extreme case is that the entire project returns to zero. This is the same dilemma of NFT and FT. We can understand that the lower limits of both parties are consistently low, but the upper limit NFT > FT.
The current NFT is a kind of land rent economy. The land rent is not limited to the virtual land auction of The Sandbox, but all NFTs are a kind of compensation for occupying certain resources. Once occupied, the profit is shared many times, which forms the eternal exploitation of the former to the later ones. It is essentially an unequal system design that is bound to move towards centralization, such as the profit-sharing model of secondary sales.
The ideal NFT must be a tax economy. Every individual participates in the construction of the entire society as an equal object. The celebrity effect should not be the only option. The new world created will definitely not be a renovation of the old world, but a thorough revolution.
For example, the acquisition of NFT aggregation trading platforms by sudoAMM and Uniswap marks the two-way movement of NFT and DeFi. However, these are based on the assumption that NFT has the liquidity of DeFi.
But in fact, the lack of liquidity of NFT has long existed, which is essentially the difference in the choice of financialization path:
Commoditization of Bitcoin: The last cycle has shown a trend, and this round, following the Fed’s monetary easing, Bitcoin has completely bid farewell to the name of a safe-haven asset;
The logic of MEME tokens: narrative, money laundering, and irrational enthusiasm of capital;
The financialization of NFT is first of all a recognition of the value of Tokens, but what is more is the personal value that cannot be measured by mathematical formulas. ERC-721 stipulates the difference between NFT and FT. And ERC-1155 is a reintegration of NFT and FT. For example, Adidas's phased casting is more in line with the fit between marketing and human nature, and the sense of participation is prolonged, ensuring that the value of NFT fluctuates over time. ERC-4907 is the first discovery of NFT's personality. It can be rented, truly exploring the future framework of NFT. Our personal value can not only be valued, but also rented, and the rental-sale ratio is so visible for the first time.
Alternatively, blockchain NFTs with filtering systems can be used, such as reviewing the originality of certain projects, but it is very complicated to determine whether the spirit of decentralization still exists with a review mechanism.
In addition, collectibles and artworks need to be distinguished. A typical example of collectibles is NBA Top Shot. It doesn’t matter whether the artwork is elegant or vulgar. What is important is the unique aesthetics of a single or continuous work, such as the loading of spiritual charm. Collectibles are closer to the collecting psychology of a child like heart.
This distinction does not have scientific accuracy, but it is a better understanding of the current situation of NFT. For example, given the price and influence of Crypto Punk, it is no problem to say that it is a collectible + a work of art.
But these are not the largest markets, and currently it seems that the best type of value intervention is the gaming market.
Game IP on the blockchain: Web2 IP vs. native Web3 IP
In the game IP narrative model, there are mainly two categories. One is the classic IP that needs to make a chain version to some extent, but there are almost no truly realized versions at present. We will use its Web3 transformation as an example to illustrate; the other is the native Web3 game IP, which we will illustrate with the Dark Forest as an example.
The most appropriate example of Web3's model for traditional IP is Sorare, which can basically be seen as an imitation version of "FIFA" (Pro Evolution Soccer), with not much difference in basic logic.
"FIFA" is a football IP officially authorized by FIFA to be adapted into a game by EA. It has released 22 major versions to date and is deeply loved by sports fans and game fans around the world. It can also cooperate with well-known stars on personal IP and peripherals, which is a very typical path for football commercialization.
Before the cooperation with FIFA, the main source of income for FIFA World Cup hosting rights was commercial cooperation, such as the most typical auction of broadcasting rights. However, with the help of gamification, it can obtain more continuous daily income outside of the World Cup.
After the emergence of Web 3, more new options for the commercialization of sports IP have emerged, such as OKX sponsoring the Premier League team Manchester United, Dapper Labs and the NBA jointly launching the chain-modified star card NBA TOP SHOT, and Sorare bringing on-chain games and NFT elements.
"FIFA 22" was launched on October 1, 2021. Based on its current development status, it can be said that "FIFA" is a masterpiece, while Sorare is still getting started.
A major update for the World Cup and a series of promotions, such as free PlayStation Plus games in May 2022 and big discounts on other platforms.
In May 2022, FIFA 22 was the third-highest-ranked game by MAU on PlayStation and Xbox (up three spots since April). It was 23rd on PC (+12 spots) out of 37 markets covered.
Highlight moments generated more than 800,000 hours of streaming data. In May 2022, FIFA 22 (No. 12) reached 823,000 hours of streaming time by creators on Twitch and Facebook Gaming.
Sorare did not explode with the World Cup, but commercialization is still progressing steadily
The ZK series game experience is poor. In addition, it is worth noting that Sorare is a blockchain game built on StarkEx. If its game experience cannot be the same as the existing FIFA, it will be difficult to continue to make profits. In 2022, EA SPORTS™ FIFA has more than 150 million accounts, while the number of active players of Sorare is more than 1,000. The number of new independent players of FIFA Mobile has increased by nearly 80% year-on-year, while Sorare data is too stable.
As of 2021, it has completed 4 rounds of financing, with a total financing amount of US$738M. SoftBank participated in its A and B rounds of financing respectively, and obtained top capital support.
In 2022, it will expand to other types of commercial events such as NBA and MLB. The basic route will still follow the business model of cooperating with clubs and sports leagues to share profits.
The commercialization of the World Cup has been obvious, but market data has been mediocre. In November 2020, Messi reached a cooperation with Sorare by taking a shareholding. In addition, the Premier League will hold talks with its 20 clubs to discuss a multi-year contract with Sorare. However, during the World Cup, its NFT data did not show an explosive trend.
Gambling and pre-match frenzy. In July before the World Cup, Sorare's sales data saw a massive increase, but it remained stable during the World Cup, indicating that its popularity was not caused by normal fans entering the venue. It has also been investigated by the gambling authorities in the UK and France, and it is still unclear how to deal with the relationship between NFT and football gambling.
Sorare represents the future trend of Web 3 IP. Well-known sports events and celebrities still need new ways to realize and continue to make profits, which is the premise and basis for them to be keen on NFT, Token or crypto companies to seek cooperation.
However, the game experience and commercialization model still have serious remnants of the "old era". Whether it is NBA Top Sho or Sorare, they are all seeking to cooperate with existing giants. Innovative profit models such as NFT surpass the game experience itself. This is a common problem of current sports blockchain games.
Among the native Web3 game IPs, the most well-known is Dark Forest.
An on-chain MMORTS (massively multiplayer online real-time strategy games) battle game developed based on ZKSNARK technology. The background is set in planetary battles in space. The game design principle is based on the Dark Forest Theory in "The Three-Body Problem". It uses the incomplete information mechanism to maximize the self-preservation and defeat the enemy.
Initial setup: Incomplete information games and RTS real-time strategy games with zkSNARKs
zkSNARKs are a powerful cryptographic tool that can be used to verify computations on secret data. A zero-knowledge proof used in a game like chess might prove something like, "I moved my knight from secret location A to secret location B. I won't tell you the actual locations of A and B, but this proof proves that the move from A to B is indeed a valid design."
To understand the impact zkSNARKs could have on the digital world, it’s important to understand the difference between two types of games: perfect information games and imperfect information games.
A perfect information game is one in which all players know the entire state of the game universe. For example, checkers and chess are perfect information games because all players always know the positions of all the pieces on the board. Similarly, CryptoKitties is a perfect information game because all players know who owns what cat, and what the properties of each cat are.
Incomplete information games (also called "hidden information games") are games where the players may not know the full state of the world. For example, poker is an incomplete information game because you don't know which cards your opponent has in his hand. Strategy games like StarCraft and EVE Online also fall into this category. In StarCraft and other RTS games, information hiding is implemented through the "fog of war" - areas on the game map are obscured until explored by the player.
Imperfect information games allow players to explore a richer and more dramatic strategic space. Information asymmetry enables things like deception, conditional coordination, complex social dynamics, and large-scale emergent player behavior. Because of this, almost all popular MMO games are imperfect information games.
Until now, it has been nearly impossible to build incomplete information settings on decentralized systems. This is because the data layer of most decentralized systems is completely open and transparent by design. If the complete game state is stored in a transparent data layer that anyone can inspect, there is no concept of private information.
Zero-knowledge cryptography changes this. With zkSNARKs, players can keep private state while publicly submitting verifiably valid actions. This enables us to build games like Dark Forest, which relies on a “cryptographic fog of war” secured by zkSNARKs.
The bounties are distributed according to rounds, and a targeted invitation system is adopted to maintain the loyalty and competitive level of gamers.
dfDAO: PVP Arena with Higher Freedom
After GR, dfdao plans to launch a trusted neutral PvP arena mode on Layer 2 and establish a funding pool for community grants. Funds raised through Gitcoin will be used to reimburse contributors for cloud infrastructure costs, Gas, and NFT casting costs.
The organization hopes to make the Dark Forest a positive-sum game ecosystem where players can compete, cooperate, learn and build in the game.
On August 24, 2022, AltLayer Network announced that it would host the decentralized real-time strategy game Dark Forest built on zero-knowledge proof technology zkSNARKS on a game-dedicated execution layer.
And combine more community plug-ins to activate community participation in the game.
The game highlights are mainly the following four points:
The encryption mechanism is designed and the ZKSNARK mechanism is adopted to ensure the playability of the game.
Adopt whitelist mechanism to limit the number of people participating in the game, as well as round mechanism, open at regular intervals
It is built on XDAI and will be migrated to Gnosis Chain later, with complete data on-chain features.
It has been praised by many big names, including A16Z, Coinbase and Vitalk.
The Dark Forest Lobbies were recently launched. Any user can start their own Dark Forest Universe through the Dark Forest Lobbies. The dominance is gradually transferred to the community. dfDAO was selected for the Gitcoin Grants support program and the plug-in system was launched, which will give participants more control. The core development team will provide more support roles.
It can be found that the cultivation of game IP is extremely difficult. Currently, blockchain games have basically entered a period of silence. There are basically no successful examples of blockchain transformation of traditional games, and the only truly successful native IP development is Dark Forest.
However, from the perspective of gaming, the gaming guild itself is also an important component worth discussing. On September 13, the Vietnamese gaming guild Ancient8 launched the Ancient8 Chain, an L2 network based on OP Stack, which will focus on providing services to game developers and gamers.
Ancient8 is the infrastructure of GameFi, focusing on software and community. Ancient8 is building the GameFi community and Launchpad launch platform, which serves as a market distribution channel for GameFi and Metaverse projects and has attracted millions of users.
Ancient8 manages the largest blockchain gaming guild in Vietnam and enables everyone to build the Metaverse through blockchain software products, guild scholarships, blockchain education, institutional-level research, and community.
Ancient8's vision is to democratize society and finance in the Metaverse.
Triple buffs have shaped the development history of Ancient8.
When Axie became popular in Southeast Asia, the guild, an economic organization, also emerged with it. The reason why it is an economic organization is that the absolute poverty in Southeast Asia has resulted in a huge number of young people being unable to participate in production activities, and the guild can organize production in a relatively cheap way and earn the difference.
Ancient8 was also born in this context, starting from a game "gold-making guild". In January 2022, it received a seed round of financing of US$4 million from Top Capital, with participation from Dragonfly Capital, Pantera Capital, and Hashed. Ancient8 said it would use the funds to form a decentralized autonomous organization (DAO) to further build a community around playing and earning games.
Gradually evolving towards DAO, focusing on marketing and community building. DC community members are nearly 100,000, with 115.4K followers on Twitter.
Evolving towards infrastructure, the product line is becoming increasingly rich. Currently, it is divided into three product segments: research, Dojo Launchpad, and community.
The research is divided into games, macro, academy and exclusive sections. Reports on the game field are issued regularly, reflecting our in-depth research capabilities and deeply binding the accumulated game products.
As a game launch platform, Dojo Launchpad currently mainly focuses on its own platform NFT PASS, and is still in contact with more games.
In addition to accepting investments, Ancient8 is also actively expanding external investments to build a deep binding relationship between itself and game projects.
On March 14, 2022, the Web3 MMO game Delysium completed its first round of private financing of US$4 million. The funds raised will be mainly used for game development and ecosystem expansion. The team plans to launch Alpha and Beta versions with PVP tournaments in mid-2022.
2022.3.14, Metaverse Game Studios' dark sci-fi theme RPG blockchain game Angelic completed $10 million in financing
On April 21, 2022, the NFT lending protocol MetaLend completed a $5 million seed round of financing led by Pantera Capital, with participation from the Vietnamese gaming guild Ancient8 and others. MetaLend is currently in the testing phase and plans to be publicly released in the second quarter.
On July 26, 2022, game studio Mighty Bear Games completed a $10 million financing through token sales. This round of financing will be used to launch the blockchain game department and produce the Web3 battle royale game Mighty Action Heroes.
2022.9.2, shortlisted for BNB CHain Vietnam Web 3 Accelerator.
On November 30, 2022, Web3 game studio Roboto Games completed a $15 million Series A financing, led by a16z and participated by Ancient8. To date, the company's total financing amount is $19.5 million, including the seed round in 2019. The funds will be used to build the company's second game and recruit artists and marketers.
It can be found that game guilds are different from single blockchain game IPs. They pay more attention to long-term operations, and the latest trend is to build stronger and richer infrastructure by themselves.
In general, although the game IP is temporarily dormant, with the support of continuous ecological construction, it will have the opportunity to take on more abundant IP chain functions in the future.
The rebirth of the oldest IP: narrative economics powered by AI?
Recently, a16z made a high-profile investment in the open source IP protocol Story Protocol, and wrote in its investment notes, "Today, Soundcloud has banned derivatives, videos with soundtracks have been deleted from YouTube, and original artists receive neither attribution nor compensation after surviving."
In fact, on-chain IP does not need to worry too much about copyright protection issues. As long as the IP is attractive enough, the economic value it creates far exceeds the losses caused by piracy. For example, according to the classic theory of one thousand readers, the core group of enthusiasts has sufficient motivation to pay for excellent content.
For another example, S31 Labs, in which SCP Ventures recently participated, has a core idea of co-creating content through AI. Any user can directly "fork" other people's works and continue to write, just like a monkey printer printing Shakespeare. The era of human symbiosis has arrived. As it says, "Cascad3 (S31 product) is a platform dedicated to community co-creation of IP services. It contains an original fractal structure creator economic system to help co-create IP to achieve fair and automatic profit sharing. The community can use Cascad3 to generate creative maps, intuitively display the connection between co-created works, and facilitate collaboration between co-creators and browsing by content consumers. In addition, Cascad3 will also become the most suitable scenario for the secondary creation of public domain IP (such as "Romance of the Three Kingdoms"). The Cascad3 platform will be publicly tested in the near future, and many mature Web2 IPs are ready to be led by the original authors to start community co-creation."
We can find that the core idea of these two projects is not copyright protection or content quality itself, but the overall participation of open source IP. In the centralized traditional literature and art market, its producers are highly concentrated in universities, writers' associations, and a few schools. The general public has no right to participate in production and can only be passive recipients.
However, on Web3, open source IP itself has extreme freedom. If users lack creative ability, they can directly access tools such as AI to create. In this sense, Cascad3 is not only a platform for collaboration between humans, but also a platform for human-computer collaboration.
The significance of AI's influx into the creative field lies not in the content itself, but in the shift of the subject paradigm. For a long time, humans have been the source of hatred between each other, and are the carriers of conflicts such as class, wealth, and gender. However, with the support of AI, humans are equal in the face of AI. Any content disseminated in the public domain can be solidified and quantified into specific terms. Humans make mistakes, but the concept of machines making mistakes is extremely low.
In addition, the significance of Cascad3 lies in the re-establishment of a complete creator economic system. No matter how the content is circulated and distributed, as long as one participates in one link, it can be converted into the corresponding economic incentive part, and continue to participate in the sharing of the economic system without worrying about the labor not being able to be deposited.
For a long time, creative freedom and community activity have always been a contradictory and troublesome issue. In order to maintain creative freedom, more abundant and detailed rules must be formulated; but at the same time, the complexity of the rules will dampen the enthusiasm of creators.
The idea of Cascads is to establish a more equitable profit-sharing mechanism. In the test in early September, several decentralized collaborative organizations including PermaDAO were actively trying it out, and SeeDAO even participated in early project incubation and initial trials.
From a more basic logic perspective, Arweave’s series of underlying changes have made the basic components of the creator economy complete. The combination of UDL (Universal Data License), UCM (Universal Content Marketplace), and $U will change the face of the creator economy in the next era.
More underlying infrastructure is being rolled out, the most important of which is the adoption of UDL, UCM and $U protocols designed by Forward Research. The three will change the current status of simple data uploading from the basic protocol layer and stimulate its economic value.
The goal of UDL (Universal Data License) is to give creators more autonomy. Creators can set any type of license, such as the length of the license period, the currency used for payment, and the fee. They can sync the settings directly with Bundlr when uploading, and the assets will then be available on the Permaweb.
UCM (Universal Content Marketplace), after the UDL-labeled content is uploaded, it becomes an atomic asset type on the Permaweb. The divisibility and tradability brought by smart contracts make content in any format have trading value, including text, pictures, streaming media, and even tokens and NFTs. This will fundamentally revolutionize the existing content creator economy.
$U will be minted 1:1 from AR entering the Endowment when users pay for storage fees. It can be traded directly on Permaswap or obtained when uploading using Arseeding or Bundlr to support more creators to monetize their content.
Conclusion
The IP development history of Web3 has gone through the trilogy of NFT copyright protection, game development and open source IP. Among them, NFT has basically failed and is currently concentrated in financial speculation. It is difficult to see signs of recovery in the short term.
Gaming is a very long-term track, and open source IP has gradually entered the practical stage. It is currently the direction most likely to change the economic status quo of creators. Arweave has made sufficient arrangements in this direction and can basically meet current and future applications.
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