Thinking in NFT Commercial Landing: Blockchain

As the concept of NFT continues to be popular, major Internet applications such as Twitter, TikTok, Alipay, and companies that hold copyright, IP and other intellectual property rights are actively promoting NFT-related cooperation. The reason is that in the digital age, the traditional business model of intellectual property is stretched in the face of fast-paced digital media. NFT brings a new dimension of value capture to cultural communication, enabling IP to create new commercial value in the context of cultural communication.

There has been a generational difference between the copyright business model and the content creation model, and the traditional copyright authorization transaction model has been unable to adapt to the new situation of C-side creation. As the threshold for user creation is gradually lowered, the creation mode has changed from traditional professional content creation to user creation, but it has also brought about copyright authorization problems. The limitations of the traditional copyright business model in the face of UGC development include:

First, there is a lack of effective communication and authorization channels.

Second, there is a lack of an effective pricing mechanism for copyright authorization.

Third, the transaction of copyright authorization is complicated and the transaction cost is high.

In copyright business, NFT can be regarded as a “flowing contract”, which can bring a brand new mechanism for the allocation of copyright resources. The market underestimates the commercial prospects of NFTs. Not only can it realize copyright confirmation, but also copyright owners can issue license agreements with different conditions in batches, and allow license agreements to circulate and set prices in the market. At the same time, the NFT smart contract can stipulate royalties, profit margins, transaction commissions and other agreements to achieve long-term value capture in the process of copyright use and dissemination.

The openness of NFT has brought greater innovation space for the implementation of copyright business. Unlike traditional digital assets, NFT is recorded in the blockchain and can be seen as a database shared by the application ecosystem. Applications can develop according to their own direction, data is not monopolized, and traditional Internet applications can also call NFT data. This structural adjustment has brought greater room for innovation in the implementation of copyright services.

NFT encapsulates the complexity of copyright transaction authorization in a concise way, and implements authorization terms through smart contracts and ecological applications. Users only need to understand their own rights and trade in a centralized market. This C-oriented business model also lowers the threshold for commercialization of copyright works.

Consortium chain technology has been used in the judicial practice of copyright protection, and NFT has the potential to change the copyright business model. Union Core Alliance Chain resolve copyright issues that do the right block chain can not be altered, relatively transparent, the characteristics of multi-party mutual trust, reduce copyright indeed the right credentials operational costs. Major Internet manufacturers and startups have made arrangements in the field of “blockchain + copyright protection”, including the copyright protection platform of the ant chain, Baidu Totem, and Zhigui copyright. Beijing Internet Court, Hangzhou Internet Court, and Guangzhou Internet Court have all adopted blockchain technology for evidence storage and evidence collection. However, the deposit certificate only optimizes the link of confirmation and rights protection, and the optimization of copyright resource allocation is inseparable from a transaction method that is more suitable for the C-side.

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