Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Joe Lubin’s Sharplink crashes 91% in two weeks amid ETH treasury panic

03/07/2025

Solana’s Seeker Phone Coming in Early August Along With SKR Token

03/07/2025

‘Bitcoin Community Is Not Our Enemy’

03/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    ‘Bitcoin Community Is Not Our Enemy’

    03/07/2025

    Can BTC Reclaim $105K Amid Trend Weakness?

    03/07/2025

    Prepare to see Bitcoin produce a ‘red week’ if this level breaks, warns expert

    03/07/2025

    No More Bitcoin? Exchange Outflows Show Supply Shock Possibilities

    03/07/2025

    SharpLink Gaming Makes Bold $4.82M Ethereum Investment, Reinforcing Massive Digital Asset Strategy

    02/07/2025

    Unveiling the Crucial Impact of a $39.8M Coinbase Prime Transfer

    02/07/2025

    Will Ethereum Coin Hold the $2,400 Support?

    02/07/2025

    Ethereum Transaction Activity Surges as Analysts Predict Breakout Toward $10K

    02/07/2025

    Solana’s Seeker Phone Coming in Early August Along With SKR Token

    03/07/2025

    What Will XRP Be Like If Ripple Acquires Circle? CryptoQuant CEO, ChatGPT and Grok Answer!

    03/07/2025

    Sam Altman’s World Raises $135M in Token Sale to a16z and Bain Capital Crypto

    03/07/2025

    1,388,655 Solana Suddenly Moves On-chain, What’s Happening?

    03/07/2025

    Art Blocks’ PostParams Enable a New Medium for Generative Art

    03/07/2025

    Researchers Use AI to Reconstruct 3,000-Year-Old Babylonian Hymn

    02/07/2025

    Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

    01/07/2025

    Donald Trump Made His New Move Concerning Memecoin TRUMP!

    01/07/2025

    Joe Lubin’s Sharplink crashes 91% in two weeks amid ETH treasury panic

    03/07/2025

    Solana’s Seeker Phone Coming in Early August Along With SKR Token

    03/07/2025

    ‘Bitcoin Community Is Not Our Enemy’

    03/07/2025

    Ripple May Someday Buy Up Some Legacy Companies and Put Them Out of Their Misery: Greg Kidd

    03/07/2025
  • Blockchain

    Worldcoin Launches Human-Focused Blockspace on World Chain Mainnet

    02/07/2025

    Crossmint and Visa Team Up to Secure On-Chain AI Agent Payments

    02/07/2025

    SINT Partners with Spheron Network to Power AI Agent Operations with Decentralized GPU Power

    02/07/2025

    Hotcoin and Web3 Decision Forge AI-Powered Partnership for Safer Web3

    02/07/2025

    Orbler and IIICC Unite to Power a Green and Decentralized Future of AI

    02/07/2025
  • DeFi

    Crypto startups pull $1.15B across 140 deals in June 2025, up 9% from May count

    03/07/2025

    Mind AI Collaborates with AIxBlock to Power Decentralized AI Development, Workflow Automation

    03/07/2025

    Wormhole and Stacks Integrate to Enable Seamless Cross-Chain Bitcoin for DeFi Innovation

    03/07/2025

    Stabble Taps Kima Network to Streamline Cross-Chain and Fiat Deposits on Solana

    03/07/2025

    Coinbase Acquires Token Management Platform LiquiFi as Exchange Aims to Expand Its Services

    03/07/2025
  • Metaverse

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025

    Mark Zuckerberg Unveils New Meta AI Lab After Poaching OpenAI Talent

    01/07/2025

    Can China’s MiniMax-M1 AI Topple US Rivals? We Put It to the Test

    28/06/2025

    Meta and OpenAI Use of Copyrighted Books for Training AI Was Fair Use: Federal Judge

    26/06/2025

    How to Get Your Chatbot to Talk Dirty

    18/06/2025
  • Regulation

    Joe Lubin’s Sharplink crashes 91% in two weeks amid ETH treasury panic

    03/07/2025

    Ripple May Someday Buy Up Some Legacy Companies and Put Them Out of Their Misery: Greg Kidd

    03/07/2025

    Positive U.S. Regulatory Environment More Conducive for Crypto Corporate Activity: JPMorgan

    03/07/2025

    The $3,500 E-Scooter Gunning to Be the iPhone of Micromobility

    03/07/2025

    Dow Jones down 500 points on escalating Israel – Iran tension

    03/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Top Optimism DEX Velodrome Launches On-Chain Swap Infra for Superchain

    03/07/2025

    new era for derivative trading on onchain wallet

    03/07/2025

    FTX Reveals Next Repayment Date to Fully Compensate Large Creditors

    03/07/2025

    Gate Surpasses 30 Million Global Users, Accelerating Its Rise as the Next-Generation Crypto Exchange

    03/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Floki’s Valhalla to Take Over Delhi NCR with Real World Campaign

    03/07/2025

    Moku Chief Business Officer shares why crypto gaming is broken — and how to fix it

    03/07/2025

    Wimbledon Stars Lead ‘Flappy Racquet’ Telegram Game Ahead of SCOR Token Launch

    02/07/2025

    Complete Guide to the Web3 Strategy Game

    02/07/2025

    CleanSpark’s Tennessee expansion boosts stock 11% amid local unrest

    03/07/2025

    What Are Bitcoin Miners Waiting For?

    02/07/2025

    MARA Bitcoin Production Slides 25% as Mining Environment Toughens

    02/07/2025

    Bitcoin Network Hashrate Declined in June as Miners Reacted to Recent Heatwave: JPMorgan

    01/07/2025

    Why the XRP Legal Battle Still Isn’t Officially Over

    03/07/2025

    Senate Passed Trump’s “Big, Beautiful Bill” With 51-49 Vote

    03/07/2025

    Ripple’s post-2018 XRP sales to institutional buyers don’t violate SEC conditions

    02/07/2025

    New Developments Regarding the Fate of Terra (LUNA) Founder Do Kwon – There May Be a Glimmer of Hope, Here Are the Critical Dates

    02/07/2025

    Joe Lubin’s Sharplink crashes 91% in two weeks amid ETH treasury panic

    03/07/2025

    Solana’s Seeker Phone Coming in Early August Along With SKR Token

    03/07/2025

    ‘Bitcoin Community Is Not Our Enemy’

    03/07/2025

    Ripple May Someday Buy Up Some Legacy Companies and Put Them Out of Their Misery: Greg Kidd

    03/07/2025
  • MarketCap
NBTC News
Home»Altcoins»Smart Contracts, Smarter Rights
Altcoins

Smart Contracts, Smarter Rights

NBTCBy NBTC28/09/2024No Comments7 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


IOTA Enhances IPR Management

TL;DR:

The IOTA Foundation has developed a solution prototype within the European Blockchain Pre-Commercial Procurement, funded by the European Commission, to streamline the management of intellectual property rights using distributed ledger technology and Smart Contracts for Media. The prototype solution’s IPR Marketplace platform simplifies securing rights, replacing traditional negotiations with automated, transparent digital contracts. This ensures fair, immediate compensation for rights holders and enhances transparency using Non-Fungible Tokens (NFTs).

“Stuck in the Middle With You” by Stealers Wheel in Reservoir Dogs (1992). “Gimme Shelter” by The Rolling Stones in The Departed (2006). “Sabotage” by Beastie Boys in Star Trek Beyond (2016). “Redbone” by Childish Gambino in Get Out (2017). Some of the most indelible moments in recent cinema are underscored by the perfect choice of pop song.

But behind these iconic moments lies a complicated web of intellectual property rights (IPR). When a film features a song, royalties are due to songwriters, performers, record labels, and music publishers, each with different agreements. Additionally, tracking the film’s distribution across various platforms and international markets complicates accurate royalty calculation and distribution. The manual effort required to monitor uses and enforce payments leads to delays and opacity, making it difficult for rights holders to verify fair compensation.

As part of its involvement in the European Commission-funded European Blockchain Pre-Commercial Procurement, the IOTA Foundation has developed a tool for synchronizing payments for intellectual property rights. Specifically, the tool involves managing rights and payments for the use of music in a film. In this blog post, we’ll explain how it works.

Scenario

Meet Samantha Sequel, an accomplished film producer known for her keen eye for storytelling and a penchant for the perfect musical score. Sam is deep into her latest project; however, a vital piece is missing—the perfect song to complement a pivotal scene that could make or break the film’s emotional impact.

This is where our story begins, in the bustling heart of the film industry, before venturing into the cutting-edge world of Intellectual Property Rights management using IOTA’s distributed ledger technology (DLT).

Raiders of the Lost Track: The Quest Begins

Sam’s journey starts with a beautiful piece of music she heard on the radio, which she believes is the missing piece of her film’s emotional puzzle. The song, “Midnight Blue,” not only captures the essence of her film’s theme but promises to enhance the visual experience tenfold. But to secure the rights to use this song, Sam must navigate a complex landscape of stakeholders, including collective rights management organizations (CMOs), publishers, record labels, and the featured artist himself. Each holds a key to the puzzle Sam is desperate to solve.

Mission: Possible – The New Age of Intellectual Property Rights

To achieve her goal, Sam needs two synchronization licenses: one to integrate “Midnight Blue” with her film’s visuals, and one to use the specific recording she fell in love with. This leads her to a complex web of stakeholders: the Publisher who holds the publishing rights to “Midnight Blue”, the Record Label that owns the master recording, the featured artist, whose performance is captured in the song record, and a constellation of songwriters, artist management, and more.

Traditionally, securing such rights would involve lengthy negotiations, stacks of paperwork, and an agonizing wait for confirmations and agreements to be mailed back and forth – all handled by an expensive middleman. However, Sam’s production company has embraced a revolutionary platform: the IPR Marketplace platform. This platform, fueled by Smart Contract for Media (SCM) technology using IOTA Smart Contract Chains, offers a streamlined, transparent process where different participants interact and prepare new contracts. Here, contracts are not just agreements but dynamic digital entities that self-execute and self-enforce the terms agreed upon by Sam and the music rights holders

The Fast and the Curious: The Smart Contract Revolution

Negotiating terms and conditions in the digital age, Sam discovers, is vastly different. First, she opens her Digital Identity Wallet (powered by IOTA and aligned with EBSI standards) and from there logs into the IPR Marketplace platform. Sam then initiates the process by selecting a predefined contract template. She meticulously fills out the terms for both the synchronization license with the publisher and the master license with the record label.

Any adjustments are made in real time, viewed, and approved through digital platforms, minimizing misunderstandings and delays.

Sealing the Deal

Once the terms are set, Sam and the stakeholders digitally sign the contracts. The magic begins when these digital contracts are transformed into a machine-readable Smart Contract for Media (SCM), which uses the ISO/IEC 21000-23 standard and automatically manages payments and royalty distributions. All Sam needs to do is click on “Deploy Contract” in the IPR Marketplace platform, and the SCM – now holding all agreed terms – is deployed on the IOTA Smart Contract Chain, ensuring that the agreement is immutable and secure.

Sam’s use of the song triggers a cascade of automated royalty payments directly from her Web3 Wallet, like Metamask, to the SCM, which then delegates payment to a cascade of other smart contracts, first to the Music Publisher and Record Label and then to the songwriters and the featured artist via the SCM system. This immediate, transparent payment method ensures that all parties are compensated fairly and promptly.

Lights, Cameras, NFTs

Enhancing this already sophisticated system, each work of art (song, film, etc.) and right is encapsulated using Non-Fungible Tokens (NFTs), representing obligations like royalty payments and permissions like the right to publish or synchronize. These NFTs, containing unique URIs, point to detailed data stored securely off-chain in a private distributed storage using the InterPlanetary File System (IPFS), enhancing transparency and traceability. This aspect not only secures the rights for Sam but also immortalizes the contracts in a digital form that is easily accessible and verifiable.

As Sam’s film premieres to a rapt audience, the use of “Midnight Blue” with key scenes receives particular acclaim. Behind this success, the digital tools Sam employed have quietly revolutionized the way intellectual property is managed in the film industry. The use of NFTs to encapsulate rights, ensure traceability, and reduce disputes, is just the beginning. With every stakeholder – from songwriters to featured artists –receiving their due share through transparent, automated processes, the complicated rights management industry stands on the brink of a new, more efficient era.

A Fairer Future

In conclusion, integrating IOTA in the management of intellectual property rights offers a transformative approach to traditionally opaque practices. Looking ahead, IOTA is poised to expand these capabilities even further, with smart contracts not only managing but also automating payments triggered by real-world events, such as a song playing on the radio or being featured in a film. This advancement promises to revolutionize the way intellectual property rights are handled, making the process more dynamic and responsive to actual usage — a true harmony of technology and creativity. Watch this space for coverage of evolving use cases.

Download Our IPR Management Prototype Presentation

Following the success of our first market-ready Digital Product Passport, the recently- announced Eviden Digital Passport Solution, our Technology Adoption Team is spearheading a similar commercialization of the Intellectual Property Rights solution prototype within our ecosystem of partners. Reach out to [email protected] to learn more about these opportunities.


Links in this Article

IOTA Foundation Blog Post:

IOTA Successfully Completes European Blockchain PCP

Websites:

EBSI PCP IPR Marketplace

ISO/IEC 21000-23:2022


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Solana’s Seeker Phone Coming in Early August Along With SKR Token

03/07/2025

What Will XRP Be Like If Ripple Acquires Circle? CryptoQuant CEO, ChatGPT and Grok Answer!

03/07/2025

Sam Altman’s World Raises $135M in Token Sale to a16z and Bain Capital Crypto

03/07/2025

1,388,655 Solana Suddenly Moves On-chain, What’s Happening?

03/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Joe Lubin’s Sharplink crashes 91% in two weeks amid ETH treasury panic

03/07/2025

Solana’s Seeker Phone Coming in Early August Along With SKR Token

03/07/2025

‘Bitcoin Community Is Not Our Enemy’

03/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.