How DOC Copyright tackles some NFT design issues.

We built our DOC Copyright NFT solution because we believe that Blockchain NFT is a game changer that will impact many industries, starting with the art and creator economies, but not only, given the countless use cases of NFTs that have not yet been discovered.

Unfortunately, NFTs that can be built (minted) in many specialized marketplaces have some major design issues that need to be addressed, primarily around copyright, ownership and storage of the original work.

In this article, the author describes some key design issues that need to be resolved for him, the storage of the work itself, the protection of the asset, the buyer’s right or DRM (Digital Right Management) and ownership to be bound to identity allowing coveted digital assets to be inherited or transferred from one owner to another or to be recovered in the event of loss or theft.

In this one, about the impact of NFTs in the art market, the author discusses the security of the NFTs. He notes that “the traditional infrastructure for the art market, dominated by dealerships and auction houses, already seemed dated in an increasingly online and globalized world, where demand in emerging markets for this asset was only going to grow” but he adds that “As things stand, however, the current (NFT) infrastructure has too many flaws and too much potential for user error for it to realistically act as an alternative to the current methods for verification, distribution, auction and certification of ownership”.

He points out the fact that “Today, there is no way of knowing for sure who the real human creator was by looking at the data contained in an NFT. The result is a growing number of NFT forgeries and cases where a scammer creates an NFT and presents it as work by a particular known artist… and when an NFT has significant associated content or data, such as an image, that data is not stored on a blockchain. Rather, the NFT contains a link to the data, most often through a hyperlink on the internet. If the data (e.g., image) at the end of that hyperlink were to change or disappear… there is no way to protect the permanence of the NFT data. Shocking, but true. That means that the actual image or data associated with the NFT could be changed or deleted, thereby destroying the value of the NFT. There’s also the potential for user error”.

He ends his article with this “In the physical world of art, the artist signs his pieces to enable validation of authenticity, and the owner of the art piece ensures its permanence by securely storing it somewhere they trust. For NFTs to achieve long-term success, blockchain technology must enable a similar capability and do so in a decentralized, self-sovereign way”.

How DOC Copyright answer these concerns, by design?

Original work forgery prevention, permanence protection, ownership authentication and transfer with digital rights management become critical in a world engaged in a fast transition to digital and where NFTs will definitively play a major role in the management and exchange of things of value.

In other words, copyright registration, monetization and management need to be dusted off for a world that opens up to NFTs.

DOC Copyright NFT customizes some of the major blockchain and NFT solutions developed by Doconchain.

First you sign up while registering your tamper-proof digital signature which will be linked to a unique (signature)NFT. Then you can register your original work with evidence on the blockchain ledger and get your ‘copyright NFT’ (blockchain copyright non fungible token). Once the operation is completed, you will have access to a timestamped registration certificate and its passport which gives access to verifiable elements and an audit trail. The passport also provides access to a summary of the records signed by the author/first owner of the work and the history of the successive work owners when the ©NFT is transferred.

Regarding some of the above authors ‘concerns, the service enables to identify the copyright owner, store the original work and secure it, using a DFMS system (Decentralized Files Management Storage).

DOC Copyright NFT offers additional services such as the possibility to update the copyright registration anytime with new evidences or new work updates benefiting from timestamps in the immutable blockchain ledger. It also allows to create special NFTs (sub © NFT), from the original copyright NFT, which can be used when the owner want to create a special digital edition of its work that can be sold on a NFT marketplace or an auction house. The buyer will be able to receive, in addition to the digital edition minted NFT, the special sub ©NFT (for the special digital edition) with its certificate and passport that can be later transferred to a future buyer.

The service also allows owners of DOC Copyright NFT certificates, to transfer them (via the © NFT) to new owners via a documents digitally signed by the 2 parties and recorded in the blockchain ledger and on the passport audit trail.

More solutions for monetization, based on licenses and royalties NFT managed, and copyright NFT tokenization are in development and will be soon added to the service.

For now, you can already use DOC Copyright NFT to protect your work, secure its storage, digitally monetize it and manage/transfer the copyright registration certificate and verifiable elements associated, via its © NFT.

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