V-Art Protocol is a technology for IP licensing. It helps brands and AI tools to automate, track and monetize IP efficiently.
Current Status
V-Art is a B2B-tech startup with Ukrainian roots, focused on making IP rights licensing easy and effective for creative, tech and luxury brands. Accelerated by the L'Oréal Group and Meta.
V-Art Protocol launched from closed Beta in March 2023. 212 brands, platforms and marketplaces in the pipeline of integrating the Protocol. $35K MR
Market
Art, fashion, luxury, music, gaming brands and creators.
Problem or Opportunity
We found a niche market, capable of a big disruption - IP management. Art, fashion, luxury, music and gaming are drowning in billions of losses or missed opportunities to monetize on their IP.
Problems we solve: licensing too long and complicated, usage of IP and digital assets + potential infringements are not tracked by creators and brands, interoperability not being provided for buyers (i.e. cannot use on social media, AR/VR, Metaverse, games, etc).
Solution (product or service)
V-Art Protocol is a technology for licensing creative assets with IP rights verified and managed on the Blockchain. It is a simple, safe, and flexible way to automate licensing and monetize IP for any creative, tech, or luxury brand. Our technology can be integrated to any website, marketplace, mobile app or internal IP management system, resulting in easy and effective licensing and monetization for brands and creators.
Competitors
Current: non-blockchain licensing (DocuSign, paper agreements by legal departments). How we cope: easy onboarding, spare time and effort, while still having a space for your lawyer to have a say, what set of licenses to launch on the market.
1) Digital certification & NFT wrapping solutions. Cover either digital certification and proof-of-authorship part, which bring additional value or so called “wrapping” of existing NFTs, or royalties and assignation of different roles to the users (basically differentiating between “author” and “owner”). Do not provide full cycle of a deal (fr om transaction to actual consumption, struggle to add actual value & cross-platform usage, solve issue with NFTs being considered as securities, provide multi sales and ready-to-go solution
2) NFT marketplaces. Currently we see them as partners for the V-Art Protocol’s connection as an additional utility for monetization and IP rights transparency. Current solutions have both the legal drawbacks and very limited amount of options for the sale of creative assets or licensing, thus, providing rights temporarily. Also AR and VR utilities and really immersive and interactive experience with the assets are rare to find, as the market focuses on jpegs to be viewed only from the NFT wallet.
3) Old-school paper docs, wh ere the agreement is not directly tied to the file, digital asset, which is being purchased, so does not provide any options for tracking the further use or automatization of the process.
Potential: Large-scale brands and NFT platforms, creating same solutions. How we cope: connecting our solution is at least 6m faster, cheaper and without commissions + we have token accrual program, similar to cashback.
Advantages or differentiators
Status quo and how we stand out: current lack of industry standards has permitted widespread abuse and confusion of intellectual property (IP) rights across digital creative industries. For example, many NFT (non-fungible token) owners do not know what IP rights they have (if any) when buying an NFT of digital art. Many owners are not fully aware of what they truly own and, as importantly, are not provided with the ability to integrate their assets cross-platform. This reality has also limited the growth of NFT, metaverse, gaming, music, fashion and art markets to name a few.
On the other hand, today’s existing licensing solutions are too complicated, inefficient, and expensive to work across multiple platforms, protect IP rights, grow revenue, and fully satisfy the needs of digital asset creators, buyers and sellers. A more simple, safe, and flexible licensing approach is needed – one that can be customised to meet the specific needs of digital asset creators, buyers and sellers.
That’s where our team with the expertise in IP law and immersive technologies comes with the V-Art Protocol. Unlike others, it combines legal, technical and financial features into the most flexible licensing solution that monetizes any creative digital asset, works on any platform, and protects any IP right. V-Art Protocol can be connected by any brand, project or single creator to their websites, platforms, marketplaces, etc.
Differentiators: full IP management tracked by your brands, multiple monetization and commercial, creative licensing fully automated. Cross-platform integrations support. No commission fees. Loyalty program with cashback for vendors and buyers.
Finance
Paid integrations of the V-Art Protocol, commission fees and tokenomics.
Business model
Installation fee + subscription
Money will be spent on
Team expansion, supporting other chains, integration from Art, Fashion, Luxury & Gaming industries to AR/VR, Metaverses & avatar platforms, prepare the tech and legal ground for V-Art token loyalty program
