iLicensing

The traditional process of intellectual property licensing is cumbersome and takes too much time for both licensor and licensees. Through Blockchain and NFT intellectual property tokenization, both artists and manufacturers can reach an agreement in fast and straightforward manner. With iLicensing, the NFT license creation and purchase both take minutes, and smart contract protocol ensures the license usage and ownership terms.

On another hand, Web3, NFTs and wallets are also hard to understand for people who are not savvy in blockchain.

Aegas was tasked to establish fast tokenization of digital art into multiple license instances differentiating by usage terms. Besides creation of NFTs, the platform should establish license agreement signature, verification of license ownership and the license expiration enforcement mechanics, all enforced through blockchain.

Aegas has enabled the iLicensing team to create the new NFT licenses automatically for artists. NFT licenses differ in usage specifics, such as products, themes, usage areas and the quantity for a specific type of NFT license. Through the platform, more than 1000 unique NFT licenses can be created in minutes with tailored metadata generation for each NFT.

Aegas also has created a license signing decentralized application for the manufacturers to confirm their identity and ownership and request a license signature.

Through smart contract protocol and off-chain custom solution, the state of the metadata of the license reflects the current expiration and usage. Both artists and manufacturers are notified when the license expires. In case of malicious usage of the license, iLicense team is provided a mechanics to retrieve and destroy the NFT license, thus terminating the agreement.