The NFT 2.0 based marketplace for derivative works
The majority of the internet content is a form of derivative content, such as song remixes, subtitled videos, edited images, learning contents, translated books…
In most cases authors do not benefit from their works due to the barrier of the existing licensing processes of derivative content which are manual and time-consuming.
The revenue streams of derivative works are currently not well tracked.
The DareNFT Derivative Work Marketplace will allow creators to upload their works as an NFT and reproducers can request to update, reuse or remix their item, allowing both author and reproducer to earn a financial benefit.
For example, a music artist who has created a song can upload it to the marketplace, allowing a reproducer to request the right to copy and monetize this song.
They would agree a royalty fee which will go to the original artist and this agreement will be formed through a smart contract.
Another example would be if you create a book or learning material, a reproducer could translate and re-sell this in another country and give the original author a royalty for doing so.
The DareNFT 2.0 can track the origins of a derivative works and automate the licensing process.
This will ensure creators are happy as they now have a revenue stream of their derivative work that will be tracked through smart contracts.
DareNFT 2.0 will also offer the rental model which is more suitable for derivate work, rather than outright purchase model that we are currently experiencing with the NFT 1.0.