The project creates Ethereum based smart contracts, which formalises the process of dividing IP ownership and revenue sharing to help drive democratised and creative teamwork. Currently it is being trialled for games development, but it also has potential for use in the wider creative digital industries and beyond.
This technology could be highly valuable in any collaborative work that requires a multifaceted blend of inputs and unpredictable outcomes, in areas such as virtual and augmented reality through to the creation of music.
Initially the UK Games Fund has tested the prototype with a group of 20 creative teams who are part of its graduate ‘Tranzfuser’ funding programme. Real-world feedback from those currently developing games will be essential to its development and will help identify opportunities for its application across other sectors.
Digital Catapult and the UK Games Fund are looking to work with other partners from the creative or manufacturing sectors, where a smart contract could be applied to solve a similar issue. Digital Catapult is creating a sandpit environment to facilitate further innovation around the smart contract concept.
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Smart Contracts for IP Assembly: A prototype that’s encouraging talented individuals to work outside their circles of trust and create new intellectual property (IP).