The world of digital assets and blockchain technology has seen a rapid evolution in recent years, with non-fungible tokens (NFTs) and other tokenized assets becoming increasingly popular.

or a long time, I have pondered over the concept of true ownership. In 2014, when I chose to utilize blockchain technology to grant authentic ownership of in-game assets through http://www.spellsofgenesis.com, II was well aware of the numerous questions this decision would raise. Although tokenizing items offers the freedom to trade, gift, and sell them as one would with physical assets, the nature of digital asset ownership still remains unclear. If an on-chain token serves as a digital certificate, what regulations govern this certificate? How does ownership change when a user migrates from one blockchain to another? And what are the implications when a creator issues multiple NFTs on different chains pointing at the same unique asset ?

Since I’m very involved to clarify ownership definition and as well to protect people from misunderstandings and scams I decided build Wakweli http://www.wakweli.com. Wakweli is a solution protect people from intellectual property theft and scams, by empowering the community to point out bad actors. But for that we need to understand more what a tokenized asset (NFT) really represents.

In this landscape, Ownership Recorded on Blockchain (ORB) has emerged as an innovative concept that encompasses a broader range of assets and tokens. While NFT’s stands for Non Fungible Tokens only, ORB concept covers more usecases when a tokenized asset can be wrapped or fractionalized or semi-fungible. As a result, the need for a comprehensive and tailored licensing agreement has become essential. In this article, we will delve into the specific features of a unique ORB License Agreement and discuss the significance of these distinct elements.

The ORB License Agreement allows the creation of new tokens on a different ledger, as long as a 1:1 ratio is maintained, and the original token is rendered unspendable or destroyed. This provision is crucial for maintaining the integrity and scarcity of the underlying asset while enabling users to navigate between different blockchain ecosystems.

The Agreement also addresses fractionalized tokens, which are an emerging trend in the digital asset space. The rules clearly define that ownership of the underlying asset is only granted to those who own at least 1 full ORB. This stipulation ensures that fractional owners do not claim rights to the asset, thereby preserving the rights and privileges of full owners.

The royalties mechanism is a vital part of the ORB License Agreement. The Agreement mandates that the royalties mechanism be preserved during secondary sales or when the ORB is migrated, wrapped, or fractionalized. This provision ensures that creators continue to receive fair compensation for their work, even as the ORB changes hands or formats.

The Agreement grants ORB owners the right to create and issue derivative ORBs of the asset, subject to certain conditions. This feature empowers the ORB owner to explore new creative avenues while ensuring that the derivative projects maintain the original asset's brand integrity. Furthermore, the Agreement establishes a governance system for derivative projects, where each ORB owner is granted voting rights proportional to their ownership.

Unlike other license agreements, this ORB License Agreement includes a royalty exemption for derivative works. This exemption encourages the creation of new derivative projects without the burden of additional royalties, fostering a vibrant ecosystem for creative exploration.

The Agreement requires that the License Agreement be visible and accessible to potential transferees during the transfer of the ORB. This provision ensures that new owners are aware of their rights and responsibilities under the Agreement, promoting transparency and reducing disputes.

In a novel approach to dispute resolution, the ORB License Agreement includes the option to use a decentralized arbitration system, provided that both parties agree on the maturity and reliability of such a system. This feature highlights the forward-thinking nature of the Agreement, embracing the potential of decentralized systems for fair and efficient conflict resolution.

Find the first draft of the ORB licence here.

https://nftstorage.link/ipfs/bafkreicuhvg7z7nzxu636l3m6jffbndzt4zuerfsaqsc3aomuaiwjh5zve

ipfs_url : ipfs://bafkreicuhvg7z7nzxu636l3m6jffbndzt4zuerfsaqsc3aomuaiwjh5zve

Don’t hesitate to give your input on social medias

LinkedIn : https://www.linkedin.com/feed/update/urn:li:activity:7048040994939789312/

The unique features of this ORB License Agreement cater to the specific needs of the evolving digital asset ecosystem. By addressing novel concepts such as new tokens, fractionalization, derivatives, and decentralized arbitration, the Agreement stands as a pioneering example of how licensing agreements can adapt to accommodate the ever-changing world of blockchain and digital assets. These innovative provisions not only protect the rights of creators and owners but also foster an environment that encourages creativity, collaboration, and growth in the digital asset space.

The world of digital assets and blockchain technology has seen a rapid evolution in recent years, with non-fungible tokens (NFTs) and other tokenized assets becoming increasingly popular.

or a long time, I have pondered over the concept of true ownership. In 2014, when I chose to utilize blockchain technology to grant authentic ownership of in-game assets through http://www.spellsofgenesis.com, II was well aware of the numerous questions this decision would raise. Although tokenizing items offers the freedom to trade, gift, and sell them as one would with physical assets, the nature of digital asset ownership still remains unclear. If an on-chain token serves as a digital certificate, what regulations govern this certificate? How does ownership change when a user migrates from one blockchain to another? And what are the implications when a creator issues multiple NFTs on different chains pointing at the same unique asset ?

Since I’m very involved to clarify ownership definition and as well to protect people from misunderstandings and scams I decided build Wakweli http://www.wakweli.com. Wakweli is a solution protect people from intellectual property theft and scams, by empowering the community to point out bad actors. But for that we need to understand more what a tokenized asset (NFT) really represents.

In this landscape, Ownership Recorded on Blockchain (ORB) has emerged as an innovative concept that encompasses a broader range of assets and tokens. While NFT’s stands for Non Fungible Tokens only, ORB concept covers more usecases when a tokenized asset can be wrapped or fractionalized or semi-fungible. As a result, the need for a comprehensive and tailored licensing agreement has become essential. In this article, we will delve into the specific features of a unique ORB License Agreement and discuss the significance of these distinct elements.

The ORB License Agreement allows the creation of new tokens on a different ledger, as long as a 1:1 ratio is maintained, and the original token is rendered unspendable or destroyed. This provision is crucial for maintaining the integrity and scarcity of the underlying asset while enabling users to navigate between different blockchain ecosystems.

The Agreement also addresses fractionalized tokens, which are an emerging trend in the digital asset space. The rules clearly define that ownership of the underlying asset is only granted to those who own at least 1 full ORB. This stipulation ensures that fractional owners do not claim rights to the asset, thereby preserving the rights and privileges of full owners.

The royalties mechanism is a vital part of the ORB License Agreement. The Agreement mandates that the royalties mechanism be preserved during secondary sales or when the ORB is migrated, wrapped, or fractionalized. This provision ensures that creators continue to receive fair compensation for their work, even as the ORB changes hands or formats.

The Agreement grants ORB owners the right to create and issue derivative ORBs of the asset, subject to certain conditions. This feature empowers the ORB owner to explore new creative avenues while ensuring that the derivative projects maintain the original asset's brand integrity. Furthermore, the Agreement establishes a governance system for derivative projects, where each ORB owner is granted voting rights proportional to their ownership.

Unlike other license agreements, this ORB License Agreement includes a royalty exemption for derivative works. This exemption encourages the creation of new derivative projects without the burden of additional royalties, fostering a vibrant ecosystem for creative exploration.

The Agreement requires that the License Agreement be visible and accessible to potential transferees during the transfer of the ORB. This provision ensures that new owners are aware of their rights and responsibilities under the Agreement, promoting transparency and reducing disputes.

In a novel approach to dispute resolution, the ORB License Agreement includes the option to use a decentralized arbitration system, provided that both parties agree on the maturity and reliability of such a system. This feature highlights the forward-thinking nature of the Agreement, embracing the potential of decentralized systems for fair and efficient conflict resolution.

Find the first draft of the ORB licence here.

https://nftstorage.link/ipfs/bafkreicuhvg7z7nzxu636l3m6jffbndzt4zuerfsaqsc3aomuaiwjh5zve

ipfs_url : ipfs://bafkreicuhvg7z7nzxu636l3m6jffbndzt4zuerfsaqsc3aomuaiwjh5zve

Don’t hesitate to give your input on social medias

LinkedIn : https://www.linkedin.com/feed/update/urn:li:activity:7048040994939789312/

The unique features of this ORB License Agreement cater to the specific needs of the evolving digital asset ecosystem. By addressing novel concepts such as new tokens, fractionalization, derivatives, and decentralized arbitration, the Agreement stands as a pioneering example of how licensing agreements can adapt to accommodate the ever-changing world of blockchain and digital assets. These innovative provisions not only protect the rights of creators and owners but also foster an environment that encourages creativity, collaboration, and growth in the digital asset space.