Can you perhaps present something simpler and summarized (yet not as vague as the summary on your second post) to help us decide if we're interested on throwing ourselves into reading that whole whitepaper you put as your introduction post?
We can probably start with what's the app about.
Absolutely. I apologize, a more concise summary of the project is this:
1. Allowing users to tokenized their intellectual property as NFTs.
2. These intellectual property tokens (IPTs) can have the ownership fractionalized.
3. IPT Ownership (IPTO) can be leveraged in order to form business partnerships with users who have the hard/technical skills to actualize the project.
4. These decentralized entrepreneurial ventures (DEVs) are partnerships governed by DAOs.
5. DEVs can also leverage IPTO in order to raise funding for their project.
What problem am I addressing?It may seem simple, but if you go around asking people if they've ever had a great idea for something (
anything) that they never did anything with because they didn't have the skills and/or resources to make it real, an overwhelming majority will reply in the affirmative. InvArch aims to bridge the gap between great ideas and those who have the abilities to make them real, by forming business partnerships between the actors of the process.
Point number 1 and 2 raises my interest and I'd like to know more if you don't mind me probing. For point number 1, wasn't this model already available and offered by a lot of defi/nft projects? Or is there something else that you offered that makes you different?
And for number 2, isn't it quite contradictive? The point of NFT and what's so special about it to set it aside from the previous crypto model (where everything can be sold in smallest fractions someone wanted to buy) was that it's indivisible. An nft should be sold as a whole and each token is unique and different from others. You propose to convert IP into an NFT, which then can be sold in fractions?
I appreciate the questions, thank you.
Regarding point number 1, so far the current models (except for 1, which I'll get to) all focus on either minting NFTs to represent real-world (tangible) assets or most notably as a means to record and verify ownership/the author and authenticity of digital art. There is one project, called IPwe, that is working with IBM to store patents as NFTs (
https://newsroom.ibm.com/2021-04-20-IPwe-and-IBM-Seek-to-Transform-Corporate-Patents-With-Next-Generation-NFTs-Using-IBM-Blockchain); which is very similar to what I am doing.
There are two distinct differences:
1. InvArch seeks to store intellectual property/patents as NFTs, but with a more public and decentralized use-case (eventually, 100% token supply/voting weight will be held by the public), compared to IPwe which is pursuing a corporate and centralized use-case.
2. InvArch's flagship dApp will focus on empowering and connecting regular individuals with one another in order to form partnerships and help spur innovation, vs. focusing on commercializing IP as NFTs within the corporate world.
I'd like to note that I obviously love what IPwe is doing, and was encouraged when I found another project thinking similarly to mine; but at my core, my interest is in deploying a platform for the global community, one where the greater public can work and build a better future - a platform made for the public and eventually completely decentralized and governed/owned by the public.
Regarding point number 2, I completely agree with you; however, I'm not talking about fractionalizing the IPT itself. Just like an NFT, an IPT is non-fungible (of course); however, a slight difference is that you can't mint different editions like many people can/do with NFTs (notably because the technology is so far been used for digital art). There is one IPT, and no linked editions/variations of it. Instead, fungible IPT ownership tokens [IPTO] can be minted. One distinct feature is IPTO is minted with a preset supply cap of 10,000, with each IPTO representing a hundredth of a percent of ownership. In tandem, IPTO is directly pegged to its respective IPT.
How many members of the project team? are you alone? the project started a few months ago, but your twitter account was just created this month and doesn't have any tweets yet.
Currently, there has just been me on the development side. I'm currently in talks with a few individuals, 2 of which will be joining the project. Also, I've secured the project's first *seasoned* advisor (the site will be updated by the end of next week). For the most part, this was a project that I had been working on for several years by myself. A year ago, I had the eureka moment to utilize blockchain technology as the foundation to make everything work and have been incubating and working on the project more heavily since then.
I've been focusing on developing a clearly thought-out and well-developed project before marketing too much. Regardless, I'll be focusing more resources to grow our community presence and bringing someone on to help manage and market things better. I've just been focused on the product itself.
On which platform will ico be released? Do you need a whitelist or kyc？
ICO details are still being finalized (but should be released by August 18th), although we will be requiring identity verification in order to comply with KYC requirements.