• Albany Flores

The future of intellectual property is in the NFTs

the highly anticipated sequel to the American classic “Top Gun: Maverick,” starring Tom Cruise, Val Kilmer and Jennifer Conelly, was breached in early June 2022 when, in the midst of the film’s successful theatrical release worldwide, its production company, Paramount Pictures, was sued for intellectual property and copyright infringement.

According to reports, the lawsuit was filed on Monday, June 6 in federal court in Los Angeles, California, and was brought by Soshy and Yuval Yonay, widow and son of Ehud Yonay, the Israeli journalist on whose story “Top Gun”, the original 1986 film directed by Tony Scott, was based.

The main argument of the Israeli author’s heirs is based on the fact that, by not requesting permission to produce a sequel to the film knowing that the reproduction rights had already expired, Paramount violated his family’s copyrights and intellectual property rights.

While the Yonay family announced that they will seek their respective economic retribution for the intellectual rights of the story, Paramount Studios assured that the lawsuit has no legal basis and that they will defend themselves “vigorously”.

The case, of course, is just one of millions of lawsuits for the respect and recognition of intellectual property around the world. In fact, the World Intellectual Property Report 2022, published by the World Intellectual Property Organization, reveals that intellectual property is historically one of the most violated possessions and that the Covid19 pandemic aggravated the situation, but that the solution to the problem lies in technological innovation and disruptive technologies.

Although the first centralized digital platforms did not guarantee the protection of intellectual property, even encouraging piracy and illegal reproduction of a work without the author’s consent, the advances of the last decade have allowed Google, YouTube or Facebook platforms (to name a few) to begin to restrict, protect and remunerate intellectual property and copyrights.

Still, the gap to reduce intellectual property violations remains significant and negatively impacts the world’s creators and intellectual industries.

With Blockchain technology’s smart contracts, however, that reality will change completely. Thanks to our decentralized Intellectual Property management application, we at DelNorte are transforming the copyright industry (trademarks, patents, utilities, etc.) benefiting millions of people around the world.

Our technology registers, manages and certifies intellectual creations, creates an ownership declaration copy of an intellectual property object and sends a guaranteed notification letter to its counterpart. Each certificate is hosted in a smart contract (NFT) on our platform, so it cannot be modified or altered.

In addition, from our partnership with the NEAR blockchain, DelNorte users will no longer have to fight for their intellectual rights, as NEAR’s consensus algorithm will order and facilitate the processes.

NEAR’s sharding system allows several e-wallets to participate in a single smart contract, so all parties involved in a deal will be covered in only one contract and the NFT will pay the corresponding commissions to each participant automatically, without the need for complicated transactions.

For that reason, to avoid confusion, violations and disagreements such as what happened between Ehud Yonay’s heirs and Paramount Pictures, more and more artists and intellectual creators prefer to register their productions through blockchain smart contracts. NFTs are the future of intellectual property.

#blockchain #tecnologiablockchain #nfts #intellectualproperty #copyright