Version: 1.0, last update: Nov 1, 2022
Web2 enabled creators worldwide to market and license their stock digital media to a global audience - but at an increasingly high cost. Centralized platforms held promise for creator economies but have fallen short by continuously decreasing creator revenue share and control while consolidating to the point of almost complete monopolization by a few big players.
Licens brings back control, transparency, and fairness with a Web3 creator economy. A decentralized platform enables P2P interactions powered by the blockchain and high-efficiency licensing transactions via smart contracts. Through NFTs, Licens renders an automated License-to-Earn system that cost-effectively automates royalty distribution and rights management. Token incentivization mobilizes Licens users to collectively protect against copyright infringement. Finally, the decentralized blockchain ledger allows for a transparent database, distributed storage, and proof of digital ownership for creators and their customers alike.
As the Licens team is in the first age of development, we want to transparently express that this is just the beginning of our Licens journey. Many details, such as DAO voting and many unknowns, will be revealed in future whitepaper updates. New features will be added in the future as we progress with our community through all of the ages of development.