Are you already familiar with the first-generation DRM technologies introduced several years ago? The most advantageous one was DRM-packaged files, which enabled consumers to confirm the genuineness of the content obtained from the source.
For instance, in the case of a scientific journal, users could ensure that there was no alteration. But, in 2022, although the purpose has some similarities, there is less functionality. It assures the authenticity of an object for buyers, though it does not guarantee uniqueness. In this respect, we can recall the non-fungible tokens with records saved on the blockchain. Let’s now discuss more on NFT for Digital Rights Management.
What is Digital Rights Management?
In the current digital world, you may have heard about several incidents of pirating copyright works. The rate of piracy is on the rise as online content services have become easily accessible. The content reaches different sites without the protection of rights. It causes a problem for content providers.
Blockchain technology has been used for Digital Rights Management to get rid of this issue. DRM ensures reliable and high-end content protection while providing a violation contact service.
Digital Rights Management is helpful because of its valuable features. Some DRM features include-
- Users cannot save, share, and edit your content
- They cannot print the content
- DRM prevents them from having a screenshot of the content.
DRM lets users know about intellectual property and copyright. It helps in creating the best way for good technologies and licensing agreements. Authors can also retain ownership of their creations and protect their income streams. DRM also secures files and keeps them private.
Copyright Issues and NFTs
NFTs are metadata files encoded with a work; not always subjected to copyright protection. They are also applicable to the work published in the public domain. Something that can undergo digitization is convertible into NFTs. The original version is essential for the process and for creating a combination of the contract address and token ID. In fact, NFTs do not have much relation with copyright.
Still, there is an increasing interest in non-fungible tokens in terms of copyright protection. Several works have been traded as NFTs because they are copyright protected. But it is not much clear what you will receive after buying NFTs.
Are NFTs a Remix Of DRM?
Although DRM and NFT have no difference in particular digital content, they differ from each other. DRM refers to a mechanism for technical protection. Different players in the industry leverage this mechanism to tackle the challenge of illegal file sharing. Furthermore, NFTs can recreate the uniqueness and the appearance of inadequacy. Moreover, DRM not only modifies content but also controls access to it.
NFT- How Does It Help With DRM?
Non-fungible tokens play an important role in verifying unique items like digital ownership certifications and digital arts. DRM platforms like RAIR rely on NFTs for digit rights management. The company deals with NFT digital rights by taking advantage of blockchain technology. It also uses middleware encryption that triggers digital scarcity.
In fact, a platform using NFTs for digital rights management encourages the developer to upload the source code, books, music, and video. Thus, creators have the opportunity to possess, authorize, and control the distribution of works in this world.
It lets the company raise a good amount of money from royalties and trades. It encouraged owners to take 90% of revenues. The rest 10% will be managed by node owners. So, NFTs will work like a store of content and help with the monetization of work introduced to the nodes.
How Does NFT For Digital Rights Management Work?
Content developers have the opportunity to upload works like music, code course, and videos onto the platform. These things will remain stored inside the NFT. It is also easy to conceive new tokens for every piece of content uploaded.
That is why it enables creators to license the work and distribute it through a streaming link accessible from different browsers. Content developers can control the work distribution process. Moreover, they will be able to earn money through resales, sales, and royalty payments.
Why Should You Implement NFTs To Manage Your Digital Rights?
You know that 90% of the ROI will go to the owners, and 10% of the remaining amount will be for node owners. It will be available as tokens for providing streaming and hosting services. However, smart contracts play an important role in managing fees on the DRM platform. There has been the involvement of smart contracts since the use of NFTs.
In recent years, direct implementation of royalty logic into the Ethereum network cannot be done easily because of the higher price of gas.
DRM Integrated with NFTs
You can find an integration of DRM and NFTs. For instance, there are eBook schemes for using NFT Digital Rights Management to identify ownership. It is also similar to the conventional DRM scheme. However, identifiers and transaction records will be on the blockchain and not on the private database of the vendor.
Such schemes help with alienations like a giveaway, resale, and loan. However, standard schemes for DRM would be able to do it. For instance, Amazon’s Kindle facilitates e-loans in some circumstances. Both Readium LCP and Adobe’s DRM are effective for library e-lending. As there is no owner in the blockchain network, some providers have claimed that blockchain-based eBook markets depend on vendors.
Can You Use NFTs For Other Types Of DRM?
You can use NFTs as a type of registration because blockchain works as an ownership record. They also act as the mode of checking the authenticity. Thus, someone with good technical knowledge and proper tools can develop tokens on their own. Those tokens may include information added by the author. But, one problem is that anyone may make ownership claims erroneously.
It is no doubt NFT for Digital Rights Management will play a prominent role in the coming years. NFTs will also take the digital rights management process to a different level. By creating a good DRM platform, they will remove third-parties and make the transaction process smoother and easier.
DRM platform development will open a new path of innovations, such as rapid blockchain systems. You can hire our blockchain developers to create this DRM platform based on NFTs. We have become one of the trusted NFT development companies in India, and our robust NFT-based digital rights platform will endure catastrophic failures. As blockchain is known for transparency, we integrate these features into our ecosystem.