NFTs, Smart contracts, Blockchains solve inequality while still protecting IP

Blockchains, smart contracts, and non-fungible token standards can play a significant role in automating protections to ensure that all artists have actual—not theoretical—rights, especially disenfranchised creatives victimized first by powerful industry intermediaries, and then by a legal process created by the same industry insiders. Although blockchain’s first use case was to secure and record encrypted peer-to-peer Bitcoin transactions and balances, decentralization is particularly beneficial for verifying and securing data in copyright-intensive industries. Smart contract code can automate contract performance and enforcement and replace manual cpyright transfer termination processes to remove artificially formal barriers to the full enjoyment and commercial exploitation of a copyrighted work. To de-gentrify Black genius, it’s critically important to leverage decentralized and automated algorithmic processes for unbridled creativity. As unique, real-world assets, copyrights that are “tokenized” can be managed and exploited as an NFTs – with provable ownership and scarcity. Creatives could realize increased opportunities for liquidity (as unique assets tends to be more illiquid) and access to global markets. In light of the historical imbalance of copyright ownership and monetization noted herein, these nascent technologies present new opportunities to level the playing field for all artists.