IP-NFTs & IPTs, designed to supercharge scientific discovery.

What is an IP-NFT?

Intellectual Property Non-Fungible Tokens (IP-NFTs) are a revolution in how we value and transact upon scientific discoveries. Their novel structure unifies intellectual property, underlying data, and economics into one programmable, transactable, digital unit. With IP-NFTs, collectives of enthusiastic contributors are able to pool resources, connect with researchers, and fund science for the betterment of the healthcare industry and its patients.

What are IPTs?

IP tokens (IPTs) are created from a parent IP-NFT. They are the natural next step in decentralizing drug development, allowing individuals to directly interact with, and govern the IP produced by world-class scientists.

Imagine that you are at a stadium, watching your home sports team play a match (the IP-NFT). Thousands of spectators are cheering on the players, the scientists. Each spectator bought a ticket, which funds the game. By purchasing IPTs, you can get out of your spectator seat and onto the field and become a coach or manager, calling the shots. This means you can participate in decisions such as what plays (experiments) are run, which players to substitute (scientists to get involved), which sponsorship deals are signed (licensing rights), and how the proceeds of those sponsorship deals are used. The entire stadium stands unified in a single common goal - seeing their team succeed.

How it works

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Minting of the IP-NFT:

1. The researcher uploads the relevant information to the confidential Research Application Form (project data, team, commercial feasibility)
2. The funding entity, a DAO, contacts the researcher and due diligence begins.
3. After questions are answered and feedback is given, the project is presented to the greater community, who vote on whether to fund the project.
4. Upon approval, a Research Agreement is signed between the DAO, and the company or researcher’s technology transfer office (TTO).
5. The IP-NFT is minted and rights are transferred to the DAO in exchange for funds, transferred from the DAO to the researcher.

Tokenizing IPTs

1. When additional funding is needed, the IP-NFT can be used to mint (tokenize) IPTs.
2. Money raised from the sale of IP tokens funds the research.
3. By holding IP tokens, individuals gain governance rights over the IP produced by the underlying project.

Moving to Market

1. As the research evolves, progressing through the various stages of drug development, other stakeholders join the journey.
2. Patient groups are recruited for clinical studies. Small labs and CROs help to produce data. Strategic capital partners (VCs) and pharmaceutical companies funnel funds into the project in exchange for IPTs. This is all mediated by the original holders of the IP to ensure the ethical and fair distribution of ownership.
3. The final IP is bought out by a pharmaceutical company, on terms mandated by the DAO & relevant stakeholders, and enforced by smart contracts on Ethereum.
4. Therapeutics are produced, and medications hit the shelves.
5. Patients are able to access the ground-breaking cures that they helped to usher into the world. For the first time, empowered patients are able to effectuate and own their own medical treatments.

Benefits

Access to research funding: By harnessing the power of a community, scientists unlock a new universe of potential funding, expanding the scope and potential of their research.

Collective Intelligence: By connecting diverse minds across the globe, individual and previously disparate efforts are aggregated into a powerful collective endeavor for scientific advancement.

Pioneering the Creator Economy: Through IP-NFTs & IPTs, researchers transform from mere observers to active participants in the creator economy, benefiting directly from the value they generate.

Patient Engagement and Collaboration: IPTs establish a vital bridge between researchers and patients, fostering a patient-governed research ecosystem.

Security: Ownership and governance is verified, secure, and transparent, thanks to the trust and reliability of blockchain technology.