IBM and IPwe to Release Intellectual Property Patents in NFT Form – Bits Media

Tech giant IBM and blockchain-based patent platform IPwe plan to issue IP patents in the form of non-fungible tokens (NFT).

In a joint statement, the companies note, that the tokenization of rights to a technology or brand It will allow it to be much easier to sell these rights and earn on this. Besides, It will be easier for companies to assess the cost of their patents.

“The use of NFT for patents will create completely new ways of interacting with intellectual property rights. Not only large corporations will benefit from this, owning a significant number of patents, but also a smaller company and even individual patents holders. We hope, that NFT patents will launch new services from financial companies, which will help the rapid development of a new class of assets ", -It is noted in the press release.

The IPWe platform will begin testing patents in the form of NFT already in the II quarter of this year. IBM will participate in the pilot launch of tokens, as well as "other large patents holders".

As emphasized by IPWe General Director Erich Spangenberg (Erich Spangenberg), NFT should be perceived as a certificate of property, much more convenient, than a paper document. Besides, Tokens can be divided into parts - in this way, investors will be able to buy only part of the patent.

Recall, that in early April, South Korea announced the development of an application on the IBM blockchain, In which data on vaccination of citizens of the country from Covid-19 will be stored.