What is the project?
Creativechain will be a decentralized platform catered to the needs of authors, musicians, designers, and artists of all kinds. At the core of the Creativechain project is the development of a blockchain infrastructure that will support the distribution and certification of intellectual property without intermediaries. When creators register their content on the network, authorship, copyright, and license information is indelibly recorded on the blockchain, providing a permanent record of content ownership that is backed up by a notarized certificate.
From copyright to copyleft: A marketplace for intellectual property
Content creators have full control over the copyright and license of their work. Users can use the Creativechain network to display their portfolios and participate in a market for creative content that is supported by a library of ready-made smart contracts. Content creators will be able to monetize their work in a number of ways.
- Transfer of copyright ownership: Content creators can sell the copyright of their content to another user.
- Royalty Fees: Users can collect royalties on their copyrighted content when it is used or accessed by another user.
- Equity crowdfunding: Content creators can crowdfund future projects by offering contributors equity in any future profits the content generates.
- Limited edition: Users can use smart contracts to distribute a limited number of copies of a piece of content.
Incentivising open source content
Creativechain aims to encourage users to register their work under open source licenses in a number of ways. The first is through donation dependent copyrights. When a content creator registers a new work on the platform, they can choose to issue it under a restrictive copyright license that will transition to an open source license when a certain donation threshold is reached.
Creativechain also distributes payments to open source content that generates a high degree of user engagement. 8 percent of crowdsale funds will be set aside to make payments to popular open source content.
Creative chains track the history of how open source content is utilized by users to create derivative works. If a photographer registers a photo on the website and it’s later used as an element in another project then those two projects are linked by the creative chain. For every link that a piece of open source content generates, it will collect revenue in the form of a portion of royalty fees accrued to the derivative works it inspired. The more links a piece of content generates on its creative chain, the more the original creator will earn.
Role of token: Sole means of payment
Token Supply: Genesis supply of 12,226,641 with a cap of 115 million
Amount Distributed in ICO: 7,947,316 (65 percent of genesis supply)
Mainnet Release Date: End of 2017
Consensus Method: Proof of Work (Scrypt hash algorithm)
Emission Rate: Based on the fibonacci sequence, fully mined after 91.9 years
Sale period: March 15th, 2017 to May 1st, 2017
Token Distribution Date: May 2nd, 2017
Minimum Investment Goal: None
Maximum Investment Cap: None