Method of Copyright Protection and Royalty Distribution Based on NFT and Smart Contracts
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United States of America
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Issued Date -
Feb 6, 2025
app pub date -
Aug 2, 2023
filing date -
Aug 2, 2023
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Abstract
The invention discloses a copyright protection and royalty distribution method based on a NFT and its associated smart contracts. The smart contracts govern the initial minting, derivative minting, and trading of the NFT as well as the royalty distributions of every trades in the lifetime of the NFT, This method uses blockchain and NFT technology to manage and protect the copyright of digital music. The ownership and trade transaction records of the NFT are verified through blockchain technology and the distribution of digital music royalties are automated via smart contracts. According to the method of the present invention, the copyright of digital music can be made more transparent and secure, the distribution of royalties can be more just and efficient, and copyright infringement and improper resale can be avoided.
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