Name of Project: Datavest - Monetizing Intellectual Property (IP)
Proposal in one sentence:
Datavest is a smart protocol that aims to monetize intellectual property or Meta-info by enabling authors, writers, musicians, and other creators to tokenize (data tokens) and earn from their intellectual content both offline and online.
Description of the project and what problem is it solving: (You can give more details in “proposal details” section farther down.)
The turn of the 21st century has seen an unprecedented surge in the ownership of Intellectual property by creatives. As such, Global giants such as Youtube, Amazon, Facebook, Instagram, etc are at the forefront, leveraging and exploiting the benefits of this market. These giants however have multiple challenges that are not only noticeable but have been proven to be a great discomfort to their users.
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They are centralized and hence the Platforms have the right to censor content based on political, religious, racial affiliations, etc. Thereby silencing the voice of Truth.
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Multiple authors/content creators cannot claim ownership for a given content. It has to have a sole owner. There is no scope of more than one author/creator/teacher contributing towards the same content
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There is currently no method or system for referencing earlier (version control) works or data sets that contributed to making a project and hence giving previous authors revenue eliminating the possibility of copyright infringement.
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Once published, it’s difficult to modify the content or publish new versions of it as the subject/technology evolves while retaining ownership of the initial IP.
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Traditional systems that are available only generate revenue when the data itself (first data version) is utilized.
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Our platform aims in solving all of these issues by creating a platform where data content is published using our decentralized system. AI and a versioning system are maintained using blockchain. The data are published on our website (our fork of OCEAN MarketPlace)
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Our system gives provision for collaboration between several authors who are able to share proceeds from their work in a ratio agreed by the authors. Our platform gives room to alter this ratio by the team of authors or data owners. This is so in order to give room for other contributors, charities, organizations, or foundations to have royalties on content published using our platform.
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Our platform gives room to reference previous data sets, contents, and works and hence, the authors or owners of the data will automatically earn their due share from these new works and at the same time, the users will eliminate the dangers of copyright infringement simply by referencing earlier works already in our platform!!!
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Our platform gives data content owners the right to update, edit and expand the scope of already uploaded content.
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There are options of staking on data published by other creators thereby creating an income stream without actually utilizing the data which is not an option in traditional methods.
Grant Deliverables: (Target deliverables for the funding provided.)
*** Bu**ild a web page to facilitate the onboarding process for prospective content merchants and prospective buyers/users.
- Create Marketing Materials to target Musicians, Authors, and creators as early adopters - 1 pager, short explainer videos.
- Design the framework for a copyright management dashboard for Creators and an end-user interface.
- Add 50 early contributors to the whitelist with a comprehensive referral program finalized for viral growth loop.
Which category best describes your project? Pick one.
- Build/improve applications or integrations to Ocean
What is the final product?
Datavest is a decentralized and censorship-resistant content platform featuring a marketplace for monetizing content produced by content creators who earn data tokens, allowing the community to utilize their Intellectual Properties (IPs) while getting value for it in any way that is deemed fit without any intermediary actions. These IPs may include lyrics, story poems, videos, etc.
The core of the platform will be built on Ocean Protocol ensuring ethical, seamless and legal usage of enlisted content. A typical user will be able to simply connect to the marketplace and seamlessly pay for the rights to use any of the contents enlisted on the linked marketplaces using the native platform tokens.
**Question on “value add” criteria: which one or more of the criteria will your project focus on? Why do you believe your team will do well on those criteria? **
Our entire system which is built on the Ocean protocol, a new data-token will be (ERC20 Token) will
Built with OCcean protocol, A new Data-token (ERC20 Token) will be created for every new published video and course. OCEAN token will be needed for buying these courses. Similarly in the DAOStack section, GEN tokens will be used for boosting a proposal.
ROI for OCEAN can be calculated by the new addresses added to the ecosystem and the value staked by created content (corresponding Data Tokens) which is not yet cashed out.
Illustration:*
Value staked by content per month/unit address = 100 OCEANS
Estimated number of address holders (that meet the criteria)/month = 1000
Number of staked value per month = 1000*100 OCEANS = 100,000 OCEANS
Proposer’s estimate of % chance of success = 45%
So bang = 100K OCEAN
Grant size = buck = 3K OCEAN
ROI = bang / buck = 100K OCEAN / 3K OCEAN = 33
Final expected ROI = 0.45 * 33 = 16.5
Funding Requested:
$3,000
Proposal Wallet Address:
0x81e77Df5a8A373bE0Be54b01D44d568Bb358d9D8
Funding details
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Project lead full name: Scott Delorme
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Email address: scottdelorme93@gmail.com
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Your country: Canada
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Description of grant reason: DataVest project development - Phase 1
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Funding requested (USD): $3,000
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ETH Wallet address: 0x81e77Df5a8A373bE0Be54b01D44d568Bb358d9D8
Have you previously received an OceanDAO Grant? If yes, please specify what round(s) and how much was granted each round.
No
Team Website (if applicable):
www.datavestprotocol.com (under construction)
Twitter Handle (if applicable):
@datavestprotocol ____
Discord Handle (if applicable):
@datavestprotocol
Project lead email:
Country of Residence:
Canada
Part 2 - Team
2.1 Core Team
For each team member, give their name, role, and background. An example is below.
Name: Scott Delorme
Role: Lead Engineer
Background/Experience:
Over 7 years of background knowledge and experience in building multiple startups across several sectors of both Local and International Markets especially in the IT industry (with a focus on data inclusion). A Technology & IT development enthusiast with a diversified portfolio cut across internal and national brands like Shutterscore, Yellowcard, and Plaid. Involvement in multiple projects either as part of the building team or as an advisor since 2015. Also passionate about educating the world to the benefits and Opportunities of Decentralised systems and Crypto as a whole.
Part 3 - Proposal Details (*Recommended)
3.1 Details
Details of the proposal:
Today’s intellectual property or data ownership system is totally in the control of media giants who have their right of way as regards what, where, and when data gets published. There are reports of content creators being demonetized by regulators due to expressing their own unique political, racial views. To address these issues, our system will be decentralized. Creators will not be censored or demonetized for simply expressing their individual opinions. For Datavest will believe that these differences are what makes us human.
To address these problems, we are implementing multiple layers of securities to protect your data where no one can access your data without your permission. For each data set (from smartphone data, smartwatch data, browser data, shopping data) there is a data token mined. To create more value, the owners can aggregate the data into a data class and create a sub marketplace on the platform to gain maximum benefits from the data collection. For businesses, they can convert their data silos into fungible assets (via data-tokens), automatically discover the prices (via AMMs), made possible via Ocean Protocol data infrastructure. We will also be able to make data financial assets that can be used or collateralized to obtain loans or funds for other purposes.
3.2 If in Category “Build / improve applications or integration to Ocean”:
App will be live at:
app.datavestprotocol.com (building phase)
Is the software open-source? (N)
We at Datavest have decided at this early stage of the project to not make the software open source. This is so as to prevent exposing confidential Intellectual Property and Data to the general public. We seek to have a robust system before we may, later on, decide to make the code open source. This however will have to be deliberate as at when due.
Project software can be found at:
Nil
3.5 If in Category “Build / improve Ocean core software”:
A Pull Request (PR) will be made to these Ocean components:
We commit to working with Ocean core developers to merge the PR, following software quality best practices.
Yes
3.7 If the project includes software:
Are there any mockups or designs to date? If yes, please share details / links.
No
Please give an overview of the technology stack.
JavaScript
Solidity
Rust
3.8 If the project includes community engagement:
Which channels will be used? For how long? E.g. “twitter, for 8 weeks”. Other details?
Nil
If the project has already published data assets:
**Here are the DIDs of the the data assets: **
Nil
3.9 Project Deliverables - Roadmap
Any prior work completed thus far? Details?
So far, we’ve been able to:
- Create a team consisting of competent and enthusiastic members with individual roles assigned.
- We have also been able to set up a Team workflow to ensure effective management and mobilization.
- We have been able to create some social media pages to promote the project.
What is the project roadmap? That is: what are key milestones, and the target date for each milestone. Please make sure that one milestone is about publishing your results, e.g. as a medium blog post.
1st Quarter 2022 (Q1 2022):
- Develop project Prototype, mockups, and Website.
- Publish media articles explaining Project Updates and Roadmaps on Medium.
- Publish White paper and Lightpaper for Datavest Protocol.
- Grow the Datavest community through intense publicity strategies.
2nd Quarter 2022 (Q2 2022):
- Publish Datavest Protocol technical whitepaper
- Kick start Marketing and Reward Campaigns to further build community.
- Create Dashboard functionalities to enable users to view and monitor their respective profiles and portfolios.
3rd Quarter 2022 (Q3 2022):
- Integrate/Connect to the Ocean Protocol Marketplace.
- Publish multiple data contents, datasets, and other IPs to the Ocean Marketplace.
- Growth and expansion of Datavest through strategic Partnership.
4th Quarter 2022 (Q4 2022):
- Introduce a data-token exchange functionality, including decentralized swaps, sending, and receiving.
- Release a mobile application on the App Store and Play Store.
- Research multi-chain deployment
What are the team’s future plans and intentions? Is there maintenance? Possible extensions to the work?
The framework of the system will drive further development in the future by other developers to build their apps integrating the Datavest protocol without worry about storage, scaling, and other complications that arise from utilizing traditional copyright platforms. Another advantage inherent in utilizing our system is that there are no servers to maintain and no huge storage to manage. This alone will reduce production costs for developers that utilize our system.
The plan is to involve the community to take in feedback during and after the project is built and resolve bug fixes or other issues that anyone faces while using the project and maintain it for the long term.
3.10 Additional Information
Any additional information to add? E.g. custom fields or images? E.g. other grants or fundraising to date?
Nil
). I will go through and revise my review based on this information.